A lack of affordable housing in Florida draws attention from state lawmakers
Associated Industries of Florida’s Brewster Bevis says affordable housing is good for both business and the economy. “Investing in Florida’s affordable housing will go a long way towards fostering stability and economic prosperity in our state. In fact, if lawmakers fully fund the affordable housing program during fiscal year 2019-2020, we will create more than 30,000 Florida jobs and have a positive economic impact of more than 4 billion dollars in the state of Florida,” he says. [Source: WFSU]
Retail in South Florida: Experiential all the way
Owners of shopping centers have a choice: They can lease space to whomever shows up with a check in hand, putting a dollar store here and a fancy salon there. Or, they can think like Edens Vice President of Investments Nicole Shiman, who orchestrates an entire plaza as one harmonious whole. [Source: BisNow]
Market Watch 2019: Five highlights from the annual real estate extravaganza
The Oscars of Southwest Florida real estate were held at Hertz Arena last week. Area real estate experts Randy Thibaut, Denny Grimes and Stan Stouder, who have more than 100 years of experience in Southwest Florida combined, held court with a crowd of about 1,200 mostly real estate professionals, looking to better understand the trends of 2018 as they prepare for 2019 and beyond. [Source: Naples Daily News]
In real estate, culture, the arts and more, Miami’s global identity hasn’t yet caught up to its reality
Much of the world has a perception of Miami that’s not up-to-date and the many improvements to Miami’s cultural, arts and real estate scene in the past decade are not yet part of the city’s global identity, says real estate broker John Reza Parsiani, who is a member of the Master Brokers Forum and vice president of business development with Cervera Real Estate. [Source: Miami Herald]
Tampa Bay had nation’s fourth highest flipping rate in 2018
House flipping has waned a bit in the Tampa Bay area but still accounts for a significant percentage of all home sales. Last year, 8.2 percent of bay area home sales were flips, down 8 percent from 2017. But that was still above the national rate and fourth highest among the top 53 metro areas analyzed by the property tracker ATTOM Data Solutions. [Source: Tampa Bay Times]
STAT OF THE WEEK
Former Florida Gov. Jeb Bush and his wife, Columba, listed their 3,485-square-foot, four-bedroom home on Almeria Avenue for $1.8 million, according to Mansion Global. They paid $1.3 million for the home in 2011. [Source: The Real Deal]
› On tap in Tallahassee, real estate bills on vacation rentals, opportunity zones [Daily Business Review]
Florida lawmakers will consider making it cheaper for businesses to rent offices and putting more benefits in the opportunity zone law in the legislative session starting Tuesday. They’ll also try to change the law on vacation rentals booked through platforms such as Airbnb.
› Southwest Florida regional bank appoints new leader for commercial real estate loans [Business Observer]
Charlotte State Bank & Trust named 40-year banking veteran Todd Rinehart vice president of commercial real estate lending. Rinehart will be based in Cape Coral, where he is a resident. Rinehart began his banking career as a high school cooperative education student working part-time.
› More millennials own a home than rent in Port Saint Lucie [USA Today]
It’s not exactly a new observation that millennials haven’t been very aggressive when it comes to buying homes. Millennials may no longer be living with their parents, but home-ownership trends remain weak for people under 35 years old.
› Hallandale Beach morphs from shabby beach town to upscale resort destination [The Real Deal]
Hallandale Beach is shaking off its past as a shabby beach town amid a surge in real estate development. A longtime winter destination for Canadians, the oceanfront city of nearly 40,000 residents in southeastern Broward County also has started to attract European buyers of vacation homes.
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