Miami ranked 6th on the Knight Frank 2015 Wealth Report ahead of Geneva, Dubai, Beijing and even Berlin! The report emphasizes that Miami is perceived as a destination, place to do business and even have a second, third home to the very wealthy individuals from all over the world. Following New York, Miami is the only most important city in the US to the wealthiest of them all. Why is this a great thing to know?
Investing in Miami today will not only ensure a booming future , but will boost the local economy a hundred times over. The Port of Miami Tunnel project alone will provide over 170,000 jobs with $6.4 billion in wages and $17 billion in economic growth. Brickell CityCentre will have an economic impact of about $1 billion with 1,700 construction jobs already in place and more than 5,000 jobs once completed and is expected to add $5.4 million in ad valorem taxes to Miami-Dade County.
The future of Miami starts today as the development and excitement that is brewing in Miami runs much deeper in providing a very bright, stable and promising future for so many that will call this magic city home.
Miami has always been known for its stunning beaches, international finance and non-stop nightlife which made it the ultimate vacation spot! Today, however people from all over the globe are choosing Miami as the destination to live in terms of culture, industry, commerce, art and entertainment. The city is now being referred to as the Wall Street of the South as a result to it business and commerce reach into Latin America, the Caribbean, South America, just to name a few.
Miami is also renowned for its festivities and exhibits such as Art Basel, Santa’s Enchanted Forest in December, the Coconut Grove Arts Festival in February, we are the yacht capital of the world, boat shows, some of the biggest music festivals such as Winter Music Conference, Ultra, fitness challenged, food and wine festivals and so more are a great attraction for an an audience from all over the world.
Here are some one the Game Changing Projects that are about to make Miami a more Booming City than it already is:
Seattle has the space needle, Chicago has the John Hancock Center and SkyriseMiami is next. SkyriseMiami will be a monumental 1000 ft high observation and entertainment tower; it will include an amusement-park style rise that drops people down its side, a 550-foot bungee jump, a ballroom, moving movie theater and a nightclub.
Brickell City Centre
This mega project will feature 5.4 million square feet of office, residential, hotel, retail and entertainment space as well as a two-level underground parking garage. It features a Climate Ribbon that will provide innovative climate control so that shoppers can walk without suffering the effects of the famous miami heat between stores and restaurant. Brickell City Centre is predicted to be an economic catalyst.
Miami World Center
Miami WorldCenter is one of the largest private master-planned projects in the Unites States, featuring 1 million square feet of shopping center, hotel, convention center and luxury residences.
One Thousand Museum
A true masterpiece envisioned by Zaha Hadid, one of the greatest architects of our time who won the equivalent to the Nobel Prize of the Architects from all over the world: The Pritzker Architecture Prize. With its own helipad, this futuristic marvel will be the only one of its kind in the Western Hemisphere. She has only built 1 other residential building and that is in London, Miami’s One Thousand Museum is the marvelous #2!
The New Miami Design District
More than 100 brands will have stores in the Miami Design District; all coming in 2015. Not too shabby for a once abandoned cluster of warehouses, the Miami Design District is undergoing a rebirth and claiming its stake as one of the most important global design and fashion hubs showcasing the most luxurious stores such as Hermes, Louis Vuitton, Cartier, Tom Ford, Armani to name a few. This mixed-use neighborhood will blend commerce with culture ,welcoming new restaurants and will become the neighborhood of choice for luxury retailers.
Port of Miami
By connecting SR A1A/MacArthur Causeway to Dodge Island, the project provides direct access between the seaport and highways I-395 and I-95, create another entry to PortMiami in addition to the Port Bridge to keep PortMiami, the community’s second largest economic generator, competitive.
Additionally, The POMT improves traffic flow in downtown Miami by reducing the number of cargo trucks and cruise related vehicles on congested downtown streets, and aids ongoing and future development in and around downtown Miami.
Among all the port-cities scrambling to get a piece of the multi-billion expansion of the Panama Canal and prepare for the massive new ships, Miami was one of the first to receive funding and federal approvals, and has officially begun to $220 million dredge that will deepen the harbor from 42 feet to 50 feet. The dredge combines with a $2 billion infrastructure upgrade, will make Miami one of the first and only U.S ports capable of housing the larger ships, that carry two to three times the load of standard freighters.
All Aboard Florida
Along with the Port of Miami Tunnel Project, the Al Aboard Florida which will start offering services between Miami and Orlando in 2018; will relieve much downtown congestion and improve traffic in and around the city. This upcoming high-speed rail service, will connect Miami to other Key Florida cities such as Orlando and Tampa. Miami’s ever growing diversity, international cuisine, high-end shopping and world-class entertainment is truly making Miami synonymous with cosmopolitain city living
And these are just to highlight the most important projects in the making!
Never before has a city been so ready to create its future like Miami. It is all around us: luxury and world class-living and all the other points emphasized above. The future of this city looks so awesome and bright. Home values keep increasing. The closely watched real estate index gave the greater Miami market the largest increase in November of any of the 20 metropolitan markets in track. This is the 23rd straight month of rising values. Taking a 12 month view, the Miami index grew the fastest since June 2006.
The time to invest is now! Miami is growing and blooming and booming like never before and will never be the same, we are becoming a GLOBAL SMART CITY… more details on this in upcoming blogs!