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With the future of offices still uncertain, Miami gained traction as an office boomtown. A slew of corporate giants and startups announced they would be opening up offices in Miami. But the office market has yet to produce eye-popping statistics matching the hype.

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In its 890 feet of height, the Okan Tower is still planned to include three pools, one outside on the 70th floor, a spa, an outdoor lounge, a fitness center, a gastro kitchen, a children’s play center, a wine cellar, a rooftop restaurant, a movie theater and a cigar room. 

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The under-construction 55-story office tower — loaded with state-of-the-art amenities and building health systems — already is signing up big-name tenants, including Microsoft, WeWork, Thoma Bravo and CI Financial, with more to come ahead of its opening next year.

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Cryptocurrency isn’t the only corner of the tech world exploring new realities in Miami. 

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Microsoft will use the space at 830 Brickell as its new regional headquarters.

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Residential construction starts up 240%, nonresidential up 245%.

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As more frequent and more intense storms bring destruction, they also present us with a chance to modernize.

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Foreign investment in the U.S. may have slowed down during the coronavirus pandemic, but it didn’t disappear, and it’s been growing since international travel picked up, Miami real estate experts say.

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While COVID may be a catalyst, core reasons for businesses coming to South Florida remain solid: access, taxes and lifestyle. CLICK ON THE HEADLINE FOR MORE

A large chunk of prime development land in downtown Miami could soon be put up for bid by the Miami-Dade School Board – and developers could build a mega-project there, according to the Herald.

The property has the potential to become “a new Brickell City Centre,” according to an official with the Omni CRA, an agency that is working with the School Board.

The School Board could eventually offer up to 10 acres to developers in a ground lease with the proceeds to fund education, as part of a “21-acre vision.”

Already, a deal is in place with Crescent Heights for an acre of land which the developer will combine with adjacent property to build twin 60-story towers with parking, residential, and offices for the School Board.

If the School Board does put its property out to bid, it could generate taxes for the CRA that would fund several now projects each with hundreds of affordable housing units.

A new building would be constructed for iPrep Academy at Northeast 19th Street, on city property next to the City Cemetery. School Board funding would pay for the school, with CRA funding for hundreds of elderly affordable housing on top.

Another project would be the rebuild of Phillis Wheatley Elementary near Overtown and Wynwood. Hundreds of affordbale housing units would also be built on top.

A School Board meeting is scheduled on whether to move forward with a possible deal. An Omni CRA presentation is also scheduled and open to the public.

 

Source: The Next Miami