Sales will launch in late 2023, with prices starting at $3.5 million.
Miami’s office sector saw the greatest dropoff, registering just $6 million in sales in the first quarter of 2023, compared with $226 million in 2022, a 97 percent decrease.
Between August 2021 and July 2022, foreigners invested US$6.8 billion in the purchase of properties in Miami Dade, which implies an increase of 34% compared to the previous twelve months.
Among other things, the bill grants developers the ability to build the maximum amount of units a local jurisdiction allows – and at the maximum allowed height within a mile of a project’s site – on almost any property zoned commercial, industrial, or mixed-use.
The only startup hub worldwide that grew faster than Miami over the past five years was Tokyo, according to the ranking.
Miami has made significant progress in the past decade. The city has established itself as a global hub and a top 10 destination for venture capital investments in startups, diversity, and business formation.
Lawmakers across the country have sounded the alarm on foreign influence over agricultural production and national security in the U.S., but a Forbes article published in March states that 18 other countries own more agricultural land nationwide than China.
HB 1355 and its companion SB 264 would restrict ownership of land and property by those from seven “countries of concern” — including Cuba, Venezuela and Russia — a response to reports of a Chinese company buying farmland next to a North Dakota Air Force base last year.
Premiums for commercial insurance at the end of 2022 in places like Texas, Florida and California jumped 30% to 50% or more, according to the institute.
The tower will become one of the tallest in Miami, at 861 feet above ground. It will also be the world’s the first residential high-rise in the world partially powered by the sun with 500 photovoltaic-integrated windows.