Here's the link, just in case:
The idea to turn that part of town into a Bal-Harbour-style retail has been in the works for some time now; as a mater of a fact, earlier this year, they announced that there were several luxury brands already signed on. But then that shouldn't be surprising since the article also states that the project is being developed in conjunction with a Real Estate division of Louis Vuitton.
The section you're referring to is outside of the planned upgrades, but quite near it, so logic would deduce that if the neighbor's getting a make over, everyone in the neighborhood benefits.
Now, whether there are any specific projects already on the table.... For that, you might want to check specifically with the entities mentioned in the article, as well as some of the Real Estate firms that are specializing in the area.
I'm sure there are plenty of activity on the drawing boards, so getting yourself familiar with the people involved now might help get your foot in the door later. :)
Gloria Rodriguez de los Reyes
(305) 229-1146 off
(786) 322-9438 cell
This area has been improving consistently in the past years and will continue to do so. The Midtown Miami area is becoming increasingly popular and is gaining a reputation as the new fashionably trendy hot spot in Miami. It is being compared to New York's SoHo and meat packing districts. Hermes and Louis Vuitton have recently announced that they are closing their Bal Harbour stores and relocating them to the Design District. By 2014 it is expected that between 40 - 50 luxury retail brands will open shops in in this area, representing approximately 400,000 square feet of shopping space and restaurants. Additional stores include Bulgari, Celine, Moet Hennessy, Christian Dior, Fendi, De Beers, Cartier, Pucci, Ermengilio Zegna and Ducati. As far as specific projects in the area the main one is Midtown Miami, close by on N Miami Av is Cynergy and one can only expect more to come as the demand for the area continues to increase.
If you'd like to obtain additional info or would like to see property options in the area please do not hesitate to contact me.
Having a couple of clients that own and are in the process of redeveloping their properties on 2nd Ave the future is looking very good. The area is very active with buyers who are active and are aggressive in their pursuit of property. The continued residential and retail development at Midtown, Design District, Wynwood and along Biscayne Blvd will only help increase the demand and development of 2nd Ave between 20 and 36 Street and even a little beyond.
If you would like to discuss further please feel free to contact me.
I think that this area of Miami is going to have an above average increase in price over the next few years. For this reason, if I owned property in the area, I'd lean toward leasing it out, rather than selling in the short-term. The only exceptions would be if the property couldn't be rented as-is, or if I had payments more than the lease would command (short sale scenario).
Give me a call if I can help you put together a plan. 786-332-7042.