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Feeding into a record-breaking in demand real estate market, multifamily developers have enough work in the pipeline to last into 2024.

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Three towers, between 39 stories and 48 stories, would sit on top of a new public parking garage with 1,350 spaces and retail on the ground floor.

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The project would have three 57-story towers connected by a podium at the base, comprised of 2,195 residential units, 540,000 square feet of offices, 49,999 square feet of retail and 2,457 parking spaces.

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If selected, construction would begin in 2023 and take 59 months to complete. 

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If approved, the development would not only be the largest residential development in Downtown Miami, it would also dwarf all the other projects in Miami Worldcenter, the master-planned project underway in Downtown Miami.

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The church, which was developed in 1926 and placed on the National Register of Historic Places in 1989, would remain standing and be transformed for new uses through adaptive reuse.

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Values are expected to increase 11%, while yields will average 6%.

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MAJOR. will be the firm’s fifth supertall skyscraper and third project in the Brickell neighborhood.

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Of renters looking to move, an average of 40 percent were looking to move out of the metro where they resided in the third quarter of 2021, according to a report from Apartment List, based on searches on their platform.

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For the first time, Miami has topped the high-end residential price index according to a sales report issued by the Knight Frank firm that analyzes price changes for the most desirable and expensive properties in a given location in the market by value for 46 cities across the world.