South Florida by the numbers: Here comes Brightline!

Miami /
May.May 18, 2018 09:45 AM

Brightline

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

Choo-choo! The Brightline high-speed train will finally roll into downtown Miami this weekend, offering express service to and from Fort Lauderdale, West Palm Beach, and Orlando in the coming years. Political and business leaders are hoping the new (reasonably priced) commuter rail system will be a transportation “game changer” for South Florida, allowing people to live in one city and work/play in another, while also alleviating vehicle traffic on the major highways. But challenges linger: Brightline already faces safety and noise concerns, and the “car-first” mindset of a region unfamiliar with mass transit. Will Brightline revolutionize South Florida business and culture the same way Henry Flagler’s railway did more than a century ago? Hop aboard for this month’s “South Florida by the numbers.”

8: Number of daily round-trips Brightline will make between Miami and West Palm Beach during the week, with one fewer on the weekends. (Additional round-trips may be added in the months and years ahead.) [TheRealDeal]

$3 billion: Amount Fortress Investment Group Rail, Brightline’s parent company, has spent to build the rail project and stations, as well as several hundred millions more in Miami and West Palm Beach real estate projects. [PalmBeachPost]

11: Number of acres that make up MiamiCentral, the downtown terminal for Brightline. Located at 600 Northwest First Avenue, it spans six blocks between Northwest Third and Eighth streets. When completed, the mixed-use development will include retail space, a food hall, grocery store, office buildings, residences, and a garage. [MiamiHerald]

One: First name of the local Sotheby’s International real estate office which hosted a Brightline-assisted open house in April. Agents from the company’s Jupiter and Palm Beach Gardens offices traveled from the West Palm Beach station to Fort Lauderdale, toured area homes, and returned via Brightline that afternoon. [PalmBeachPost]

2019: Year Tri-rail is expected to begin service at MiamiCentral, bringing yet another major passenger rail system into (and out of) downtown Miami. [MiamiToday]

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 is based on outstanding production, as well as ethical and professional behavior.


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