0
0
0

This Week in Miami Real Estate: Sinkholes, large-scale malls and more

by Lauren Clohessy

Miami-housing-stock-zillow-valuable-gains-2016-2015-affordability

Florida may have a sinkhole problem on its hands. According to Smithsonian.com, Florida has more sinkholes than any other state. A 2013 report by Clint Kromhout of the Florida Geological Survey found that areas in Northern Florida are more likely to see sinkholes than Southern Florida. This leaves both sellers and buyers worried. Recently, Sun Sentinel published a piece with commentary on the matter from a Miami-area real estate lawyer who discussed disclosure issues regarding sinkholes. According to Gary Singer, sellers are required to inform buyers about sinkholes if the seller is aware of the issue. If one in the area hasn’t happened, the seller cannot be held responsible.

In other Miami real estate news:

  • What would be the largest mall in the U.S. is coming to the Miami area. Forbes reported that the Miami-Dade County Commission approved zoning changes for the American Dream Miami. Ghermezian, who also constructed the Mall of America, will build on a 174-acre site. Similar to their other large-scale projects, American Dream Miami is expected to have extreme features like a water park, hotel and even indoor skiing.
  • A new Livability survey for the Top 10 Cities for STEM workers in 2018 ranked Miami Beach No. 10. According to the Miami Herald, the survey found that 13 percent of Miami Beach jobs are STEM related. “Science, math, engineering and technology are no longer the so-called careers of the future, they are relevant and fundamental to tackling the most pressing issues of today. As we continue to combat climate change and work toward progressing in other key areas, our commitment in supporting these valuable fields within our community is steadfast,” said Miami Beach Mayor Dan Gelber.
  • Downtown Miami residents are asking the city to stop hosting large scale events. Attorney Sam Dubbin is representing 11 residents in a case against Miami officials. The Miami Herald reported that Dubbin sent a letter to city hall, accusing the city of  violating noise ordinances when hosting events like Rolling Loud Festival and Ultra Music Festival. The letter asks the the City Commission and Bayfront Park Management to stop current negotiations for the Formula One Grand Prix and stop hosting other large events. If the city fails to act on the complaint, Dubbin’s next step is a lawsuit.

Read More Related to This Post

Join the conversation

New Subscribe

  • This field is for validation purposes and should be left unchanged.