The property is currently available for sale or joint venture partnership.
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For now, however, the mood is cautious. Developers who expected a seamless run of rent growth and cheap financing are recalibrating — or cashing out.
Spanning 509,447 square feet on approximately 12 acres, The HueHub will feature seven striking 35-story towers comprised of 4,032 thoughtfully designed and furnished residential units.
The ordinance, approved on first reading by Miami City commissioners, is intended to help the city align with Miami-Dade County’s rapid transit zoning policies and Florida’s Live Local Act. However, critics described the initiative as favoring developers over neighborhoods.
The initial component, a residential building named Aurea, will be reviewed by Miami’s Urban Development Review Board on May 21.
Surging housing costs and a fickle labor market, which by one measure still hasn’t recovered from the pandemic are sending many locals packing. Miami-Dade lost 79,535 people through net migration to other parts of Florida or other states between 2020 and 2022. Still, there are reasons for optimism.
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.