With all the building going on in Miami at present, it’s likely that the skyline will be impacted visually by projects large and small. And that new neighbors will likely be fluent in a variety of languages. The plethora of projects on the books, and studies that show that South Florida is a hot destination for foreign property-seekers, goes to show that people know a good thing-- when they see other people with it. Just last month, a Chinese partnership bought up a rare sliver of beachfront property in Miami Beach, seeking to place either a luxury hotel or apartments there. The partnership paid more than $38 million for the parcel, after the developer who owned it wanted out of the Miami market. And, the Ritz-Carlton Residences Miami Beach, (not owned by the hotel company) is basically a creative retrofit that is reclaiming what used to be the Miami Heart Institute. The design vision, according to the property’s website seeks to strike a tone of “elegant simplicity....
- Miami in 2030 will be home to a variety of high rises, new developments, and creative retrofits.
- Many people who seek a new address in Miami were born outside the US.
- New, luxury residences in the Miami area will not come cheaply.