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Brickell CityCentre Gets ANOTHER Tower

Monday, September 30, 2013

Swire Properties just announced a major addition to their mega project, Brickell CityCentre, called One Brickell. Brickell CityCentre is an over $1 billion project that encompasses 4 city blocks in downtown Brickell area. Phase One of the Brickell CityCentre is already under construction and it will completely change the neighborhood, and likely the dynamic of downtown. Phase One includes a luxury shopping center, two residential towers, an EAST Hotel and a wellness center. The Metro Rail runs directly through the Brickell CityCentre, so not only Brickell residents can enjoy this area.

Stephen Owens, Swire president, released the following statement to the Miami Herald regarding the Swire vision, “Our goal is to develop a structure that will be artful in its mix of uses and will advance Brickell Avenue’s stature as Miami’s premier destination.’’ One Brickell will be designed by the famed Arquitectonica and will be an 80 story mixed use tower at 700 Brickell Ave. This property was won from the Northern Trust Bank and the bank will have headquarters at the bottom floor of the new property. For more information on pre construction at One, contact me today!

 

Condo Converters Return to South Florida Market

Friday, September 27, 2013

During the real estate boom of 2003-2006 condominium converters flooded the market, converting corporate owned complexes into community association managed with multiple individual owners. With the crash the converters deserted the market, however now as the market is healthy and inventory is really reduced, condo converters are back. Our current supply of condominiums is at only 4 months and 6 months is considered a healthy market, we are very constricted.

Unlike new construction which has a number of difficulties and between permits and time, can take a great deal of time to develop, conversions represent quick inventory. It was recently announced that developers file two projects in 2013 down from four projects in 2012 and one in 2011, however many experts anticipate a great many more conversion announcements as the winter buying season begins. If you are interested in learning more about condominium conversion projects, please contact me today!

 

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