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Developers Are Buying Riverfront Properties on Miami River

Posted by Hugo Dorta/Buy Sell Rent Realty

Jul 10

With very limited development opportunities remaining in South Beach and on Biscayne Bay, developers are flooding to the Miami Riverfront area to build high rise residential condominiums and upscale restaurants.

 

Some history … for many decades, the Miami River, was used mainly by fishing boats and Caribbean bound container ships transporting bicycles, appliances, mattress and other goods to the nearby islands. Today, we are seeing the transformation. The Miami River – once a polluted trash dumpsite – and a favored route for drug smugglers – is today, one of the most desired and sought after areas in South Florida. Today, this growing and vibrant area is known as the Miami Riverfront.   The prices per SF are not cheap, the sales prices for some units at One River Point shall range from $850k to $2m.

 

The Miami River is exploding with new projects … and just to name a few, River Landing, an eight acre site, better known as the old mahi shrine auditorium, shall be a 426,000sf, mixed use of restaurants and retail; One River Point, being developed by NY developer Shahab Karmely, with acquisition costs of $60m, announced plans to build two 60-story residential towers; One Brickell being developed by The Related Group, with an acquisition costs of $104m is planning three residential towers with over 1,200 units; Edge, being developed by Aragones, plans to build a 58-story residential condominium tower; and Chetrit Group has assembled several parcels, with an acquisition costs near $100m and is planning to build four residential condominium towers, a hotel, dining and retail space.

 

The changes to the Miami River are long overdue … If you look at other US cities like Chicago, San Antonio and Savannah where city life often revolves around the river, the potential to create new vibrant waterfront neighborhoods are certainly there.

 

For more information on the Edge, and other pre-construction condominiums, please call 305.377.2100 or contact Hugo via email at HugoSellsMiami@gmail.com. Whether you are interested in Buying, Selling or Renting, we can help…

With very limited development opportunities remaining in South Beach and on Biscayne Bay, developers are flooding to the Miami Riverfront area to build high rise residential condominiums and upscale restaurants.

 

Some history … for many decades, the Miami River, was used mainly by fishing boats and Caribbean bound container ships transporting bicycles, appliances, mattress and other goods to the nearby islands. Today, we are seeing the transformation. The Miami River – once a polluted trash dumpsite – and a favored route for drug smugglers – is today, one of the most desired and sought after areas in South Florida. Today, this growing and vibrant area is known as the Miami Riverfront.   The prices per SF are not cheap, the sales prices for some units at One River Point shall range from $850k to $2m.

 

The Miami River is exploding with new projects … and just to name a few, River Landing, an eight acre site, better known as the old mahi shrine auditorium, shall be a 426,000sf, mixed use of restaurants and retail; One River Point, being developed by NY developer Shahab Karmely, with acquisition costs of $60m, announced plans to build two 60-story residential towers; One Brickell being developed by The Related Group, with an acquisition costs of $104m is planning three residential towers with over 1,200 units; Edge, being developed by Aragones, plans to build a 58-story residential condominium tower; and Chetrit Group has assembled several parcels, with an acquisition costs near $100m and is planning to build four residential condominium towers, a hotel, dining and retail space.

 

The changes to the Miami River are long overdue … If you look at other US cities like Chicago, San Antonio and Savannah where city life often revolves around the river, the potential to create new vibrant waterfront neighborhoods are certainly there.

 

For more information on the Edge, and other pre-construction condominiums, please call 305.377.2100 or contact Hugo via email at HugoSellsMiami@gmail.com. Whether you are interested in Buying, Selling or Renting, we can help…