Officially postponed: The public vote on a lease that would clear the path for a headquarter hotel next to the Miami Beach Convention Center.
At Wednesday’s Miami Beach city commission meeting, commissioners did not consider placing the item on the November ballot.
Developer Jack Portman, who wants to privately finance a $400 million, 800-room hotel that would rise up 30 stories on public land behind The Fillmore Miami Beach at the Jackie Gleason Theater, requested the delay.
south Florida’s housing market ranks as the most stable in the Sunshine State, according to a report Wednesday from mortgage company Freddie Mac.
The metro area of Palm Beach, Broward and Miami-Dade counties scored 82.4 in June on Freddie’s Multi-Indicator Market Index, up 14 percent from a year ago.
The index measures local and state housing markets by tracking home loan applications, affordability, mortgage loan delinquencies and employment. A score of at least 80 is considered favorable or stable. A perfect score is 100.
Developer Don Peebles is pulling out of an ultra-luxury condo project he had planned for an oceanfront property in Miami Beach.
Peebles has put the small lot at 6747 Collins Ave. on the market for an undisclosed price, a spokeswoman confirmed Tuesday. The original plan for the project, called the Bath Club Estates, was to build a 15-story tower with just 13 units, including a 9,000-square-foot penthouse marketed for $50 million.
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Rising home prices across South Florida are helping more owners escape “underwater” mortgages, a new report shows.
In the first quarter of 2015, 17.4 percent of all mortgaged homeowners in Palm Beach, Broward and Miami-Dade counties owed more than their properties were worth, down from 24.9 percent a year earlier, according to real estate website Zillow.com.
The so-called negative-equity rate has declined in the tri-county region on an annual basis in every quarter since early 2012.
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