Monthly Archives: January 2007
Anti-Manny Diaz Protestors Call Him a Rat
According to some, City of Miami Mayor Manny Diaz is a rat. Apparently one of the definitions of a rat is a person who “throws people out of their homes”. This is according to members of The Laborers Union who accuse him of doing just that and actually displayed a twenty foot inflated rat at the recent UC Conference of Mayors in Washington D.C. Clearly this has to do with the issue of gentrification. Continue reading
Filed under BoB Articles
What’s up with Gentrification?
I find it interesting that there is an effort to address the issue of gentrification in Miami’s urban neighborhoods. The most interesting source of information regarding this movement is found at takebacktheland.blogspot.com. Continue reading
Filed under BoB Articles, Gentrification
Super Bowl Frenzy
With the Super Bowl coming to town, Miami will be in the spotlight. More important than the attention of the 90 million viewers in America alone that the Super Bowl will generate is the $300 million or so in revenue that Miami is expected to generate as the host city. There can be no scientific study on the matter, but many of tens of thousands of visitors from the Midwest will be visiting Miami for the first time and may become enamored with the city to the extent of being a potential second or third home buyer in Miami’s real estate, particularly condo, market. Look for developers to try to capitalize with extra outdoor ads and ads in tourist saturated areas. As Miami puts its best foot forward, anti-gentrification activists will be mobilizing throughout the entire Super Bowl week. Continue reading
Filed under BoB Articles, News
State of Florida House Bill 1089 Gives Developers Advantages
It is important to note that when a project is initiated as a rental/apartment complex and the developer, somewhere along the way, decides to make the project a condominium, then House Bill 1089 gives them certain, arguably inequitable advantages, at … Continue reading
Filed under BoB Articles
News Tid Bits
Miami puts on game face for Super Bowl as thousands of Indianapolis Colts and Bears fans are slated toinvade the tropical city. International Development and Miami In consideration of Panama City’s bid for the FTAA Secretariat, it is important to … Continue reading
Filed under News
Insurance Crisis for Florida Condos
There is a crisis in Florida when it comes to insurance and condominiums. If you are buying a condominium, you are required by State Law F.S. 718.111(11)(c) to have insurance in your unit. This is not optional. If you live in a single family home and choose to have flood insurance but not windstorm, then that’s fine, but in a condominium, it doesn’t work that way. In fact, not only is the unit owner required to have insurance, but so is the entire building, and therefore, the unit owner has to encumber a partial sum of that master policy for the building along with the full sum of their own. This does mean lower rates for the master because the premium is being split up among the other unit owners, but it is a factor that is important to note for all who have not lived in a condominium and are going to be soon. This is especially important when considering that insurance premiums, particularly with windstorm, are going up, on average, anywhere from 200% to 300%–the deductible often being at least 5% of the entire replacement cost of the building based upon a recent appraisal. This has brought the notion of self insurance to question. This idea, although tantalizing, is not exactly easy to pursue for condominium associations. So, I have included a report on self-insurance that I was fortunate enough to stumble upon at an excellent and free Becker and Poliakoff seminar. It was an impressive lecture by David H. Rogel J.D. This will help quell the misunderstandings that almost always seems to accompany this option. Continue reading
Filed under BoB Articles
Developer Profile: Jorge Perez (the Related Group)
Jorge Perez is the quintessential hotshot developer. He’s not just educated in Urban Planning and Development, but in fact, graduated Suma Cum Laude and attained his Masters degree in the discipline. It should be rather clear to most that Mr. Perez is the foremost developer in Florida and arguably one of the most preeminent in the country. According to the Related Group’s official website, his firm is the largest Hispanic-owned business in the United States with a current portfolio of over $10.7 billion. The Jorge Perez effect, which has so drastically altered the Sunny Isles, South Beach, and Miami cityscape, was first set into motion in the late 1970’s with affordable housing projects throughout the county. Continue reading
Filed under Developers
Bob’s Back
I recently got back from a long and relaxing holiday hiatus. The kind that makes you want to ignore life and just chill in sublime laziness. But now I’m back and have to get back to business. Continue reading
Filed under BoB Articles
