What Does the Media Know Anyhow?
Since the rampant negativity plaguing the media is now on everyone’s mind, it’s important to consider whether or not it’s too soon for the gloom. Parkwest, for example, has had one building completed: Ten Museum Park.
Marina Blue, 900 Biscayne, and the Marquis remain under construction. 600 Biscayne and Paramount Park have not begun construction.
In the CBD, only One Miami and the Lofts 1 has been completed. Epic, Metropolitan Miami, The Lofts 2, Everglades on the Bay, Wind, Mint, Ivy, Flagler First, Capital Lofts at the Security Building, and 50 Biscayne all remain under construction and unoccupied.
In Uptown, Cite, Blue, Uptown Lofts, Onyx, and a handful of small midrises have been completed. For the upstart neighborhood there is a long list of buildings that remain under construction. For all intensive purposes the area is still hatching.
A Study: Signs of Urban Life
The City hasn’t had a chance to show signs of “new” life and the media has engulfed Miami in gloom. The reality is rather different. As we explore signs of life in the urban core, we will:
- Identify the peripheral effects of the new construction
- Factor in new retail/commercial activity.
- Supplement the study with an acquisition analysis that will factor in what properties have been recently sold and/or acquired near new development.
- Identify what major impediments remain in the advancement of the core, neighborhood by neighborhood.
- Explore just what kind of change we can expect given current physical and political conditions.
- Put the market aside, for now, and look at the city through a livable standpoint. The standpoint that so many bought into.
Miami was America’s biggest boom town at the onset of the 21st century and the story doesn’t end with the market bust. There is a truly singular city emerging from the settling of the construction dust and the signs are there if you know where to look.
(to be continued…)