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MIAMI RIVER HISTORY

CLICK HERE FOR AN ARTICLE ABOUT THE HISTORY OF THE RIVER


    MIAMI RIVER AREA PROJECTS

New Construction
(Estimated ground breaking/Completion)
 & Planned Developments
 Other Projects
in the Area

Brickell on the
River
North Tower
    
4th Qtr 2005

Brickell on the River South Tower

      

The Ivy
(March 05-

Latitude on the River
(4th Qtr. 2004)
Completion (late 2006)

 

Mary Brickell Village

 Miami River Village

Miami Riverhouse 

Neo Lofts
Completed May 2004

 

Neo Vertika.
(July 04)

Opus on the River

Reflections
on the River

Pre-launch

River House Lofts

Terrazas River Park Village

The Esplanade

The Water Gardens
(end of 2004)

 

One Riverview Square
Offices

 

 Proposed projects
Residential Table

 

Proximity area developments

click on names above or follow this link for:
"All MIAMI RIVER projects", Information, Pictures,Details"


Other projects in the Brickell Area

Other projects in different areas of Miami

New construction on Trendy Biscayne Boulevard Corridor  


Buyer or Investor: Need financing?

Why using a Realtor when acquiring new Construction?


Posted on Sun, Nov. 07, 2004

MIAMI RIVER DEVELOPMENT

River businesses fear future


The Miami River is getting a long-awaited cleanup. It's also becoming popular, especially with the condo crowd, but some businesses worry it might be a little too popular.



mrvasquez@herald.com

Shipyards along the polluted, long-neglected Miami River -- Florida's fourth-busiest port -- have waited decades for this moment. Dredging of the river has begun, a process that will scoop 900,000 tons of sediment from the waterway.

When the project has been completed several years from now, the Miami River will be cleaner and deeper -- the new depth giving a boost to commerce now handicapped by the gook piled up on the river bottom. Cargo ships that now traverse the river can do so only at high tide and cannot completely fill their holds.

All that will change. But other changes also are afoot.

Developers of high-rise condos have discovered the river and are snatching up industrial properties. Miami leaders have embraced this transformation, routinely rezoning land there to accommodate a burst of residential development. More than 7,000 residential units are now either under construction or in the final stages of permitting.

That makes some river businesses wonder whether they will survive, even though the main purpose of the $84 million dredging project -- at least on paper -- is to aid the shipping industry, not create a nicer water view for penthouse-apartment dwellers.

''I worry daily,'' said Beau Payne, owner of P&L Towing, a tugboat company on the river. Payne said city leaders are trying to create a yuppie-friendly ``South Beach thing.''

''They want to develop the river and get rid of us,'' he said.

Miami City Commission Chairman Joe Sanchez insists there will always be a place for marine businesses along Miami's ''working'' river -- a $4 billion-a-year economic engine credited with creating, directly and indirectly, roughly 8,000 relatively well-paying local jobs.

But Sanchez does not dispute that the river is evolving -- and quickly.

A RICH HISTORY

Miami's river is the city's birthplace -- it snakes through its geographic heart, and along its banks are numerous remnants of the area's soul. Among them are the 2,000-year-old Miami Circle -- evidence of an ancient Native American village -- historic hotels, parks and neighborhoods.

Early in Miami's existence, the river became a center for trade, and that trade has blossomed even as environmental and navigational conditions declined. The maintenance dredging being performed on the river today has never been done before and is widely seen as long overdue.

In its current, clogged-up state, the river is still Florida's only shallow-draft port. That makes it a vital shipping link to the Caribbean, where many cities are served exclusively by smaller boats unable to dock at mammoth facilities such as the Port of Miami-Dade.

Since 2000, the city of Miami has converted about 26 acres of riverfront marine industrial land into residential properties. Developers have their eyes on nearly 18 additional acres. If that land goes high-rise as well, more than half the industrial land along Miami's portion of the river -- the county controls the upper third -- will be gone. The county's share of the river, entirely industrial, has thus far remained that way, although condos are creeping ever closer.

SENSIBLE LIMITS

''There's a mad rush to develop along the river because it's prime property,'' Sanchez said. ``Where do you draw the line? I think that's the $65 million dollar question.''

Robert Parks, former chairman of the Miami River Commission, thinks there's an answer to the dilemma: It's called the Miami River Urban Infill Plan.

The river commission -- a collection of elected officials, businesses, residents and other stakeholders -- in 2002 adopted its infill plan, partially funded and drawn up by the city of Miami. The plan spells out exactly what should be built where along the river. It has since won an award of excellence from the Florida chapter of the American Society of Landscape Architects Planners Association.

But the Miami City Commission has refused to adopt this blueprint for future development. The city expressed doubt that it included sufficient economic data and so began a separate economic study of the river, which has not yet been completed. Because it has not accepted the plan, the city is not bound by its guidelines. Those guidelines call for fewer condos on the river than some city leaders want.

''The plan needs to be adopted,'' said Parks, the former river commission head. ``Or the river fails.''

Parks, who recently stepped down from the commission for ''personal reasons,'' expressed disappointment about never being able to strike up a working relationship with Miami Mayor Manny Diaz. Diaz could not be reached to comment for this report.

''I don't know what the mayor's position on the river is,'' Parks said. ``I tried to find out but couldn't.''

City Commissioner Angel Gonzalez, a Diaz ally whose district encompasses much of the river, has been vilified by some in the marine industry as being recklessly pro-development. Gonzalez was the chief proponent of Hurricane Cove, a controversial 1,072-unit condo development approved by the city earlier this year. The project's three towers -- two of 28 stories and one of 26 stories -- replaced a public boatyard.

AN ACTIVE ZONE

When asked what the future of the river should be, Gonzalez said, ``My vision is what is happening right now -- redevelopment, building homeownership units, restaurants, nightclubs, discotheques, bars, you name it.''

Gonzalez said his priority is that land not sit idle. Some industrial properties on the river had been abandoned for years, he said, so they were rezoned for condos.

Most shipping companies are located in the county's portion of the river anyway, Gonzalez added.

Richard Dubin, owner of 5th Street Terminal in the city's section of the river, says industry is not dying so much as it is consolidating. He is working to close a deal in which he would sell his shipping business to a condo developer but plans to continue working on the river -- probably as part of a larger company in the still-industrial upper third of the waterway.

''It's going to be shuffled; instead of 15 little operations, it might be six larger operations,'' Dubin said. ``Boats are still going to pass by. You can still watch them.''

If those fewer shipyards can pick up the slack and avoid a drop-off in the amount of cargo going in and out of the river, Uncle Sam will be satisfied. The federal government agreed to contribute more than $59 million to the dredging project in the name of helping commerce.

Should industry vanish, so too would that federal money.

But as long as the overall cargo figures stay strong -- whether being carried by four companies or 40 -- the dredging can go forward as is, said Luis Rene Perez, project manager with the U.S. Army Corps of Engineers.

''We haven't seen any substantial drop there to justify the government pulling out,'' Perez said



IT'S NO SURE BET, BUT RESIDENTS PUTTING MONEY INTO MIAMI RIVER AREA
 
Mar 18, 2004
From Miami Today Newspaper, March 18, 2004
By Samantha Joseph

It wasn't long ago that the Miami River was known for moving cargo and contamination. Now, the area around the river near downtown is becoming hot for young professionals looking for a home with potential - even if it still might be something of an investment gamble.

"Everyone thought I was crazy because of the neighborhood," said Jeanette Maseda, a physical therapist who moved in December into a new home at Neo Lofts (picture below) a $27.5 million development. Neo Lofts is the first residential development in the River Drive neighborhood in about 20 years, said developer Lissette Calderon. The neighborhood is a low- to middle-income community at the river's southern end in east Little Havana.

"The price was right but there was a lot of risk," Ms. Maseda said. "It was a new concept, a new area, a new developer. We were living without walls in an area that has had no new development." She said her risk was one she "didn't think twice about. If I had more money, I would have invested in more property there. "

Ms. Maseda said she believes a planned revitalization of downtown Miami will reward her by bringing culture, art and entertainment almost to her door. Promised attractions such as restaurants, parks and the $370 million Miami Performing Arts Center would be blocks away. "I thought I wanted to be one of the first ones on the river because I knew it was an idea that was going to catch on," she said. She was the first Neo Lofts resident to close on her home.

The river has caught on with several developers, according to Brett Bibeau, Miami River Commission managing director, who said the area has attracted $2.5 billion in private development.

About 16 residential developments are active around the 5.5-mile river that runs from near Miami International Airport to Biscayne Bay, according to the river commission, which oversees policy and projects. Those that have broken ground are to add 7,000 residences to the river, Mr. Bibeau said.

One developer, Miami Riverfront Partners LLC, intends to invest $184 million in Latitude (picture below) on the River, a mixed-used complex near Brickell at 615 SW Second Ave. The project would include 455 condominiums in a 44-story building scheduled to open by December 2006. "This was just a natural, based on the opportunity to be along the river," said development director Steven Gelb. To live there, residents will have to spend $170,000 to $600,000.
"The Miami River corridor is going through a renaissance period," Mr. Bibeau said. "Most of these parcels have been vacant for decades. Some of them have even been contamination sites."

In the past three years, city officials have recommissioned a cleanup vessel and created four riverfront parks and plan to add a picturesque walkway to bring visitors and residents to an envisioned "24-hour neighborhood," Mr. Bibeau said. Ms. Calderon is planning her second river development, NeoVertika, (see picture below) which is to break ground in May.
She said 95% of its 443 split-style condominiums have been pre-sold.
"Here we were in Miami and we had neglected the river for several years, for the most part just using it as a working river," she said. "There's a lot of life and energy on the river. It's a unique experience in the heart of the city, and we continue to be great believers in the Miami River area."

Real estate broker Edmund Mazzei, who purchased a two-bedroom loft along the river for $270,000 as a second home, said he views each new project as a catalyst for further development along the river. His daughter, Tanya Grijalva, who lives in the loft, said she sees the property as a valuable investment that will grow as development continues along the river. "I'm excited to see what the area will be like in a couple of years," she said. "My father figured that this was the time to buy and saw it as an opportunity." Ms. Grijalva, an accountant working on Brickell Avenue, moved downtown from Coral Gables for a shorter commute and to enjoy the area's nightlife and entertainment. "I wanted to live somewhere that was nice and clean but happening," she said. "I live five minutes away from where I work, and that's definitely one big fringe benefit for me. I definitely do not see myself moving any time soon."

Thomas Franco, 33, director of UBS Global Asset Management, said he considered homeownership on Brickell Key but opted two years ago for a River Drive address instead. "You can almost see the potential there," he said. "It just seems that there's a lot of room to grow there that I haven't seen in other parts of Miami. Right now, more and more people are talking about the river," said Mr. Franco, "but two years ago it was a hidden gem. It reminds me of Brickell Key about five years ago and seems to be poised for that kind of growth." He said lower prices along the river reinforced his decision. "I am one of those people who like to be part of a growing community," Mr. Franco said. "The whole vibe of the river and what they're planning to do with it as they move forward appeals to me, but the risk is that the river won't develop as fast or to the capacity that a lot of people think it will. "My vision of development is not 12 or 24 months. It's more long-term," he said. "I'm not in this for real estate speculative play. This is going to be my home."
http://www.miamitodaynews.com/news/040318/story5.shtml


Map of the Miami River




NEW CONSTRUCTION PROJECTS ARRANGED BY AREA

click on the links below if you'd like detailed information on areas of your interest.

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Area
Central
Area
 Aventura

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& Normandy Isle

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For more information, please Contact Us.

        Omar H. Scandura, P.A., Realtor, e-PRO

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 MailTo:BuytheRiver@MiamiRealtyShow.com
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   Carson Realty Group,Inc         
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Information believe to be accurate but not guaranteed. Prices, Terms & Availability are subject to change without notice. Subject to errors, omissions, prior sale and withdrawal at any time. Square footage is believed to be accurate, but may be revised.All Names and Pre-Construction information are property of their corresponding developers. The material in this site is based upon information which we consider reliable, we cannot represent that it is accurate or complete and it should not be relied upon as such.

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