South Florida's largest construction site is running on all cylinders — with two residential towers rising fast; more than 140,000 sq. ft. of retail space now under construction; and more than 800 workers active on the job site each day.
Miami Worldcenter, the $2 billion mixed-use development reshaping the center of Downtown Miami, is the second-largest urban development underway in the United States, totaling 27-acres spanning 10 city blocks.
Vertical construction of CMC Group's Brickell Flatiron, a 64-story luxury condominium tower now rising in downtown Miami's Brickell neighborhood, has reached the halfway mark as builders finish construction of the skyscraper's 32nd floor. With about one full-level expected to be completed every week going forward until top-off later this year, the 736-ft.-tall high-rise is slated to become one of the tallest residential towers in the United States upon its delivery in summer 2019.
Amazon announced Jan. 18 that it has chosen 20 potential locations for its new headquarters. In 2017, more than 230 cities stepped up to the plate with proposal packages including tax incentives and more to vie for the retail giant to choose them for its HQ2.
During the first half of 2017, eight of the top ten metropolitan markets for commercial and multifamily construction starts ranked by dollar volume registered decreased activity compared to a year ago, according to Dodge Data & Analytics. At the same time, metropolitan markets ranked 11 through 20 showed growth for nine of the ten markets, as smaller geographic areas are picking up the slack from the deceleration underway in those cities that have led the commercial and multifamily upturn over the past several years.