Developers are planning a 42-story mixed-use tower in Miami's Omni CRA district, featuring 631 residential units, 125 of which will be micro-units. The project, named Hakimian South Tower, also aims to include 1,000 bike spaces, swapping 20% of required car parking for bike parking. The city's Urban Development Review Board has recommended approval, highlighting the project's focus on transit-oriented development and sustainable living. Source: Miami Today
Udonis Haslem Tackles Miami's Housing Crisis with New Project
Retired Miami Heat star Udonis Haslem is partnering with real estate firms to build an $85.5M housing complex in North Miami. The project aims to ease the city's affordability crisis, offering 174 rental apartments and 26 townhouses with price caps. Slated for a 6.3-acre site, the development will feature amenities like a business center and gym. Rents will be regulated to target tenants earning 80-140% of the area's median income. Completion is expected by late 2025, marking a significant step in solving Miami's housing woes. Source: Miami Herald
Design District's New Landmark: 20-Story Tower 91 Gets Green Light
Developers Design District Associates LLC and Prinz Corner LLC have received unanimous approval for Tower 91, a 20-story mixed-use building in Miami's Design District. The project will feature 107 residential units, over 20,000 sq ft of commercial space, and parking for 227 vehicles. Designed to be the southern gateway to the Design District, the building aims to diversify and bridge the gap between the Design District and Midtown. Source: Miami Today
Time to Sell? Top Housing Economist Advises Small-Time Investors to Exit Market
Lawrence Yun, chief economist at the National Association of Realtors, suggests that now is the ideal time for small-time investors to sell their properties. With house values soaring by 35.5% over the last three years, investors have built significant equity. Yun's advice comes as mortgage rates hover around 7% and housing prices start to stabilize. He believes selling now could benefit both investors and the many people struggling to buy homes in a market with limited inventory.
Housing Scorecard
Construction Kicks Off for Miami Freedom Park and Inter Miami CF Stadium
Construction has begun on Miami Freedom Park, set to open in 2025. Anchored by a 25,000-seat soccer stadium for Inter Miami CF, the 131-acre development will also feature a 58-acre public park, entertainment district, and various commercial spaces. Source: Inter Miami
Hotel rooms
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