Just who is Miami's largest builder?
The growth of Miami has been a collaborative effort by several different builders. In this category are firms such as Terra Group, Butters Group, Swire Properties, and Civic Construction, among others. However, if you had to ask, one Miami builder stands out the most; who would you say it is?
Terra Group, a real estate development firm, was established in Miami in 2001. It has participated in numerous notable initiatives in the South Florida area. The company's portfolio includes approximately five million square feet of real estate.
Doral and Miami Beach are the only two areas where the corporation actively works on construction projects. The portfolio also includes real estate in Broward and Miami-Dade counties. The scope of the company's work consists of both commercial and high-end residential construction. The company's mission is to develop communities and associated infrastructure driven by design that provides for the needs of its residents. It combines eco-friendly features with convenient transit and clean power sources.
The current real estate boom in Brickell, a neighborhood of Miami, has resulted in unparalleled growth in the area. Over 92,000 people currently make their homes in this fast-expanding city. Many banks and other financial institutions have set up shops there recently. As a result, builders have made improvements to the area's dwellings.
The Brickell Flatiron condo building is one of the newest additions to the area. When completed, the skyscraper will stand as America's highest private residence. The Brickell Financial District is where you'll find it.
The Related Group, established in 1979 by Jorge Perez, is now among the biggest privately held real estate enterprises in the United States. Including residential communities, commercial assets, and luxury high-rise condos, the firm's portfolio of development projects is valued at over $40 billion.
Even though the Related Group is most well-known for its high-end condo developments in Florida, they also have extensive experience in the rental sector and are committed to providing affordable housing. Over 50,000 of its rental units are located in Miami-Dade County alone, while the company has constructed and managed over 100,000 throughout Florida.
The Related Group and Integra Investments have just begun selling units in the second tower of the opulent new complex, The St. Regis Residences, Miami. The company also aims to construct a high-end business center on Terminal Island.
Swire Properties Inc., established in 1979, has grown to become one of the most prominent international developers in the Miami area. Over more than four decades, the firm has established itself in Miami, becoming famous for its master-planned construction of Brickell Key.
Swire's newest venture in Miami is the transformation of a parcel once occupied by shops. Prospective purchasers will be drawn to the development because of its closeness to Brickell City Centre. Additionally, the project has a vital sustainability feature.
The growth of Brickell City Centre has been pushed forward by Swire Properties for some time now. The location may be found in Brickell, a region of Greater Downtown Miami that has seen tremendous growth in recent years. The offering comprises high-end apartment buildings, retail, restaurant, and amusement venues.
Butters Construction & Development has created approximately $1 billion in projects over the last 32 years. The firm throughout Florida has constructed over 18 million square feet of commercial and industrial space. It has worked on manufacturing facilities, office buildings, shopping centers, and hotels. The counties of Miami-Dade and Broward are both served by its offices.
Butters has been named "Developer of the Year" by the NAIOP five times, among his many other accolades. Moreover, the South Florida Business Journal has recognized the firm with a Diamond Award. In addition, Florida International University's Entrepreneur Hall of Fame has recognized the firm for its achievements.
Civic Construction is the biggest of Miami's real estate development firms. The firm has collaborated on two significant Miami Beach developments with builders, including Mast Capital and AEW Capital Management. The business is also developing a hotel with 45 floors and 520 rooms in Brickell.
Both 1 Southside Park and Waterline Miami River phase II are under construction by Civic Construction in Miami Beach. They are also constructing high-end apartments in Coral Gables.
830 Brickell is the first Class A office skyscraper built in Miami's Financial District over a decade, and the business is responsible for its construction. The renowned architectural company Adrian Smith + Gordon Gill, who also created the Burj Khalifa in Dubai, is responsible for the design of this structure.
Creating multifamily housing in Miami is a bold venture. While there are now over 7,000 units on the rental market, prices have been reasonably stable. This is probably due to a decrease in market-rate multifamily lending from several central national banks. However, more dwellings might be added to the market if builders successfully meet their pre-sale targets.
The Atala, a worker housing complex for people of varying socioeconomic levels, will rise on 6.32 city-owned acres in North Miami. There will be an increase of 134 jobs in the economy in the first year. In addition, the project will bring in $172,900 in tax income to the city of North Miami in its first year.
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