New Projects for High Rise Condos In Miami Are In the Works

By Sunny Isles Real Estate Expert on March 5th, 2013

Fisher Island Real Estate For Sale

Pre Construction Condos Miami

In separate deals, two realtors have current plans to propose the construction of new high rise condos in Miami Beach. These two locations would be named Residences at the Miami Beach Edition and Deauville Hotel Beach Resort. Together, the two proposed developments would boast 440 units. This would bring the total amount of proposed unit developments to 13,315 since 2007, when the housing market bubble first burst.

In the 5 years since the market first crashed, one new tower has been constructed, and 12 high rises are currently in the construction phase. For the Miami Beach pre construction projects, the Residences at Miami Beach Edition would call for an 11 story tower to be built, with 26 of its units being designated as part of a resort complex. On the 4.2 acre site, there would be plans for at least 3 towers to be built.

In June of 2010, the developer of this project purchased what was formerly known as the Seville Hotel for approximately $57.5 million. The Seville Hotel was originally constructed in 1955. Prior to the housing market crash, the hotel was going to be revamped and reopened as resort under the Ritz Carlton flag.
To the north of Miami, on one of its barrier islands, building proposals for a 20 story high rise with an estimated 412 units are currently in production. The developer of this project is Deauville Associates LLC. They are currently seeking approval from the government to build this new high rise tower. Prior to this, they have sought and received approval to build a tower that would hold 150 condo units, but this new, more ambitious project has replaced the old one. Approval for the project will take several months to seek out.

Since 2003, approximately 49,000 new units have been created in South Florida. Of these numbers, 94% have been purchased by foreign investors. While there are currently many new plans in place, if approved, most of these new projects are not scheduled for completion until 2014. This is the projected date for when the last of the unsold units from the prior Miami real estate boom will be sold. As of right now, it is not clear how these proposed towers will be built. Obtaining construction financing has never been more challenging for developers, and there is the uncertainty principle regarding who exactly will purchase them.

In an effort to surmount future financing problems, developers of these new high rises are requiring prospective buyers to pay deposits, some as high as 80% of the unit’s price, in phases. By comparison, before 2006, developers were only requiring deposits of 20% from buyers. Real estate agents and firms will certainly be casting an eye towards these new developments with baited breath. The Miami housing market is only just now beginning to show signs of recovery from the previous economic depression, and if the market were to become oversaturated with new housing again, it could spell potential disaster.

Victoria Park Homes in Fort Lauderdale, Florida

By Sunny Isles Real Estate Expert on August 22nd, 2011

Victoria Park Fort Lauderdale Homes For Sale

Victoria Park Fort Lauderdale Real Estate For Sale

Victoria Park homes for sale

include a wide range of homes, many of which offer stellar locations and up to date features. Victoria Park, which includes the community of Victoria Isles, is a large area that offers a great number of options in terms of home styles and pricing. In the specific Victoria Isles portion of the city, which is more exclusive there are just 38 single family homes located on the Island on North Gordon Road. The entire region is to the south and east of the Fort Lauderdale city region, but it takes just a few minutes to get to the downtown area or to Las Olas itself.

Location is important. The homes at Victoria Park are located within minutes of other prominent areas as well, including Fort Lauderdale Beach. Some of the homes in this area are on the waterfront itself. This is usually off the canals located here. If you wish to live on the water, do keep in mind that some of the homes in the area have modern features, including docking or marina options. This means you are just a few minutes’ walk from the heart of the waterfront area. One of the added benefits of this location is that it is off some of the deep canals off the ocean. This means that your larger yachts and boats will have no trouble navigating the waters. There are no fixed bridges, either.

The community of Victoria Park

is welcoming and friendly. It has sidewalk lined streets that you can feel comfortable walking your pet on. The homes are spacious and beautiful, with many of them having modern amenities and renovations. Some of the homes or property areas are less modern and are priced based on their location. For those who are looking for an upscale neighborhood, within minutes of the waterway and waterfront, as well as numerous area attractions, this may be the ideal place to visit.

The Victoria Park real estate

is within minutes of all of the Fort Lauderdale benefits, including the beaches and boating, but also the area entertainment, shopping and restaurants. You will find spacious homes here, as well as smaller options. However, there is a community feel to the neighborhood.

Do keep in mind that Victoria Park is a well-priced region. It is full of luxury homes with some of the best décor and architecture available. In addition to this, you will find lush greenery, spacious landscapes and plenty of room to spread out. This is all just a few minutes from the main downtown region of Fort Lauderdale, too.

The Victoria Park house

is a great place to retire to, or to purchase your secondary home in. You may want to live here year round once you learn of all the area benefits available. For those who want luxury, well-priced properties that allow you to create the look and feel you are after, Victoria Park and the Victoria Park Isles may be the ideal place to look. Find out what fits your needs here.