A large
Miami condo project, the 1390 Brickell Bay condominium tower, which was planned to go up near Miami's posh Brickell
Avenue,
has been
scrapped. The 49-story, 364-unit development was 90% sold out but due to labor shortages, increasing building costs
and the after effects of a brutal hurricane season, the developer will be returning buyer deposits. Like
Las Vegas, Miami is an
area that is seeing more and more luxury condo projects being announced and less that are actually being built. Given
the slowly stalling real estate market this may be the beginning of a larger fall out of upcoming condo projects.
That's An Interesting Look, Madge
The List #0147: Escape a Car Underwater
16 Pasta Dishes Worse Than Yours
Visit the Maldive Islands Before It's Too Late
Reptiles Make Home in UK Man's Cable Box
Charlie Sheen Gets Back To His Roots
Springtime Budget-Busters -- Savings Experiment
Distraught Mom Becomes Face of Oklahoma Storm
WHOOPS! Obama Makes Big Gaffe
Is This Woman Too Pretty To Work?
Mariah Carey Suffers Wardrobe Malfunction on Good Morning America
Candid Portraits Of Strippers After Hours
The Story Behind Hairspray
Carrie Underwood Donates $1 Million to Oklahoma Tornado Victims
Mariah Carey Curses And Busts Out Of Dress On Live TV
Amanda Bynes Arrested, Undergoes Psychiatric Evaluation--See the Shocking Mugshot!
Ryan Gosling Almost Didn't Star In His Signature Movie
Teens' Plot To Murder Classmate Shocks Town
AMAZING PHOTO: UFO Spotted Over San Diego
Abercrombie Announces Plummeting Sales Amid Controversy
Killed Soldier In London Attack Identified
What It's Like To Talk To A 2-Year-Old
Luke Wilson Caught Staring At Fan's Chest
Rapper Accused Of Faking His Own Death To Escape Payments
Danny Tanner Is Fighting With Topanga
New Trayvon Martin Evidence Features Incriminating Photos, Texts From Teen
Teenager's 'Awww'-Inspiring Drawing Wins Big At Google
Brave Woman Stood Down Armed London Attackers
Jury Foreman: '18 Days Of Testimony Hurt' Jodi Arias
Best Friends Reportedly Die Holding Each Other In Tornado
Jodi Arias Jury DEADLOCKED
Mum-Of-Two Faces Down Woolwich Attack Suspects
Reader Comments (Page 1 of 1)
Finished.Law.School Feb 18th 2006 5:12PM
Didn't Las Vegas have a sales issue?
From your post it does not sound like Miami is having a sales issue which would negate the drop that you are implying. Theoretically at least.
Hemley Gonzalez, CEO, AffordableCondos.com Mar 2nd 2006 4:43AM
Unfortunately, even more projects will be nixed over the next few months. As mentioned here, the rising cost of construction and a terrible hurricane season are to blame; but so are the rise of interest rates and poor planning on the developer's side.
The market for affordable condos, now becomes relevant and a key factor for Miami and the beaches, as we head into a Buyer's market.