Miami prepares for a $1.5B Worldcenter, and why women are the ones to watch in New York real estate
Jul 7, 2014
Here are the news stories you might have missed last week:
The Wall Street Journal: For New York real estate dynasties, daughters hold the future
Women are finally starting to take the reins in New York real estate. The industry glass ceiling is cracking in part due to family ties: daughters of several real estate dynasties are poised to take over the family business, with last names like Trump, Zucker, and Rudin. While barriers still exist, women in real estate are beginning to hold more power, from the board room to the construction site. To read more about this trend, click through to WSJ.com.
GlobeSt.com: Canadian investors like these property types best
The U.S. is the most popular market worldwide for foreign investors, but that doesn’t mean they all agree on which property types will have the biggest bang for their buck. Canadian investors are particularly hungry for U.S. real estate, and they’re buying everything from single family homes to hotels. But thanks to a strong rental market, one thing they can all agree on is that multifamily continues to be a solid investment. Find out more at GlobeSt.com.
CoStar.com: Developers submit plans for $1.5B Miami Worldcenter
A massive $1.5 billion project is promising to bring thousands of locals and tourists alike to northern Miami. Three developers filed plans this week for the Miami Worldcenter, a 10-block mixed-use project just north of the central business district. The plans include a 765,000-square-foot mall, set to open in late 2016, a pedestrian-only promenade with outdoor cafes, boutiques, and bars, and 1,000 residential units. Read more about the WorldCenter at CoStar.com.
The New York Times: Mayor drives the remaking of an Indiana City
In just 20 years, Carmel, Ind. has undergone a major downtown redevelopment and seen a population spike of 54,000 residents. Overseen by Mayor James Brainard, Carmel’s Arts and Design District has been transformed into a bustling, pedestrian-friendly retailing and dining neighborhood with 300 new residences and 900,000 square feet worth of renovation and new construction projects. The success of the Arts and Design District has caused developers to now turn their attention to City Center, the second downtown redevelopment district that comprises 80 acres of residential, retail, office, and entertainment spaces. Find out more at NYTimes.com.