Sunny Isles Beach in Miami-Dade County fast becoming the
epicenter of South Florida’s condo boom, the Miami Herald reported. Six condo
towers are currently being developed in the area, which represents
approximately 15 percent of the more than 45 towers proposed through July 2012
in South Florida’s tri-county region. Another 530 luxury units will be built on
nearly 40 blocks along Collins Avenue, and more are expected to come.
Developers
have purchased an additional four condo sites in Sunny Isles Beach, containing more than 580 units, all of which have been approved for
residential towers. Investment group has
recently purchased the loan for a partially completed condo tower that has been
approved to contain 134 condo units and 140 hotel rooms. If this pace of
development continues, Sunny Isles Beach could see its total number of condos
increase by more than 1,200 units.
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