Daily Archives: April 18, 2007

Greater Miami’s Housing Price Index Since 1975

The information on the chart below comes from Housedata.info

It indicates the increase in housing prices in Greater Miami since 1975. Pretty neat.

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Filed under The Big Picture

Tobacco Road According to the BBC’s Guide to Life, the Universe, and Everything

Surprisingly, H2G2, the BBC’s Guide to “Life, the Universe, and Everything“, has a neat profile of Tobacco Road, Miami’s oldest bar. The Brickell Village nightspot has been in business since 1912. According to the featured article Tobacco Road has:

“managed to survive everything from gangsters and the Depression to hurricanes and attempts by the city of Miami to shut it down. In 1982 it got a new lease of life when the new owners repositioned it as a blues bar, just as the nearby Brickell Avenue started to fill up with high-rise offices, hotels and businesses. It’s now a considerably successful place that hasn’t lost any of its old charm.”

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U.S. Foreclosures Rise 7% in March but Decrease in Florida

With foreclosures at historic levels nationally, it is important to note that they have slightly decreased in the month of March for Florida. It is not clear when foreclosures are going to begin leveling off. It is clear though that many of the foreclosures are not due to lack of mortgage payment but also lack of paying maintenance dues in condominiums. Maintenance fees have been skyrocketing due to insurance increases and inaccurate budgeting for new projects.

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Kirsten Dunst is no Fan of Miami it Seems

Kirsten Dunst was booed at the Cannes Film Festival for her performance in the film Marie Antoinette. She said:

 “Cannes was difficult. I got there and it was like Miami had taken over the South of France. It was horrible even before a few people booed at one of the screenings.”

What’s her issue? What does Miami have to do with her poor acting performance, Cannes, and some French haters? Hmmmm. Oh, I get it! Cannes was packed with good looking people, parties, and celebrities all near a beautiful sea. What’s not to like Kirsten?

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Fortune International Buys Key Biscayne’s Grand Bay Club

Key Biscayne has remained a relatively quiet tropical enclave. Miami’s ongoing construction boom has not been felt on the Key except for the changing skyline view on the Rickenbacker Causeway. Now, Edgardo Defortuna’s firm Fortune International has bought the Grand Bay Club, which is situated next to the currently closed Sonesta; also owned by Defortuna. Although plans for the site remain a mystery at this point (Miami Today claims the fate of the GBC is yet unknown), it seems rather logical that Edgardo and his team may plan to amalgamate the properties into a giant oceanfront project. His plans are not likely to be made public anytime soon in anticipation of opposition from Key Biscayne nimbys. Key Biscayne is notoriously slow to accept change. Should Defortuna disclose ambitious plans, expect the Key’s nimbys to gripe about increased traffic, excessive density, obstructive aesthetics, etc. Key Biscayne remains largely untouched by new development. Many of the island’s condos are old and unimpressive. The lack of development and government indecision regarding Virginia Key has not helped foster development on the two islands. Edgardo’s plans for the project could create a similar predicament to the Related Group’s Mercy project fiasco. Bafflingly, Key Biscayne represents a source of untapped potential. We’ll just have to wait and see how Mr. Defortuna can tap into it.

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