Under Utilization in the CBD (INTRO)
Image: Under utilized buildings near the BOA tower are highlighted.
The Purpose
Boom or Bust focuses much of its efforts on tracking the new construction that has consumed Miami. But, what about the older, neglected, and under-utilized properties in the Central Business District? No one seems to care about them unless they’re being demolished to accommodate a new tower or revamped in grand style, yet knowing the level and forms of under-utilization is vital in helping to understand the development challenges facing Downtown. This week’s aim is to demystify under-utilization in the urban core by answering these fundamental questions:
- What constitutes an under utilized building?
- What current uses are derelict buildings lending themselves to?
- What are the use alternatives?
- What is the effect of under-utilization in the CBD?
- What role do these buildings play in shaping the social and economic environment of the CBD?
- What is the current proportion between vacant land, new construction, and under utilized properties?
- What are the under-utilized structure age patterns?
- How many of them have restoration potential?
These are just some of the questions that are to be addressed this week as we delve into the nitty gritty of the matter. I have developed a color coded chronological development map to assist in the study.
Image: Portion of the Chronological Development Map. The color codes will be explained in the 2nd installment.
The chronological map, which will be explained later, will be used to illustrate when certain areas of the CBD were built out. In the end, the Central Business District’s historic nature, restoration potential, and level and effects of under utilization will be addressed and tied into surrounding new construction trends and Miami 21 zoning.
(To be Continued)
Continue Reading Add comment June 25, 2007
local parking lot magnate Hank Sopher. Until 2005, Leviev and Boymelgreen had been the undisputed landlords of Parkwest. In 2005, Daniel Kodsi acquired several significant parcels in the neighborhood. This pattern is important to see because it indicates that these two separate entities are likely to be the most active in changing the area and capitalizing off of its progress. It also indicates that these developers consider the area to be a high priority on their land portfolio. The entire west side of N.E. 2nd Avenue from 11th street till 7th street is owned by either Leviev/Boymelgreen or
Daniel Kodsi. For all intensive purposes they are the landlords of what is fast becoming one of Miami’s most important urban neighborhoods. In studying land acquisitions, one will find that Parkwest is where Leviev/Boymelgreen has the biggest cluster of parcels. Considering their extensive financial resources, development experience, and ambitious current plans, one can almost count on them transforming Parkwest to the point of being unrecognizable. Kodsi’s presence in the neighborhood implies that his Paramount Park project was more of a bridgehead in the area, while these later acquisitions are a sort of invasion into the heart of Parkwest. He will have room for at least two more major developments on parcels located
on the west side of N.E. 2nd avenue on 9th and 10th streets—behind 10 Museum Park and 900 Biscayne respectively. Leviev’s plans for Marquis West on their N.E. 2nd avenue and 11th street lot indicate that their future projects will be similarly dense. Although high density is a safe guess, it’s not clear what Daniel Kodsi will do with his parcels to the south of the Marquis West. Considering all of his Paramount projects, he is likely to think and act big. Under the surface, Parkwest is rumbling with activity. Look for these development juggernauts to steamroll forward with big plans for Parkwest soon.
