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Miami Herald
24-04-2025
- Business
- Miami Herald
Will these housing trends change the South Florida skyline? Take a look
Real Estate News Will these housing trends change the South Florida skyline? Take a look Rising housing costs and changing buyer demands are transforming South Florida's skyline. This list of stories outlines condo buyouts sparked by new reserve requirements, like those facing Solaris at Brickell Bay, and relentless developer interest in oceanfront property. Developers are creating upscale workforce housing like The Era in Fort Lauderdale to attract local workers, while giant projects like Upland Park aim to blend homes with transit and shopping in previously overlooked neighborhoods. Community groups, such as PACT, are pushing leaders for lasting relief from soaring rents and more affordable options, highlighting the people behind the headlines. From luxury restructurings to grassroots calls for justice, these articles trace the high-stakes forces shaping where and how South Floridians will live next. The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories below were reported, written and edited by McClatchy journalists. North Bay Village, junto a la bahía y muy cerca de la playa de Miami Beach, recibe proyectos residenciales de lujo, que aumentan precios inmobilarios. Un programa de vivienda de la ciudad ayuda a los residentes y trabajadores esenciales a comprar condos, alquilar o pagar servicios públicos atrasados. By MATIAS J. OCNER NO. 1: IS YOUR CONDO RIPE FOR A BUYOUT? SEVEN SIGNS THAT DEVELOPERS MIGHT TARGET YOUR BUILDING The Miami Herald spoke with three real estate experts who weighed in on the telltale signs a condominium is ripe for redevelopment. | Published October 4, 2024 | Read Full Story by Rebecca San Juan A rendering shows the location of Upland Park, a self-contained community of 2,000 apartments, offices, shops, a hotel and a school planned for two separate, publicly owned properties at the intersection of the Florida Turnpike and State Road 836 in Sweetwater in west Miami-Dade County. The portion at bottom right is the site of the Dolphin Station park and ride. NO. 2: CAN A BIG 'TRANSIT COMMUNITY' AT A WEST MIAMI-DADE BUS STATION EASE TRAFFIC WOES? 'It's sort of, if you build it, they will come.' | Published January 22, 2025 | Read Full Story by Andres Viglucci Condo owners Gil Hall pose next to his wife Elizabeth CZerny in their home in Solaris at Brickell Bay in Miami on Tuesday January 21st., 2025. Story: Developers are trying to buy out all the units, seemingly so Ken Griffin can redevelop the building as part of a project for Citadel's HQ in the area. By Alexia Foderé NO. 3: CONDO OWNERS NEXT TO CITADEL'S PLANNED MIAMI HQ REJECT 'CHEAPSKATE' BUYOUT OFFERS Griffin, a billionaire hedge-fund manager bringing his company headquarters to Miami, has been mum about his intentions for the Solaris condo building. | Published January 23, 2025 | Read Full Story by Aaron Leibowitz The Era, Affiliated Development's latest project, is currently under construction in Fort Lauderdale. The apartment building is meant to help address the area's lack of affordable workforce housing. NO. 4: NEW FORT LAUDERDALE APARTMENT WILL OFFER 'LUXURY' AFFORDABLE HOUSING TO CITY'S WORKFORCE The ongoing development efforts come as an affordable housing crisis continues embroiling South Florida, where residents are the most rent-burdened people in the country. | Published March 25, 2025 | Read Full Story by Amanda Rosa Attendees listen to Mayor Daniella Levine Cava make a pledge to the community during the PACT Nehemiah Action Assembly on Monday, April 7, 2025, at Sweet Home Missionary Baptist Church in Cutler Bay, Fla. By Alie Skowronski NO. 5: 'RENT IS TOO DAMN HIGH.' INTERFAITH GROUP DEMANDS ACTION FROM MIAMI-DADE LEADERS One of Miami-Dade's most politically engaged interfaith groups held their annual assembly to press elected leaders to make housing more affordable and reducing evictions in Miami-Dade County. | Published April 9, 2025 | Read Full Story by Lauren Costantino This report was produced with the help of AI tools, which summarized previous stories reported and written by McClatchy journalists. It was edited by journalists in our News division.
Miami Herald
04-04-2025
- Business
- Miami Herald
7 trends and updates shaping the South Florida real estate market in 2025
Real Estate News 7 trends and updates shaping the South Florida real estate market in 2025 The South Florida real estate market is undergoing transformation in 2025 due to shifting policies, economic forces and housing needs. The condo sector faces rising costs and regulatory challenges, with new laws requiring financial reserves and mandatory inspections intensifying financial strain on owners. High assessments and foreclosure risks tied to unpaid dues reveal the burdens on residents. Meanwhile, rental prices are softening slightly but remain far above national affordability benchmarks, underscoring the region's persistent cost-of-living pressures. Luxury housing developments, buyout disputes and attempts to balance community benefits with redevelopment, as seen in projects like the Deauville Hotel reconstruction, highlight the complex interplay of preservation, growth and demand. The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories below were reported, written and edited by McClatchy journalists. With headlines about condo associations and HOAs foreclosing on owners over unpaid assessments and other fees, state legislatures have been to address the situation. NO. 1: HOA, CONDO ASSOCIATION GROUP WEIGHS IN ON FORECLOSURES OVER UNPAID ASSESSMENTS, FINES Condo boards and HOAs foreclosing over unpaid fees getting attention in state legislatures. | Published January 2, 2025 | Read Full Story by Michael L. Hyman Aerial view of the Caribbean Breeze Condominium, bottom-center, on Monday, July 29, 2024, in Sunny Isles Beach, Fla. Some residents at the condominium pay over $800 a month in homeowners association fees, which has increased year after year. Some residents said they could not afford higher payments, including upcoming reserves. By MATIAS J. OCNER NO. 2: HOW CAN YOU GET A $50,000 LOAN FOR CONDO ASSESSMENTS IN MIAMI-DADE? HERE ARE THE STEPS What to know about the county program. | Published January 6, 2025 | Read Full Story by Miami Herald Archives Condo owners Gil Hall pose next to his wife Elizabeth CZerny in their home in Solaris at Brickell Bay in Miami on Tuesday January 21st., 2025. Story: Developers are trying to buy out all the units, seemingly so Ken Griffin can redevelop the building as part of a project for Citadel's HQ in the area. By Alexia Foderé NO. 3: CONDO OWNERS NEXT TO CITADEL'S PLANNED MIAMI HQ REJECT 'CHEAPSKATE' BUYOUT OFFERS Griffin, a billionaire hedge-fund manager bringing his company headquarters to Miami, has been mum about his intentions for the Solaris condo building. | Published January 23, 2025 | Read Full Story by Aaron Leibowitz Home buyers should review fees for homeowners and condominium association fees to see if the amenities are worth it, including pool, gym, clubhouse. NO. 4: ARE FEES FOR CONDO AND HOMEOWNER ASSOCIATIONS WORTH IT? ASK YOURSELF THESE QUESTIONS What buyers should know about the expense. | Published January 28, 2025 | Read Full Story by LEW SICHELMAN Condo inventory reached a new high in August in Miami-Dade County, finally tipping the market in favor of buyers. Above: Apartment rentals and condominiums dot the waterfront in North Bay Village. By MATIAS J. OCNER NO. 5: CONDOS IN FLORIDA ARE FACING A GROWING CRISIS. WHAT'S NEXT FOR OWNERS AFTER DEADLINE? Safety guidelines that went into effect this year are driving up costs and scaring off buyers. | Published February 19, 2025 | Read Full Story by Rebecca Liebson A view of a resurgent Northeast Second Avenue in the heart of Miami's Overtown neighborhood in April 2021, with the Plaza at the Lyric apartments at left and a Red Rooster restaurant in the background at right. By Pedro Portal NO. 6: RENTERS ARE PAYING LESS FOR APARTMENTS IN MIAMI, BUT THERE ARE ISSUES. SEE THE COSTS Here's a look at housing costs and ways to navigate the crisis. | Published March 14, 2025 | Read Full Story by Howard Cohen A rendering illustrates developers' plan to reconstruct and 'reinterpret' the demolished but iconic Deauville Beach Resort in Miami Beach. NO. 7: MIAMI BEACH'S VANISHED, ICONIC DEAUVILLE HOTEL IS POISED FOR AN 'EVEN BETTER' RETURN 'It is a project that improves the quality of life for every resident of North Beach,' say Beach Vice-Mayor Tanya Bhatt. | Published March 23, 2025 | Read Full Story by Andres Viglucci This report was produced with the help of AI tools, which summarized previous stories reported and written by McClatchy journalists. It was edited by journalists in our News division.
