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Miami’s Mayor announces Second Lowest Property Tax Rates in Three decades

August 3, 2019
Last week, Miami commissioners voted to reduce the property tax rates in the city, making it the second-lowest over the past three decades, according to Mayor Francis Suarez in a social media video.  With the new budget, the total millage rate for Miami is decreasing from 8.03 in 2018 to 7.99 this year. Nonetheless, the city still sees a jump in tax revenue due to a property boom. Taxable rates are up 10.5% for 2019 when adding new construction while existing prices are up 4.5%. Adjacent coastal cities with a density of high-value property also have a lower millage rate…
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Lincoln Road is Getting a Facelift in 2020

In 2020 Lincoln Road will celebrate 60 years since it was transformed into an open-air pedestrian mall. The iconic address, which developed practically alongside Miami Beach, features old buildings that marked Miami from the art deco or even earlier periods. Now the destination is preparing itself to be rebuilt with a new design at the cost of $77.4 million. Miami Beach commissioners have approved a funding deal this past week and construction should start in late spring of 2020, according to the press. Taxpayers citywide will carry most of the amount necessary to build the project. Property owners in the…
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G7 summit: President May Host the event At Trump National Doral

Trump National Resort in Doral is a finalist to receive the G7 summit in 2020, according to Axios. It could be the first time Miami would host the meeting of leaders of the world's most influential countries. Nonetheless, Trump faces negative comments of his opponents. They already pronounced that hosting the event there could violate the compensation clause of the Constitution since the President would profit from hosting the summit. In 2012, Barack Obama planned to host the event in Chicago, but had to move it to Camp David due to concerns about safety and protesters in the urban area.…
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Video: Ocean Terrace development agreement approved in exchange for a park

August 2, 2019
Commissioners from the city of Miami Beach gave the green light to Alex Blavatnik and Sandor Scher, developers of Ocean Terrace, to build 110 hotel rooms instead of 78. In exchange, they will invest $15 million to turn street portions and a parking lot encompassing the city block, into a public oceanfront park designed by Raymond Jungles, known by the Miami Beach Botanical Gardens and the promenade in front of 1111 Lincoln Road. Also included in the project is a 58-unit luxury residential building, 18,000 square feet of retail, and a 200-car parking garage partially within the shells of 12…
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Downtown Miami may soon have its own Ferris Wheel at Bayside Marketplace

July 26, 2019
The application for Skywheel, how the attraction will be called, was recently submitted. The project encompasses a 176-foot slow-moving observation wheel with forty-two gondolas with a capacity to seat up to eight passengers each, for a total of 336 passengers, according to the document. The rides will last from 12 to 15 minutes, and the passengers will stay in a fully enclosed and climate-controlled gondola. At the base, you will find kiosks selling tickets and offering photo-souvenirs - tickets could also be purchased with a phone app. The ride will operate daily from 10 am to midnight, but it can…
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New retailers are opening at Aventura Mall, Lincoln Road, and Bal Harbour Shops

Despite retail turbulence across the United States, various new stores have opened or are planning to open soon in South Florida showing that retail is not going anywhere. We made a list of a few new stores in Aventura Mall, Lincoln Road, and Bal Harbour Shops, check it out! Aventura Mall Hope & Henry opened its first store at Aventura Mall. The brand sells organic cotton pieces for babies, toddlers, and children, with a few items also available for adults.Calzedonia is open and offers swimwear and legwear, including hosiery, socks, but also beachwear including kaftans, dresses, tops, bottoms, jumpsuits, and…
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Paramount Miami Worldcenter is now complete

Between the sales launch and construction, four years have passed, but Paramount Miami Worldcenter is finally completed. The developers, Dan Kodsi and Miami Worldcenter Associates, obtained a temporary certificate of occupancy for the bulk of the 60-story project’s units, up to the 38th floor. Closings should start soon in 569-unit tower, which cost about $500 million to build. Paramount is almost 90 percent sold with about $500 million in sales; buyers are from 56 different nationalities. Properties range from 1,180 square feet to 2,350 square feet, with prices starting at about $885,000, but varying in average to about $1.2 million,…
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India and Pakistan interest in South Florida real estate is rising

July 19, 2019
Miami’s real estate market has been raising the interest of prospective investors from the Indian subcontinent, India and Pakistan, according to the Miami Association of Realtors. Although the economy and logistical opportunities are keeping a genuine groundswell of investment at bay — at least for the moment. The association releases a list with the countries that searched for properties in its website, and surprisingly, India was at the number two on the rank in 2018, while Pakistan was close behind at number five. One of their interest could be associated with the high number of EB-5 application coming from the…
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Israeli developer proposing two towers in Downtown Miami

July 18, 2019
Israel’s Mishorim, publicly traded on the Tel Aviv Stock Exchange and based in Bnei Brak, Israel, has presented plans to build the Mishorim Towers in downtown Miami. Miami’s Urban Development Review Board is scheduled to review the proposal on July 17. Thirteen waivers were requested from Miami 21 zoning code requirements. Mishorim owns the parking garage on the site right now, which was built in 1973 on a .86 acre property. Kobi Karp is the architect for the project. Mishorim Towers is aimed to include: Twin towers, 63 stories (701 feet) and 55 stories (597 feet)1,006,004 square feet of floor…
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Miami Beach’s entrance is getting a new colorful pedestrian bridge

The winner is in, and the design for the bridge planned to be built at the main entrance of South Beach was chosen this past week, according to remiamibeach. The developers Russell Galbut and David Martin picked a colorful option by French artist Daniel Buren. The project is still missing the approval of the city's Design Review Board, which is scheduled to vote in September, and construction should start soon after. The bridge will have its construction funded by Miami Beach taxpayers through a bond program at the cost of $10 million. The artist called the project Miami Beach Canopy.…
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Call Us At: 305 397 8788
605 Lincoln Road Suite 302 Miami Beach, FL 33139
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Contact Us

Call Us At: 305 397 8788

605 Lincoln Road Suite 302 Miami Beach, FL 33139

  • This field is for validation purposes and should be left unchanged.