UPDATED May 12, 1:45 p.m. “South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
For decades, Doral was known for its eponymous country club and a sleepy assortment of nondescript suburbs, corporate headquarters, and industrial warehouses. But that’s all changing in a big way, as some of South Florida’s biggest developers are transforming the area with cutting-edge, mixed-use projects that will deliver new condos, restaurants, retail outlets and office space. While urban areas such as Brickell and downtown Miami have experienced similar transformations in recent years, will a traditionally suburban district adapt to these changes successfully? Let’s take a look at this Doral edition of “South Florida by the numbers.”
537: Number of condo units to be delivered in Phase One of Midtown Doral; a four-phase development near the corner of Northwest 107th Avenue and Northwest 74th Street, developed by the Century Homebuilders Group. Retail space will occupy the first floor of each mid-rise, as well as two parking structures, for a total of 72,000 square feet of restaurants and stores. The developers expect the entire project to be completed by 2020. [TheRealDeal]
$552,390: Average price of a four-bedroom, two-bathroom, single-family home in Doral, making it the most expensive city to own such a home in all of Florida, according to a Coldwell Banker report. That’s more than double the average for Florida as a state, which came in at $250,534. [MiamiNewTimes]
300: Estimated number of real estate agents and brokers who attended a recent panel discussion on “the new Doral.” Panelists included the developers of Midtown Doral, Downtown Doral, CityPlace Doral, a Doral city councilwoman, and the Centurion Restaurant Group. [MiamiHerald]
$96 million: Price recently paid by Lennar and Codina to acquire the White Course site in Doral, a former golf course that they plan for a southern extension of the Downtown Doral mixed-use project. The site plan calls for 2,209 residential units, 150,000 square feet of office space, 30,000 square feet of retail, seven acres for a civic and school uses, and 17.6-acres for an amphitheater/public recreation area. [TheRealDeal]
350,000: Square feet of retail space to be available in CityPlace Doral, a partnership between Shoma Homes and The Related Group that will also feature more than 1,000 residences (including the Oasis Park Square condominium project), with 150 homes, and 260 apartment rental units that are now under construction. More than 80 percent of the retail space is leased, with big names such as Fresh Market, Tommy Bahama-Island, Sushi Siam, Cabo Flats and CineBistro Theatre in the mix. [TheRealDeal]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.