Namaste

Now spanish, French and italians are in the mix because of all the design trend of the district and that makes it even more exciting

I rent my place to guy from Panama and he loves it there,,

Dam I wish i was there already!

Developer sets sights on Orange Bowl area

By Risa Polansky
Developers of Wynwood’s Midtown Miami have pitched to Miami officials the idea of redeveloping the neighborhood around the Orange Bowl in conjunction with the county’s plan to build a stadium for the Florida Marlins on the site.
Representatives of Developers Diversified Realty met with city staffers this month to express interest in “creating a redevelopment plan for this venue and surrounding neighborhood,” wrote Daniel Herman, senior VP of development, in an e-mail to city officials.
He declined to comment for this article but used the e-mail to “remind” city officials of “our successful joint effort to transform the former FEC rail yard” through the Midtown project.
“This is a fantastic example of a public-private partnership that has revitalized and invigorated a once crime ridden and depressed area,” Mr. Herman wrote.
But activists and city officials at a recent City Commission meeting questioned Midtown’s follow-through, talking of an expensive and inconvenient automated garage system in a project intended to offer free parking.
According to the letter, the company plans “to spend some of our own time and energy to see if we could offer some suggestions to the city” for the Orange Bowl area, though city officials “have stated that you are not currently working with any developer.”
City Manager Pete Hernandez’ office said he met with the developers as a courtesy and that it’s too “early in the game” to set any plans in motion.
Developing the area could involve taking private property for a private purpose, which is sanctioned by the US Supreme Court.
When the issue of eminent domain involving the Orange Bowl came up at last week’s county commission meeting, county officials said no condemnation of private property would be necessary in order to build the stadium.

i think the lack of theatres in downtown is attirbutable to the financial realities of the business model. nowadays, the megaplex model (i.e., 20+ screens etc.) is the way to go. thus, you need a good amount of space along with the prospect of drawing large crowds (at all times during the day). i’m not sure either criteria has been met in the context of midtown or downtown.

the met is supposed to have a theater but that buidling hasn’t even gotten out of the ground yet…

usd is still usd ..create a new $..real estate will go up again…

by the way once the parity is 1euros=2 dollars and i would have paid off my apt at discount…that will be the time to create the new $ so i can let it run the other way around with price rising

how many francs is 500,000 euros…3.33 mio francs

transportation systems improves..downtown miami abd the biscayne corridor start to look stunning….

that s my scenario….hopefully down 100k up 300 in the next 5 years…

Its volatile but interesting…

I don’t believe it will happen …you might get people selling their condos now at around 300$ a sqfoot because thy don’t want to close…but don’t count on them give it away at lower prices after they paid the carry all those years…

What you can expect is cheap rent prices now slowly increased every year untill rents command higher selling prices in 3 -5 years My guess…

(1) the midtown project actually is looking really good from the time i’ve spent over there.

(2) in the long term, i.e., 10/15 years or so, this area stands a great chance of reinventing itself. drive a block away and its still a VERY rough area. go three blocks west and it looks like the street where Ricky got shot down in front of Tre. don’t expect this neighborhood to change dramatically in five years. a lot of developers are still grappling with the amazing amount of construction that has taken place in a very short span of time. more importantly, notwithstanding some wealthy pockets of residences in the area, for the most part, this is a very poor area.

(3) the pricing of the units themselves are absurd (throw parclofts into this discussion while i’m at it). what is the average time a condo unit owner holds his place? 4/5 years? why should today’s buyer be paying for what the neighborhood will be in 10 years? really, as much as like target, why should i pay 300+ sq ft to live next to it? just doesn’t make sense.

(4) the rental situation is pretty good for those that are interested. i’m hearing prices around $1,500 for a good sized unit. makes me wonder if the owners are coming remotely close to covering their carry.

(5) this conversation completely ignores the maintenance fee situation in the project. midtown 2 hasn’t been turned over to the ass’n and they’re already at 70 cents a sq ft. that’s nutty and only going to get worse.

(6) cynergi is an absolute dump (looks nothing like the advertising promos a few years ago) and is going to take a massive hit. you’ll see 30%+ walkaways at that building. it was targeted toward investors (i was at the promo party – my anecdotal experience was that i don’t remember meeting one end user…a lot of flight capital however). preconstruction alone was over $400 sq ft. i wouldn’t be surprised if cynergi either goes back to the bank or the developer files an 11 for the project.

in sum, my beef is that the pricing for midtown doesn’t match the location . the project itself looks great (considering the developer’s previously botched efforts at nirvana…i’m holding my breath). once the pricing moves to the mid 200s a sq ft or lower in the next year and a half (some say the platinum auction was a fluke…i humbly disagree) this project becomes extremely attractive for end users.

Offices and maybe hotel on Midtown 1 site are coming to Midtown