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New Tallest in Florida

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Related Urbanplanet.org topic: [ ]

A bit off topic, but I thought that some people might not have heard yet. Check this out:

empireworldtowers4hl.jpg

One condo, one mixed-use, both 1,200-feet tall and 110-stories. Read more here.

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great news for Miami. Simple but nice. I hope it becomes a reality, they would finally be the towers that establish the Miami skyline on the world stage, not to mention all these other towers planned down there. Its truly amazing.

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^Nonsense. There are many buildings around the world built in more inhospitable conditions than Miami. About every major building in Florida has hundreds of auger-cast piles that support their foundations, drilled into the limestone below. The Four Seasons Hotel and Tower was the first Florida building to use caissons, the same type of supports that hold up the Sears Tower.

Further discussion on this building can be found in Empire World Towers discussion thread in the Miami/South Florida forum.

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<<< Waiting for the condo boom in Miami to go bust. I read somewhere that the construction of "tallest buildings" almost always immediately precedes a real estate depression.

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Also, where are all the buyers coming from for these condos in Miami? Considering that Miami has the lowest per capital income in the state of the major cities, it must be either real estate speculators or maybe people out of the country. Miami has had a condo bust before (in the 70s, as I recall) and it could happen again. We have not repealed the laws of gravity just because it is 2005.

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You're making a judgement based on per capita income by city, a line drawn in the sand? By no means is that an accurate way to compare statistics in Florida, especially when you consider how many millions of people in Florida live in unincorporated areas and non-core cities. You have to look at aggregates by county, census-designated place, census tracts, urbanized area, or metropolitan area to get an accurate picture. Even then you have to wonder how much income goes unreported.

Miami-Dade's real estate market is attracting buyers from everywhere: domestic suburbanites from Dade and Broward who are tired of commuting (who don't get counted in your city per capita rate, by the way, because they don't live in the city limits), people from other parts of the country looking for high quality of life and nice weather (and other attractive options), speculators (of course), and yes, foreigners, from all over the world, especially Latin America, the Caribbean, Europe, and even Asia. Natural growth could never account for the population increases we are experiencing. The weak dollar has done wonders for the market, making purchasing here much more attractive to foreigners. It has helped fuel purchases by Latin Americans, especially Venezuelans, Brazilians, Colombians, Chileans, Argentines, and even Mexicans of late who are seeking a primary or secondary home in a place with political stability. Miami is advertised everywhere; it is all over newspapers and other media in Latin America. One can't even begin to understand the magnitude of this. After Los Angeles and New York, Miami is the third most visited city in the country by international visitors. And it's not just Miami itself, for to the average person, Dade County is Miami and they are treated one and the same.

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Very intelligent post. I don't know why people are so negative about this. What is good for Miami is good for Florida, and that goes for any city in the state. Stop hating.

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Miami truly is an international city. I used to never think of it as a world class city, but I have a hunch that in the next 5-10 years, it will catch up with cities like NY, Chicago, and LA. It's really impressive, considering it's not even that old of a city.

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Miami, in the eyes of many who have never been there, is on a level playing field with those cities you named. But surely as Florida continues to grow Miami will see a rise in popularity and importance, or it could dry up too... who knows?! LOL!

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No disrespect to cities that feel they need 100+ story buildings to be world class... but I'd much rather have a shorter more impressive looking structure than a tall one that just towers over everything else? Given an opportunity, the developer needs to reconsider the design to include something architectually unique.

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Stop hating.

Just because I questioned the demand for all the condos currently being built in Miami and I think the proposed structures are ugly and dont fit into the skyline, I am "hating"? I dont recall saying anything negative about Miami. All I did was cite statistics and past real estate phenomenons. You can ignore them if you want, I just was posting my thoughts. Ultimately all that matters is the developers are going forward with the projects so there must be some demand and they must be making money. Relax..

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Yep, that's the one. Although it's just a theory. And the theory really didn't apply in the case of, say, Kuala Lumpur, after the Petronas Towers. Sure, there was a momentary lull in construction, but KL is still booming by most stamdards.

And where Miami is concerned, construction is not going to stop. Repeat *not* going to stop. Not with current population projections, and with the current trend in urban living.

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Yep, that's the one. Although it's just a theory. And the theory really didn't apply in the case of, say, Kuala Lumpur, after the Petronas Towers.  Sure, there was a momentary lull in construction, but KL is still booming by most stamdards.

And where Miami is concerned, construction is not going to stop. Repeat *not* going to stop. Not with current population projections, and with the current trend in urban living.

<{POST_SNAPBACK}>

sounds confident...

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Who ? Me ? Or the author of the half-baked theory Riverside referenced ? ;)

Seriously, do you expect development in Miami to stop ?

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Its encouraging to see Miami concentrate development in its downtown area, and emphasize urban infill, but whats concerning about Miami, as well as the rest of South Florida is the sprawling build anywhere attitude, now the Florida Everglades are in trouble!

Sooner or later, Miami will have to set an example for the growing cities in this state and show a balance in our growth and a greater respect for the envrionment, and ailing blighted areas of our cities. But surely no one expects Miami's development to stop.

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I never said that all construction would stop in Miami. That is absurd. All I said is there is clearly a condo building boom in Miami (which may or may not be driven by speculation and is clearly supported by cheap capital for construction) and that this may bust. I am sure that, following the bust, the construction would resume at some point. Ever heard of the business cycle??

As to the article which I referenced, it was written by someone who is actually schooled in economic theory (unlike you, I presume) and it has several pages of sources. It is not a half-baked theory. No one thought the stock market would ever again go down in 1999 either. I guess you still have your Enron stock.

P.S. I am still buying and investing in real estate in Jacksonville, so I am optimistic, but you have to at least consider the possibility of a downturn.

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