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March 03.2025

2 Minutes Read

What's New in Florida: Transwestern Moves and Chef Openings Highlight Growth

New Florida restaurant openings with inviting atmosphere.

Transwestern's Strategic Relocation to Coral Gables

Transwestern Real Estate Services has made a significant move in South Florida, shifting its office from downtown Miami to Coral Gables. This strategic relocation involves a lease of 4,500 square feet at The Alhambra, located at 2 Alhambra Plaza. The change not only marks a shift in address but also aligns with the firm’s collaborative goals, as DWS Group, a prominent name in asset management, owns the building.

Exciting Culinary Ventures from Celebrity Chefs

The culinary scene in South Florida continues to thrive with the opening of La Cañita, a new restaurant by renowned chef Michelle Bernstein and restaurateur David Martinez, located at Palms at Town & Country in Kendall. The venue, which occupies 5,400 square feet and seats approximately 180 guests, enhances the area's gastronomy offerings, adding to Bernstein's roster of acclaimed ventures, including Café La Trova and Sra. Martinez.

Thriving Arts District Welcomes New Tenants

In Fort Lauderdale, the Thrive Arts District is rapidly developing, welcoming six new tenants, including Pulse Pilates and Summit Marketing & Promotions, adding diversity to the community. This growth reflects the area's revitalization efforts, positioning it as a cultural hub with a blend of unique businesses catering to local and visitor interests.

Sixty Vines: A New Culinary Experience

Downtown Fort Lauderdale is set to gain a notable dining spot with the opening of Sixty Vines, which has leased 10,000 square feet on two floors at 800 East Las Olas Boulevard. Known for offering 60 wines on tap along with vineyard-inspired dishes, this restaurant is positioning itself as a must-visit destination for wine aficionados.

The Rise of Wellness and Fitness Ventures

Additionally, the introduction of Champions World Boxing & Fitness in Pompano Beach illustrates a growing trend in the area toward health and wellness enterprises. With 4,000 square feet, this venue promises to provide both fitness enthusiasts and newcomers with an engaging environment to pursue their health goals.

As Coral Gables continues to grow with new businesses and opportunities, homeowners and investors alike should keep a close eye on these developments which not only enhance the local economy but also shape the community's lifestyle.

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07.29.2025

Unlocking Edgewater's Potential: Live Local Act Approval Sparks Development

Update Edgewater's Future: A New Chapter for Miami's Skyline The recent approval of the Live Local Act for an Edgewater site marks a significant turning point in Miami’s real estate development landscape. The partnership of Amit Kort and Ofir Gabriel, operating under the name Tulip Developments Group, is poised to transform a modest assemblage of 0.8 acres into a soaring 47-story residential tower. This project promises not just to add height to the skyline but also to cater to the community's pressing need for affordable housing. Understanding the Live Local Act Under Florida's Live Local Act, a crucial incentive for developers, projects can be constructed with higher density than what current zoning laws typically permit. By dedicating 40% of units for households earning up to 120% of the area median income (AMI), the act plays a pivotal role in addressing workforce housing shortages. With Miami-Dade County's AMI for a one-person household set at around $86,800, developers like Tulip ensure these vital housing options are within reach for more residents. Economic Benefits and Community Impact The approval of this project is not just about luxury high-rises; it's also about revitalizing areas that need it most. Located in an Opportunity Zone, this site allows investors to enjoy tax benefits while uplifting potentially underdeveloped neighborhoods. The Live Local Act approval, combined with transit zone bonuses, enhances the project's viability and its capacity to accommodate the diverse needs of the Miami population. A Vision Driven by Local Needs Designed by prominent Miami architect Kobi Karp, the development isn’t solely focused on market-rate units. With plans for 296 market-rate apartments, 203 workforce housing units, and retail opportunities on the ground floor, the project is set to foster a vibrant community-centric atmosphere. This mix of high-density living and local commerce aims to ensure that residents have access to essential services right by their homes. Conclusion: What's Next for Buyers? As Miami continues to evolve, the need for balanced and inclusive development becomes ever more urgent. This new project by Tulip is not only a response to that need but also a model for future undertakings in the city. Florida homeowners and potential buyers in the area should stay informed about these developments, as the changing landscape may open opportunities for more affordable housing options in the near future.

07.29.2025

Crow Holdings Acquires 376-Unit Apartment in Davie for $97.5 Million

Update Rising Interest in South Florida RentalsThe multifamily investment sector in South Florida is witnessing a resurgence, particularly highlighted by the recent acquisition of the 376-unit 33 West apartment complex in Davie. Purchased by Crow Holdings for $97.5 million, this deal, valued at approximately $259,000 per unit, indicates a renewed confidence in the region's rental markets after a downturn precipitated by rising interest rates.A Closer Look at 33 WestCompleted in 2013, the 33 West complex features a mix of one-bedroom to three-bedroom units, with rents ranging from $2,105 to $2,767 per month. Its appeal stems from its size and amenities, situated on a spacious 15.5-acre site, making it attractive for a variety of residents in today's competitive rental market.Market Dynamics ShiftThe landscape for multifamily investments has changed significantly since the pandemic’s peak rental demand. During 2021, Broward County reported an impressive $5.3 billion in multifamily investment sales. However, due to elevated interest rates and a cooling influx of new residents, sales figures have dropped to a projected $1.2 billion in 2023. Deals like the Crow Holdings purchase suggest that while the market cools, there remain robust opportunities for serious investors.Cash is King Amid Higher RatesThe trend of all-cash deals has grown as buyers like Crow Holdings aim to sidestep hefty interest payments. Unlike many recent purchases that involve financing, Crow Holdings did not record a mortgage for its 33 West acquisition, potentially indicating a strategic move towards liquidity amidst rising rates. This trend may shape the future landscape of multifamily housing investments in South Florida.Given these market dynamics, it’s essential for Florida homeowners and potential investors to remain informed about the fluctuations in the rental market and consider strategic opportunities. Engaging with local real estate experts and staying aware of current investment trends can equip homeowners with the necessary insights to navigate these evolving circumstances.

07.28.2025

Ockap Caviar Restaurant and Financial Shift: A New Era for South Beach

Update Ockap Caviar: The New Culinary Attraction in South BeachMiami Beach is set to welcome a fresh culinary gem—Ockap Caviar & Cuisine will open its second location at One Ocean in the highly sought-after South of Fifth neighborhood. The restaurant is making waves as it occupies a spacious 3,200 square feet with a remarkable lease rate of $175 per square foot, a record-breaking figure in the area.Financial Firms Move to Bay Harbor IslandsAlongside the opening of Ockap, Bay Harbor Islands is attracting attention from financial industries as Legacy Wealth Advisors and NewCo Capital Group relocate their headquarters to Terra’s new development, The Well. Legacy will occupy a 5,000-square-foot space, while NewCo will take an 8,800-square-foot office. This movement showcases not only the upscale amenities of the area but also a trend toward improved business environments focused on health and wellness.The Impact of New Rentals on Local BusinessesThe real estate trends seen in Miami Beach and Bay Harbor Islands reflect a growing demand for premium lifestyle offerings. Ockap's arrival adds to an already vibrant restaurant scene, enticing food enthusiasts. Meanwhile, the financial firms bolster the local economy, signaling opportunities for further development and growth.Local Amenities and Community DevelopmentThe Well at Bay Harbor Islands promises a blend of functionality and wellness, featuring air and water purification systems and spacious rooftops that enhance community living. The inclusion of an organic market and fitness programs in its residential component emphasizes a lifestyle trend focusing on health, attracting a clientele that values both luxury and well-being.Conclusion: Embracing Change in South FloridaThe movements in both culinary and business sectors illustrate a dynamic shift in South Florida's real estate landscape. For Florida homeowners, these developments not only enhance community offerings but also increase property values as the demand for premium experiences fuels real estate growth. Stay informed and embrace the changes shaping your community.

What's New in Florida: Transwestern Moves and Chef Openings Highlight Growth

Transwestern's Strategic Relocation to Coral Gables

Exciting Culinary Ventures from Celebrity Chefs

Thriving Arts District Welcomes New Tenants

Sixty Vines: A New Culinary Experience

The Rise of Wellness and Fitness Ventures

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