Miami Beach is losing rental buildings while demand is growing
Miami Beach multi-family supply has decreased in the face of increasing demand:
Opportunity:
Miami Beach multifamily investments are very attractive in light of strong rental demand and dwindling supply.
Contact me directly for off market Miami Beach multi family opportunities.
Opportunity Spotlight:
Multifamily properties in North Beach.
Align with neighborhood revitalization + under supply.
In November 2017, Miami Beach voters approved the creation of the North Beach Town Center. This marks the beach's first voter approved FAR increase in 30 years. North Beach is an oceanfront neighborhood in Miami Beach with enormous potential. This freedom to develop higher-density mixed use buildings will spur tremendous revitalization.
This Miami Beach area within walking distance to the ocean will soon be transformed into an attractive town center. North Beach's transformation is now underway.
I gave a presentation to Miami Beach's land use committee on issues in housing stock and what can be done with the new rezoning in North Beach.
More reading on North Beach's Town Center:
Article I contributed to in the South Florida Business Journal >
Article in the Real Deal on the rezoning vote >
North Beach Revitalization: Town Center
North Beach Revitalization: Rue Vendome Fountain & Plaza
The city has invested upwards of $1M in the transformation of the Rue Vendome fountain.
Work has started on the public plaza. This will activate the area with outdoor seating, cafes, art installations and neighborhood events.
North Beach Revitalization: Wynwood Yards Concept
Wynwood Yard founder Dalla Heiman and partner Ken Lyn have a five year lease to develop a public lot on 81st and Collins.
They plan to bring a version of Miami's popular Wynwood Yard to North Beach. The plan includes an outdoor gathering space with restaurants, retail and music.
North Beach Revitalization: Ocean Terrace
After being voted down in 2015, a revised version of the Ocean Terrace redevelopment received approval in January, 2018.
https://www.bizjournals.com/southflorida/news/2018/01/10/miami-beach-oks-redevelopment-of-ocean-terrace.html
"The development plan would total 508,350 square feet, with 206,741 square feet usable when excluding parking and common areas. That would include a 17-story condo tower with 58 units ranging from one to five bedrooms, 78 hotel rooms by combining the Broadmoor and the Ocean Surf into a single hotel, 2,030 square feet of meeting space in the hotel, 5,728 square feet of restaurants, and 18,060 square feet of ground-floor retail on Collins Avenue and Ocean Terrace. There would be a 168-space parking garage, with a "green screen" separating the garage from the historic buildings below it."
Contact me for: off-market multi family opportunities in Miami Beach.
Take advantage of: dwindling supply, neighborhood revitalization and increasing demand.
