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| Bristol Tower condos, Brickell Avenue, Downtown Miami, FL |
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| Ugo Colombo |
MIAMI, FL -- With at least 160 new condo towers already
proposed for South Florida, veteran developer Ugo Colombo - whose
previous projects include the luxurious Bristol Tower, Epic West and Santa
Maria in Greater Downtown Miami - is involved with a group planning a new
condo building on an oceanfront site in Miami Beach as the region's real estate
market shows signs of recovering from the dramatic downturn of 2007, according
to a new report from CondoVultures.com.
The push for new condo construction comes as the boom-era
unit inventory is dwindling in South Florida
The new condo project - dubbed the Beach House 8 - is
slated to be developed in the 3600 block of Collins Avenue at a time when
nearly 20 towers with more than 1,080 units have been proposed for the Miami
Beach market as of September 6, 2013, according to the Preconstruction Condo
Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.
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| Valerio Morabito |
Overall in South Florida, developers are now proposing more
than 21,850 units for the tri-county region of coastal Miami-Dade, Broward, and
Palm Beach as of September 6, 2013, according to the report.
The Miami Beach coastal market is defined as South Pointe
Drive North to 87th Street, and the Atlantic Ocean west to the Intracoastal
Waterway, according to the Condo Vultures® Official Condo Buyers Guide To South
Beach™.
In Miami Beach, the new project's developer - Ocean Grande
Properties LLC with Italian developer Valerio Morabito as managing
member - is proposing to build a 10-story condo building with eight units that
would be constructed just north of the proposed Versailles On The Ocean,
Faena House, and the Residences at Miami Beach Edition condo towers,
according to marketing literature.
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| Planned Versailles on the Ocean condos Miami Beach, FL |
Colombo - who led the unsuccessful effort to secure the $1
billion contract to redevelop the Miami Beach Convention Center - is
listed as a member of the "team" developing the Beach House 8 in
marketing literature for the project.
the tricounty region and 35 other highrises - Aventura's
Bellini At.
.
For a complete
copy of the company’s news release, please contact:
Condo Vultures® LLC
225 Midtown Building
225 NE 34th St.,
Suite 209B,
Downtown Miami, Florida, 33137.
800-750-0517.
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