Friday News Brief

Port Tunnel Builder Selected

In an effort to divert heavy truck traffic away from Biscayne Blvd. City planners have determined to have a port tunnel constructed from Watson Island to the Port of Miami. The builder has been selected and construction is slated to begin as early as next year and be completed by 2012.

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City Miami of Improperly Funds Related Group Project

The Related Group reportedly received funds from the City of Miami that were designated to boost economic development in struggling neighborhoods. The funds were for a high rise condo where the Related Group made clear that buyers were not being screened for income, yet it was classified as affordable housing.

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Biscayne Landing Attains Financing

Boca Developer’s 193 acre Biscayne Landing development attains $233 million financing arranged by Cohen Financial. Boca Developers acquired the land from FIU. It is situated next to FIU’s North Campus.

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Crucial Property Tax Reform Legislation Put on Hold

State legislators need more time to work on the tax reform. The proposed legislation would cut property taxes approximately 25 billion dollars within five years.

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Loria Donates Art

Loria donates 4 1/2 ton bronze sculpture to the Miami Art Museum. This marks the second time that Loria has donated art to the museum.

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Arquitectonica in Vegas 

The $3 billion Cosmopolitan Resort Casino designed by Miami-based Arquitectonica has broken ground in Las Vegas

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