U.S. Century Bank wants to seize three downtown Homestead properties that belong to an affiliate of shuttered Dade Medical College. The for-profit college owned by Ernesto A. Perez abruptly closed on Oct. 30, 2015, leaving more than 2,000 students without classes to finish their degrees and hundreds of employees without jobs. Soon after, Perez pleaded…
A 2012 photo of the Brickell skyline taken from the Rickenbacker Causeway (Credit: Daniel Christensen) The amount of South Florida homeowners who have mortgages larger than their house’s value is shrinking, thanks in part to rising home prices across the board. Data from a year-end RealtyTrac report shows that about 19.6 percent of all South…
Publix Super Markets and TJX Companies could be among the anchor tenants of the River Landing urban retail project planned along the Miami River. Landing national tenants would be great news for the project at 1400, 1420, and 1500 N.W. North River Drive after owner River Landing Development was hit with a $38.2 million foreclosure…
A rendering of the Courtside Family Apartments affordable housing community in Miami 1. Developers delivering affordable housing amidst high demand [Daily Business Review]2. Why homes in major U.S. cities are nearly impossible to afford [Curbed Miami]3. Publix and TJX sign leases at Miami’s River Landing [The Next Miami]4. New home sales in the U.S. rise during December [Wall Street…
Total Quality Logistics plans to create 75 jobs over the next three years in Miami after qualifying for public incentives. The Beacon Council, county economic development officials, Enterprise Florida and the Florida Department of Economic Opportunity worked with the Cincinnati-based company on its expansion and $600,000 investment. Its new office is in Museum Tower at…
An aerial view of Miami’s Brickell neighborhood (Credit: creative commons user Towpilot) Miami-Dade County, once center stage for the U.S. foreclosure crisis, has fallen to fifth place out of the country’s biggest hot spots for distressed properties. Out of all the homes sold during November 2015, 20.3 percent of them were distressed. That includes homes…
Rendering of Mana Wynwood and Moishe Mana Members of the Wynwood Business Improvement District want to place restrictions on the open-air commercial spaces Moishe Mana is proposing for Northwest Second Avenue from 22nd Street to 24th Street as the developer continues to work on getting their support for the massive mixed-use project he is planning…
Gables Residential obtained a $56 million construction loan to start building its Columbus Center apartments in Coral Gables. U.S. Bank granted the mortgage to Columbus Center GU, an affiliate of Atlanta-based Gables Residential, to build the project at 100 Alhambra Circle. It was approved for 200 apartments plus 3,400 square feet of retail. It’s next…
Veteran developer Terra Group bought a public parking garage in Miami’s Coconut Grove neighborhood. The Miami Parking Authority, a quasi government agency that owns parking facilities throughout the city, sold the garage at 2850 Oak Ave. to Terra 2850 Mary Venture Partnership, which won a public bidding process after making an unsolicited offer. The four-story…
The Village at Gulfstream Park could get the second Cimemex dine-in movie theater in South Florida. The Hallandale Beach City Commission will consider an amendment to Gulfstream’s development agreement on Wednesday evening. It would allow a movie theater to be built behind Frankey’s Sports Bar, said Mike Fucheck, general council for Gulfstream Park owner Stronach…