The North Beach and the Arts & Entertainment District are among some areas that have turned into the trending real estate areas in the larger part of Miami, as the last quarter of 2012 went under way, based on the current talks with developers and real estate analysts.
According to an interview with senior vice president for Marcus&Milichap, a brokerage company, Alex Zylberglait said, "These emerging areas are seeing a renaissance of activity.He added that, "Pricing is going up as land is becoming [scarcer]."
North Beach
The North Beach is a quiet community with low-rise apartment buildings and single-family homes, which is almost to experience notable change once Terra Group, a developer, will do a ground breaking on its 34-unit, 20-story luxury condominium at 8701, Collins Avenue.
Guy Smilovich, a real estate investor from New York City, is a little optimistic on this area. He said that he purchased the community because it has "long-term worth."
The Arts & Entertainment District
NR investments for three years has proposed its tent in this district, which links the Design District and Wynwood. The community is strategically placed for major development, said Nir Shoshani of the said firm. They are announcing the projects for the 37-floor condominium tower Canvas, and has sold over 200 out of the 513 units.
His realty firm also invested on a one-acre parcel on North Miami Avenue between Northeast 15th and Northeast 14th, where NR wishes to build an integrated-use project with residential, corporate and hotel components.
Another evolving community in Miami is the Wynwood, an integration of street art, urban grit, new-start-up ventures and unique retail, which is underway as SoBE'S main project, described to be very creative, original and accessible. The truth is Wynwood's unique build was recognized by the American Planning Association, and is regarded as part of the "15 Great Places in America" roster. The question is, are the people in Miami embracing these evolutions?
