2000s-Style Crash Unlikely for Hot Residential Market
South Florida's residential market is hot, maybe the hottest in the country, but where does it go from here? That's the central question facing our commercial real estate community these days—and why we're excited to host Bisnow's fourth annual South Florida Residential Forum. It begins at 7:30am on Dec. 3 at the InterContinental Miami. Please join us.
Adler Group CEO Michael Adler, who will be a speaker at the event, tells us that as Miami-Dade continues to develop as an international city, it becomes a more attractive place to live and work. "Increasing that attractiveness are residential projects that are close to public transportation, retail centers and sources of entertainment," he explains.
Also, mixed-use transit-oriented development provides a more livable environment that's responsive to the transportation challenges of a global city. "That's why we find our multifamily projects in Dadeland and Downtown Miami so exciting." Recently, Adler acquired the Riverside Tower development site at 230 Southwest 3rd St, and not long before that Adler Group and JV partners ECI Group and Canyon Capital Realty Advisors finished the 467-unit Shorecrest Club apartment towers at the 79th Street Causeway (pictured).
Miami Worldcenter Associates managing principal Nitin Motwani will also be on hand at our event to bring everyone up to speed on Miami Worldcenter, which he calls the last missing piece of Greater Downtown Miami. “We’re looking forward to Miami Worldcenter being under construction in 2016."
Demolition is nearly complete on the 27-acre site. The project is one of the largest privately built real estate developments underway in the US today. When complete, it will bring a 756k SF mall, an 1,800-room Marriott Marquis hotel and convention center, new public spaces and residential towers to the city’s urban core.
Hear more about the massive project, and a lot of other residential development, at Bisnow's fourth annual South Florida Residential Forum, beginning at 7:30am on Dec. 3 at the InterContinental Miami. Sign up here.