Article of Interest to Owners of commercial real estate in Miami Beach: Redevelopment Engulfs North Miami Beach
I wanted to draw your attention to an article that affects anyone considering commercial real estate in Miami Beach. The name of the article is called "Wave of Redevelopment Engulfs North Miami Beach." It was written by Catherine Lackner on March 12, 2019. It reads as follows:
A wave of redevelopment spurred by zoning changes enacted by the City of North Miami Beach has ushered in new market-rate housing, expanded commercial development, and even the prospect of a Brightline station.
“It’s our time,” said Mayor Anthony F. DeFillipo. “We’re extremely excited and expect phenomenal things to take place in the next three to five years.”
Founded as Fulford-by-the-Sea in 1926, North Miami Beach is sandwiched between North Miami, Miami Gardens, and Sunny Isles Beach. Aventura and Golden Beach are to the northeast. Click here to continue read the article.
As a broker who focuses on multifamily commercial real estate in Miami Beach and the surrounding areas, these large-scale city planning and development operations have huge impact of house, land, and rental prices in the immediate vicinity.
Creating a Strategic Plan for NMB
One of the major goals of the North Miami Beach Strategic Plan adopted by the Mayor and Council is the revitalization of our City’s Downtown area and our major corridors. To achieve a more vibrant downtown and help our major corridors to thrive, the City underwent a new zoning initiative, creating several new “Mixed-Use Districts” in key development locations throughout North Miami Beach.
Mixed-Use & Form Based Zoning Initiative
The new Mixed-use zoning districts apply to a number of key locations, and are designed to help promote the efficient use of the land, as well as the clustering of different land uses, to employ the principles of good urbanism in the planning and development of the city. Districts allow both residential and nonresidential uses, and generally include an increase in the development rights over what could be built previously.
