City of Miami Public Hearing: Small Building Parking Exemption

Will our City commissioners finally come to their senses and realize we cannot evolve into a world-class city if we continue to require developers to adhere to minimum parking requirements that decrease affordability and perpetuate automobile use?

This discussion is long overdue, but finally the City Commission has agreed to conduct a public hearing on this issue on Thursday, October 23rd, 11:30 am at the City of Miami City Hall, 3500 Pan American Drive, Miami, FL 33131.

Below is a link to sign the petition and pledge to speak at the Commission meeting. Also if you sign up through this site, you will be sent updates, post your comments and see articles about this issue.

https://www.causes.com/campaigns/84406-exempt-miami-small-buildings-from-required-parking

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Here’s a little more background at to why you should support the elimination of minimum parking requirements.

Screen Shot 2014-04-29 at 10.38.42 AMMinimum parking requirements are killing good urban development in Miami. Luckily, there has been a push to eliminate parking requirements for small urban buildings (<10,000 sq ft) in recent months.  This is a good first step in the right direction if Miami really aspires to become a walkable and less autocentric city.

Minimum parking requirements perpetuate more automobile use and it also makes housing less affordable since the cost of building and maintaining required parking is passed on to renters and buyers. A few months ago Zillow released a housing report  that cited Miami as the 2nd most expensive city for renters.  The average Miami resident spends 43.2% of their income on rent.

Combine expensive housing with lack of public transit and minimum parking requirements that only serve to perpetuate the use of the automobile; its no wonder why Miami is one of the most expensive car dominated cities in the US.

Eliminating parking requirements would do the following things:

  • Allows small developers to choose how many parking spaces are needed based on what fits and what buyers or tenants want.
  • Replaces parking with denser development that generates more property and sales tax for the county and city.
  • Allows small property owners to keep their property and develop themselves.
  • Levels the playing field for small Miami property owners.
  • Allows for the creation of more walkable and denser urban neighborhoods.
  • Provides greater opportunity to build additional homes within proximity to mass transit corridors – which works to reduces auto traffic on congested roadways.
  • Works toward retaining housing affordability, by allowing previously undevelopable lots – or lots with limtied development potential – to be built upon,  to meet the future housing needs of all residents.

Below are the details for the reduced parking requirements that are being sought for small urban buildings.  This is currently being advocated for at the commission level, so stay tuned for the resolution.

The proposed text for T4, T5, and T6 is underlined below.  The non-underlined text already exists in Miami 21, a TOD/transit corridor parking reduction that does not apply within 500 ft of single-family/duplex areas (T3).  The proposed text does not change that, it does not apply within 500 feet of T3.  Below is a map of where the proposed text would apply: orange areas around rail stations, purple areas along transit corridors, but not yellow areas within 500 ft of T3.  

“Parking ratio may be reduced within 1/2 mile radius of TOD or within 1/4 mile radius of a Transit Corridor by thirty percent (30%) by process of Waiver, or by one hundred percent (100%) for any Structure that has a Floor Area of ten thousand (10,000) square feet or less, except when site is within 500 feet of T3.”

Let’s hope City of Miami Commissioners can come to their senses and eliminate parking requirements entirely, not just for small urban buildings.

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ULI Young Leaders Networking Event @ the PAMM

Join the Miami Young Leaders Group for a special networking event at the Pérez Art Museum Miami in conjunction with PAMM Presents – a program focused on experimental sounds and diverse cross-genre music. Enjoy live outdoor music from internationally-acclaimed artists and drink specials while networking with your peers! More information on the PAMM Presents series can be found  here.
This event will be first come, first serve with 50 free tickets handed out at the door (emails do not qualify as first come and no registration through ULI is required) – so be sure to come early! Once the 50 tickets are handed out, attendee’s may buy a ticket through the Museum for $12.

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13th Floor Investments and Key International Launch Condo Tower in North Miami Beach

The Harbour Lobby

Real estate investment and development firms Key International and 13th Floor Investments are launching another luxury condo. The Harbour will be a 330-residence condo in North Miami Beach.

According to the press release

Located at 16385 Biscayne Boulevard, The Harbour’s two 26-story towers and accompanying amenity facilities encompass a generous 4.5 acres plus marina (pending approval). Each one of The Harbour’s 1- 2- and 3-bedroom units and extraordinary penthouses has been expertly and thoughtfully designed to provide a complete luxury lifestyle in a private oasis atmosphere – and at prices never before seen for residences of this caliber. All units feature open-concept floor plans, private elevators, expansive private balconies, smart-home ready technology and stunning direct water views of Biscayne Bay Aquatic Preserve and gorgeous city skylines. Residences will range from 1,032 to 2,442 square feet with median prices starting from the $500,000’s.”

Key International Sales is the exclusive brokerage of record for the Harbour and Ivan Ramirez has been named Director of Sales. Sales will officially begin this November.

For additional information or to request a preview presentation of The Harbour with one of Key International Sales’ luxury home specialists, please visit one of two Sales Center locations at Mint, 92 SW 3rd St. in Miami or17100 Collins Ave., Suite 214 in Sunny Isles Beach, or call 305.377.1025.

Transit Oriented Development- Condo to be Built Adjacent to All Aboard Florida’s Downtown Miami Train Station

Krystal Tower exterior_lr

With the All Aboard Florida train station breaking ground soon in downtown Miami, developers are already positioning themselves to seize the transit oriented development opportunity that All Aboard Florida will bestow on South Floridians. Brazilian real estate developer Rodolfo Ishak is launching a new 35-story, 153-residence condominium known as Krystal Tower in downtown Miami. Located at 530 NW 1st Court.

According to the developer

A collection of 1-bedroom, 1 plus den and 2-bedroom residences averaging 907, 1,050 and 1,330 square feet respectively will be offered from the $200,000’s. Residence features include beautiful finished units with porcelain tile floors, designer European kitchen and bathrooms, stainless steel appliances, floor-to-ceiling windows and stunning views of Biscayne Bay and gorgeous city skylines.

Building amenities will include a 3,900-square-foot rooftop pool deck, state-of-the-art fitness center, theater, club room and resident lounge, children’s playroom, yoga studio, bicycle storage and private storage lockers for each unit. Additional perks include valet service, 24-hour concierge and on-site security, plus 5,500 square feet of convenient ground floor retail.

Krystal Tower is conveniently situated adjacent to All Aboard Florida’s proposed Grand Central Station and is mere blocks from Miami Worldcenter’s world-class retail, hotel and convention space, as well as important cultural and entertainment destinations such as Museum Park, the Adrienne Arsht Center for the Performing Arts, Bayfront Park and Amphitheater and American Airlines Arena, among others. One of the best-connected addresses in Miami, Krystal Tower is easily accessible at the junction of Interstate 95 and Interstate 395 and just minutes from the Port of Miami and Miami International Airport. Construction is slated to begin this winter and is scheduled for completion summer 2016.”

Hopefully the developer with change the name of the building before breaking ground. Kyrstal Tower? Really?

The Krystal Tower sales center is located at 28 West Flagler Street, Suite 330 in downtown Miami and will open November 1. For additional information or to request a preview presentation with a member of the sales team, please contact or call 305-579-2121. You can also connect with Krystal Tower on social media at facebook.com/krystaltowermiami and on Twitter @KrystalTowerMia.

Real Estate Technology: Property Pool- Real Estate Investing Through Crowdfunding

Property Pool

Friend of Miami Urbanist Daniel Sultan, co- founder of Property Pool, just launched the beta website for his new company. Property Pool couples real estate investing with an advanced online platform to give investors the opportunity to own professionally managed, single and multi family rental properties across the United State. Property Pool partnered withBuildUSBack (BUSB), one of the country’s longest operator and investor in single and multi family housing.  Property Pool will be run by the BUSB, which has transacted on over 3,000 properties over the last 10 years.

From the Property Pool website:
We believe that the power of the internet, coupled with technological advance, is democratizing the finance world, giving individual investors more control over their investments every day while enabling them to operate as efficiently as professionals do.
Crowdfunding will disrupt the capital formation industry. We aim to become the go-to Single Family Rental platform for investors around the world, by efficiently managing the entire investment process, collaborating with our investors and achieving expected financial returns.”

 

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