Monday, February 18, 2013

19th New Condo Tower Proposed For Greater Downtown Miami Since Crash


  
Carlos Rosso
MIAMI, FL -- A 19th new condo tower is being proposed for Greater Downtown Miami at a time when South Florida real estate shows signs of improving from a crash that began in 2007, according to a new report from CondoVultures.com.

For this latest project, developer Jorge Perez of the Related Group is proposing to build a mixed-use project - yet to be publicly named - with 450 condo units and 132 hotel rooms on the site of the previously announced but ultimately stalled Infinity II At Brickell project at 1300 S. Miami Avenue, according to a report by the Miami Daily Business Review. 

Jorge Perez
With this newest proposed project, the Related Group is proceeding with plans for at least four new towers - 1100 Millecento, 1300 S. Miami Ave. site, ICON Bay, and MyBrickell - with a combined 1,325 condo units in the Greater Downtown Miami area, according to the Preconstruction Condo Projects Database™ compiled using public records by the licensed Florida brokerage CVR Realty™.

In South Florida, the Related Group is proposing at least 11 condo towers - with three towers already under construction - with more than 2,150 units in projects such as One Ocean and TRG-Alaska III site in South Beach market, the Apogee Beach and Beachwalk in the Hollywood / Hallandale Beach market, and the ICON Palm Beach north of Downtown West Palm Beach.

Peter Zalewski
"Several developers are proceeding aggressively to tap into the reportedly strong buyer demand for preconstruction condos in South Florida at a time when unsold unit inventory from the tricounty region's last boom-and-bust cycle is currently on pace to sell out as early as 2014," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC. 

"Fortunately, attendees of the upcoming Condo Vultures® 5th Annual State Of the South Florida Condo Market Seminar will have an opportunity to hear more about the developer strategy with pre-construction from Carlos Rosso, president of the Related Group's condominium development division, who is scheduled to speak at the Downtown Miami event."

For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC
800-750-0517.
225 Midtown Building
 Suite 209B
225 NE 34th St
Downtown Miami, Florida, 33137.

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