The 2.8-acre parcel, located at 700-799 Brickell Avenue, was once slated to become the One Brickell City Centre, a 1,000-foot-tall office tower. However, Swire scrapped those plans earlier this year, citing difficulties in the current office market.
The condominium sales in the South Tower of the two-tower project reached a major milestone by surpassing $1 billion. The 66-story tower is now 50% sold, underscoring the city’s continued demand for high-end real estate.
As of May 5, 2025, no recertification documents had been submitted, prompting the city’s Unsafe Structures Board to schedule a hearing for May 16 regarding the condo association’s non-compliance.
The initial component, a residential building named Aurea, will be reviewed by Miami’s Urban Development Review Board on May 21.
Miami’s office market has experienced a significant resurgence in early 2025, with leasing activity reaching its highest levels since late 2023 and rental rates climbing sharply.
New York City had already been losing residents since 2017, but the trend accelerated during the pandemic. Many of the wealthiest chose Florida—particularly Miami and Palm Beach. This influx of high-income buyers led to a sharp rise in home prices.
Amid rising construction costs, fluctuating interest rates and tariff disputes, developers are increasingly choosing to sell sites they have spent years entitling rather than sit on land they can’t afford to build on yet.
From luxury condo launches to housing for essential workers, there are eight major developments shaping Miami’s property market.
Grappling with growing issues around affordability, safety, and intense development, here’s a snapshot of the top challenges highlighting the region’s housing struggles.
The real estate market in South Florida is undergoing a dynamic shift, tackling long-standing challenges around affordability, urban density, and lifestyle. Here are five key trends shaping the local market.