Related Group Breaking Ground On 1,380 Units In Four Towers Tomorrow

·18 Comments

Related Group will host a groundbreaking party for 1,380 units tomorrow, in four Arquitectonica-designed towers: the twin Brickell Heights towers, and twin Paraiso Bay towers.

At the same time, the developer will hand out commission checks to brokers.

Later in the day, a launch party for the 396-unit Paraiso Bayviews will be held.

 

 

 

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anonymous
7 years ago

Let the money laundering continue…

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marc
7 years ago

Fine by me.

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Grato
7 years ago

You must be jealous you are not one of the launderers…
hahahahahahahaha
Let the building continue!!!!

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gregory
7 years ago

Can you get out from underneath your rock, these units are actually have mostly full time residents.

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Anonymous
7 years ago

I’m not the poster, but who believes that most of the original buyers will live in these full time…. And by most I mean 60%+

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gregory
7 years ago

Well if you actually go to brickell you will notice there’s actually plenty of people who live there and plenty of lights at night. But if you want, you could continue to live in your 1990s mindset that most condos are bought with laundered money.

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anonymous
7 years ago

Owner occupied? Or renter occupied?

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Anonymous
7 years ago

Does it matter? Miami is a city that has lots of transitional people who rent. But Brickell is far from being a ghost town. Anonymous where do you live; Kendall?

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anonymous
7 years ago

Isnt the important thing that they ARE occupied? Brickell has become an amazing community where people live work and play, even more so once Citicenter comes to life. Because of our banking system only cash buyers can own so its great that they give everyone else a chance to live in these fabulous buildings even if they are renting.

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Bb
7 years ago

Does it matter? Miami is a city that has lots of transitional people who rent. But Brickell is far from being a ghost town. Anonymous where do you live; Kendall?

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anonymous
7 years ago

I think it *does* matter that the vast majority of units are bought by people with ZERO intention of ever living in them.

Are these being built for living or for a store of value/wealth?

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anonymous
7 years ago

There are many Miami-haters out there who are obsessed with trying to find any excuse to negate the unusual success of Miami, if only people will believe them. They often live nowhere near Miami and are jealous of its unique success. The money laundering era has passed, this is not the 1980s anymore. Much of the investment cash comes from “flight capital” from Latin America. Wealthy South Americans view Miami as a safe haven to park their investment cash, so the buildings keep getting built by developers eager for profits, the buyers keep plunking down their investment cash and then they rent to mostly young professional types. It is the latter group that is re-energizing and even creating the New Miami.

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Andrew
7 years ago

Agreed. A lot of people who actually want to live in urban core condos and need standard bank financing in order to buy aren’t able to because of current tight lending practices and “banned” buildings, so being able to rent at these buildings is often the only way to live in this area of the city.

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anonymous
7 years ago

I’m not a hater, I just want to point out and have debate about the fact that the majority of these buildings are being sold to foreign/out of town investors whom are buying these as an investment, not as a place to live.

As others have pointed out, it’s difficult to buy these buildings if require financing.

It’s also a shame that there is clearly a demand for rental units yet developers do not seem interested in building apartment buildings.

For the record I live and own on the beach.

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gregory
7 years ago

Of course the stuck up Miami Beach folks who look down upon Miami no matter what.

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leon
7 years ago

So you live in Miami BEACH, how do these buildings effect you?

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Grato
7 years ago

It’s affect, Leon

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Grato
7 years ago

But I do agree with you.

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