By Jim Adair

When REM attended the 1993 National Association of Realtors convention in Miami Beach, everyone said we were crazy to go. Miami and all of South Florida was still recovering from Hurricane Andrew, which in 1992 devastated the area. Miami was also in the grip of a much-publicised crime wave against tourists, including the murder of two Canadians in separate incidents.

Miami was known for the violence surrounding drug smuggling activities, made famous by the television show Miami Vice and the movie Scarface.

We went to the conference anyway and stayed at Hollywood Beach, popular then and now with Canadians, particularly those from Quebec. We stayed away from downtown Miami and heeded the advice of those said it was a bad place to visit.

Earlier this year we returned to Miami for the first time since that trip, and the city had a completely different feeling.  A real estate renaissance, fuelled by mostly by South American and Canadian buyers, has transformed downtown Miami into a series of vibrant, lived-in communities. While downtown used to be deserted at night and on weekends, new condo developments have been built alongside mixed-use retail and office developments. There are still neighbourhoods where you wouldn’t walk alone at night, but Miami has lost its reputation as the most dangerous city in America.

Since 2002, Art Basel Miami Beach has drawn thousands of artists and art collectors from around the world every winter. The Wynwood neighbourhood is full of art galleries and large graffiti works that must be seen to be appreciated. Nearby, the Miami Design District is booming with furniture and design studios.

Between 2001 and 2011, despite the U.S. real estate disaster,  total building square feet in downtown Miami increased by 56 per cent, averaging 4.2 per cent growth per year. The downtown population increased by more than 26,000 people for a 68-per-cent gain.

Cranespotters.com, an interactive website devoted to preconstruction condos, was launched last year in association with the Miami Association of Realtors. The site says there are currently 253 condo towers in the planning stages, under construction or recently completed in the South Florida region of Miami-Dade, Broward and Palm Beach.

A recent Miami Herald story says during the last two years, Miami land and construction prices have soared. It says a typical project in the downtown Brickell area that was $400 per sq. ft. in 2012 is now selling for more than $600 per sq. ft.

REM’s real estate tour of Miami and area, sponsored by public relations firm 3A Worldwide, took in a variety of projects, ranging from the latest offering on Hollywood Beach to a multi-million dollar condo on Miami Beach, and from funky rental lofts in Wynwood to luxury single-family homes in an exclusive private resort in the Florida Keys. Everywhere we went, the developers said Canadians are among their primary group of buyers, and they are eager to work with Canadian sales reps.

Costa Hollywood, now under construction on Hollywood Beach, is being developed by Canadian Moses Bensusan, CEO of Liberty Grand, LLC. It features 307 units that come fully finished, including studio and one- and two- bedroom units ranging from 369 to 1,232 sq. ft. with terraces and views of the ocean. The project consists of two six-storey buildings and includes a rooftop infinity pool, courtyard, entertainment lounge area and on-site spa and gym. It’s steps from the popular Hollywood Beach boardwalk, stores and restaurants. A high-end retail district is also being planned.

Other amenities include 24-hour concierge, room and security services, a business centre and housekeeping once a week.

Prices range from about $325,000 (US) for the 369-sq.-ft. unit to $735,000 for a two-bedroom unit. Occupancy is set for spring 2015. www.costahollywood.com

H3 is a little bit inland in the City of Hollywood. Billed as the first residential development to be built in Hollywood since the recession, H3 has 15 floors of studios, one-, two- and three-bedroom residences. It’s 10 minutes south of the Fort Lauderdale-Hollywood International Airport and 30 minutes north of Miami International Airport.

Prices range from $200,000 to $400,000. Amenities include a fully landscaped pool, a fitness centre, a security system, a 24-hour concierge, a business centre and covered parking. The common areas and elevator atriums on each floor will showcase a collection of original artwork created by a variety of local artists. www.h3condo.com.

In Miami Beach, for those investors who are looking for hotel-condo opportunities, the Mondrian South Beach Hotel Residences offer a brilliant setting on the waterfront of Biscayne Bay. The building, which was constructed in 2006, was recently renovated.

Units in the 16-storey tower have been redesigned to offer a new take on designer Marcel Wanders’ post-minimalist esthetic, say the owners. Fully furnished studio, one- and two-bedroom apartments and penthouses are available, ranging from 535 to 1,190 sq. ft. Prices range from $340,000 for a studio with no balcony to $833,000 for a two-bedroom, two-bath unit with a balcony and a view of Biscayne Bay.

Residents have access to Mondrian South Beach hotel, which was conceived by Wanders as homage to Sleeping Beauty’s castle. The indoor lobby is decorated with oversized furniture and motifs inspired by fairy tales. Public areas include a five-star restaurant, Agua, a 4,000-sq.-ft. spa with wet and dry treatment rooms, and a fully equipped gym overlooking Biscayne Bay. Outdoor living areas include a cabana-lined swimming pool surrounded by gardens, landscaped into a labyrinthine trail with lounge areas, secret pathways and “kissing corners.” There’s also a private marina. www.mondrianresidences.com

Next, REM visited the spectacular new ultra-luxury Regalia on Miami Beach. Now nearing completion and 85 per cent sold out, the 46-storey tower features just one residence per floor, each with 5,515 sq.ft. of interior space and a 2,100-sq.-ft. balcony that wraps around the entire building.

With its unique curved balconies, the building is reminiscent of the award-winning Absolute towers in Mississauga. Developer Louis Montello was the first to build in the area following the recession and the first to start construction without having pre-sold the project after he took it over from another developer.

He says he was convinced that by offering the absolute top-end location, building materials and finishes, the building would sell out quickly – and it has. All that remains are two furnished model suites, priced between $10 million and $12 million.

There is also a unique two-storey beach house that offers 9,915 sq.ft. of space on the third and fourth floors – including eight bedrooms and 9.5 bathrooms – and 6,500 sq.ft. of terrace with a private plunge pool, whirlpool and personal spa. It’s available for $27 million.

Each residence features 10-foot floor-to-ceiling impact resistant glass windows and sliders. There are large great room, family room, dining room and breakfast areas.

The kitchen cabinets were designed and manufactured in Italy and exotic stone countertops were installed along with top-end appliances. There’s a summer kitchen barbecue opening to the terrace outside.

The large master suite overlooks the ocean and beach and includes a morning breakfast bar with an undercounter refrigerator and sink. His and hers showers have doors that open directly on to the terrace.

Montello says most of the buyers are using the units as second and third homes. www.regaliamiami.com

 

Canvas Miami, to begin construction this year, will be a 37-storey luxury mixed-use residential and commercial high-rise.  It’s in the Arts & Entertainment District of the city, between Midtown, South Beach, Wynwood, Brickell and the Design District. Public transit is not a strength of the Miami area, but Canvas will be walking distance from Miami’s Metro Mover, a free 4.4-mile elevated “people mover”.

There will be 513 residences and 10,000 sq. ft. of commercial space. Residential layouts include studio, one- and two-bedroom floor plans with city and waterfront views.

In keeping with the artsy and upcoming area, amenities will include a fully equipped sound room for musicians. There will also be racquetball and bocce courts, a rooftop plunge pool, a gym and spa and a dog-walking area.

Preconstruction prices begin in the low $200,000 for studios, with apartments starting at $300,000 for a  one bedroom and $400,000 for a two-bedroom unit.  www.canvascondos.com

 

Developer N.R. Investments also recently completed the Filling Station Lofts on the site next door. Originally launched by another developer as a condo, the project ran into financial trouble and remained unfinished until NR Investments took over. It has now been converted into a rental building. All 81 units have been rented at about $2.50 per sq. ft. (the average size is 1,100 sq. ft.) and there is a waiting list of more than 120 people.

The industrial-style lofts feature 18-foot ceilings, spectacular views of downtown and concrete walls complemented by high-end finishes.  www.fillingstationlofts.com

Biscayne Beach is billed as “the first luxury condominium to bring a private beach club to Miami’s urban core”. Interior designer Thom Filicia, known for his role on show Queer Eye for the Straight Guy, created the “beach chic” designs for the project’s common area amenity spaces and members-only Beach Club.

The tower will have 399 residences, rising 51 storeys along the bay in Miami’s East Edgewater neighbourhood. Completion is scheduled for 2016.

The design concepts for the building’s resort-style interior and exterior living spaces  includes a mix of fresh patterns, grey woods, travertine stone, bronze metallics, textured walls, artistic lighting and dynamic furniture pieces, says the developer.  One-, two- and three-bedroom condos are available, including six two-storey upper penthouses with private rooftop pools and garden terraces. All units will be fitted with premium fixtures, finishes and appliances, 10-foot ceilings, floor-to-ceiling impact resistant glass windows and sliding doors, and unobstructed city and bay views. Prices range from the mid-$400,000s to several million dollars for the penthouses. www.biscaynebeachresidences.com

Finally, REM’s genial driver Armando Angulo drove us to a completely different kind of experience – a private resort community at the northern tip of Key Largo, about 50 miles southeast of Miami International Airport.

Founded in 1948 as a small fishing camp, Ocean Reef Club is now a lifestyle community with water on three sides. It’s about four miles long and a mile wide. Access to the area is only granted to residents and guests.

Cassia Villas at Ocean Reef Club offers 17 custom homes ranging from 17,000 sq. ft. to 23,000 sq. ft. Membership to Ocean Reef Club included with the purchase of a Cassia Villa property gives  residents access to first-class amenities such as 36 holes of golf, a salon and spa, more than a dozen restaurants, a 175-slip marina and a private airport.

The community also includes its own shopping area, a man-made beach, a movie theatre and a public library. Most vehicle traffic in the community is restricted to golf carts.

The self-sufficient community also has a healthcare centre, police and fire stations, a post office and a gas station.

Prices range from $2.6 million to $3.5 million for the 3,900 sq. ft. to 6,000 sq.ft. homes, which include six five or six bedrooms and 5½ to 7½ baths. All the furniture in the model home can also be purchased for an additional $500,000.

All interior areas include 18×18-inch polished travertine marble. Countertops in the kitchens and baths are granite and quartz. High-end finishes and appliances are used throughout.

President Barack Obama recently was a guess at the resort for a round a golf. www.cassiavillas.com