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The
essence of Aventura can perhaps best be experienced by driving
the length of the William Lehman Cause-way. On either side of
this sixlane ribbon of concrete between mainland Aventura and
ocean-side Sunny Isles are pristine high-rises, placed like so
many giant chess pieces among the inlets of the Intracoastal Waterway.
The feeling is clean, safe and futuristic; Aventura's city hall,
on the south side of the causeway, is itself a study in hold,
modern architecture.
Aventura is a city clearly interested in keeping up appearances.
Its parks, golf courses and public spaces are all impeccably manicured,
the outward symbols of a posh residential enclave. Which is why
it comes as no surprise that the city commission voted last year
to turn the scruffy, industrial Thunder Alley (NE 188th Street)
into a residential zone. Now developers are busy laying the groundwork
for a new wave of waterfront condominiums to replace the legendary
Cigarette boat manufacturing facility, which is moving to Opa-Locka.
The redevelopment of Thunder Alley is more than just another salvo
of high-rises, however. It's a sign that Aventura is moving beyond
its identity as a bastion of luxury homes in the sky for out-of-towners.
The city has built a new charter school there, and a brand-new
community center--overlooking the Intracoastal, of course--at
the northeastern tip of NE 188th Street.
"The city commission realized that Aventura is definitely
getting younger, more family-oriented," says Paul Hariton.
He's a partner in VenAventura, a Venezuelan development team that's
building The Atrium at Aventura on the Cigarette site, a stone's
throw from the community center and the charter school. VenAventura
plans two 11-story towers featuring two-and three-bedroom floor
plans. In a nod to keeping the development family-friendly, the
192-unit Atrium will also feature an outdoor-barbecue area as
well as a children's play-ground. Prices start in the $300,000s
and rise into the $600,000 range; penthouses cost more than $1
million.
South of Thunder Alley, on NE 185th Street, another waterfront
mid-rise is also planned, by Orlando-based GDC Premier Communities.
Its $68 million, 193-unit Alaqua (named for an exotic flower)
marks GDC's first entrance into the South Florida market; when
the company was set up, says partner Michael Mulhall, it was with
the intent to "hit all the major markets in Florida, including
Tampa, Orlando and South Florida." GDC was interested in
Aventura specifically, Mulhall says, because of the city's strong
infrastructure. "You can tell when a city is investing in
itself to make itself better," Mulhall says, noting Aventura's
attention to maintaining its roads and beautifying common spaces.
While the city has its share of high-priced luxury condos, Mulhall
says GDC is offering units in its 7-story development for prices
ranging from $200,000 to $420,000. "It's a mid-priced condo,"
he says. "We wanted to come in at a more affordable price
point for families, with the close-by charter school being a big
attraction for them. But it's also nice because we feel that we're
appealing to a pretty broad market with our prices."
Mulhall says his development was capped at seven stories, with
a requirement from the city that Alaqua only be four stories at
the street. "When we were going through the approval process
the city created a new zoning variation for our site: mid-density
residential," he says, nothing that a closed-down wire factory
used to be on the site where Alaqua will rise. "We feel the
city is trying to balance the growth. My experience with Aventura
is that it works very hard with developers to plan something that's
going to work. They're considering the balance of the community."
In addition to the mid-rise nature of the Thunder Alley projects,
another factor bodes well for a little bit of New Urbanism to
seep into Aventura. The new projects are within walking distance
of Loehmann's Fashion Island, the outdoor mall which fronts Biscayne
Boulevard a few blocks to the west.
Loehmann's has, for years, been over-shadowed by the hyper-successful
Aventura Mall, which is owned by the Soffer family and their Turnberry
Associates, the city's pioneering founders. The 2.3-million square-foot
mall, which will go through a $5 million upgrade of its common
spaces and entrances, is the veritable linchpin that ties the
city together. These days, tenants now number more than 250--and
we're not just talking Gap stores and shops like Pottery Barn,
but luxury boutiques and big-name department stores such as Blooming-dale's.
Loehmann's, on the other (south) side of the Lehman Causeway,
is an outdoor retail center anchored by a Publix and a Barnes
& Noble. It was once a bustling center, with its own movie
complex, before massive roadwork to widen Biscayne Boulevard put
a dent in its stream of customers. Still, it remains a charming
alternative to Aventura Mall, and is about to undergo its own
renovation and expansion. Developers and city officials hope it
will become Aventura's "town center," with pedestrian-friendly
promenades and a New Urbanism-type sensibility.
The first phase of Loehmann's rebirth will include the demolition
of four buildings and the movie theater to make way for The Venture,
a $100 million, 500-unit residential project that will include
18,000 square feet of retail space. The project will be undertaken
by The Related Group of Florida, the development firm behind West
Palm Beach's City Place. Sales have not yet started at The Venture,
but Related's marketing director Mike Gentry says some preliminary
VIP events will begin in mid October. Gentry says Related will
offer "affordable luxury" in The Venture, and may work
with Prudential (Loehmann's owner) on additional redevelopment
phases. In the meantime, prices will start at $139,000 and rise
only to $279,000.
"The Related Group has a great knack for going into an area
and creating a product that is luxurious yet attainable,"
says Gentry. "And I think The Venture is the absolute epitome
of that philosophy." The two-building condominium development
will feature one at 11 stories with 308 units, the other at seven
stories with 192 units. "We're obviously not selling views,"
Gentry says. "We're selling creature comforts and amenities
and the knowledge that down the road the entire center will be
remodeled in several phases. And when you look at the City of
Aventura, you see that there's really no nucleus. This could become
it." Paul Hariton of the Atrium agrees. "What Aventura
needs is a downtown," he says. "We think that this area
is going to be it."
With the advent of an actual downtown for Aventura, along with
mid-rise projects, developers are hoping that this city of skyscrapers
and luxury automobiles may become, dare we say, a pedestrian-friendly
place. At the very least, it's hoped that residents will stop
relying so much on their cars and more on the city's successful
shuttle service, as well as their own two feet. Indeed, Aventura
is only a few miles in diameter. There are already well-used side-walk
systems and bike paths in place along the William Lehman Causeway
and Turnberry Way, which encircle the golf courses of Turnberry
Isle Resort & Club, the original core of Aventura built by
the Soffers.
"We think being able to walk around your city is what people
have been looking for in Aventura," says Hariton. "When
you have people who are starting to live here year-round, it's
different story."
In the meantime, the luxury high-rise nature of Aventura lives
on. The Related Group, for one, recently became managing partner
of the luxury condominium Aventura Marina, rising on 10.5 acres
of waterfront land at 190th Street. Prices there will range from
$300,000 to more than $1 million. "Aventura Marina is going
to further the luxurious lifestyle of the city," says Mark
Coleman, Related's senior development manager. "We thought
it was a fantastic opportunity."
CABI Development, for another, certainly scored when it purchased
from Turnberry International (owned by the Soffer family) a parcel
of land on Turnberry Way in the veritable heart of the city. The
Parc at Turnberry Isle, says principal Jacobo Cababie, will incorporate
two 22-story towers with a total of 110 units, with prices starting
in the $400,000s and rising to well above $1 million. Construction
is set to start in the next 30 days, Cababie says, with 60 percent
of the units sold.
CABI is the US arm of Mexican development giant Gixsa, and decided
to make its foray into South Florida in Aventura largely because
Cababie himself has been vacationing in Aventura for the last
20 years and now lives there full time. "First, we had units
in Turnberry, then in Porto Vita [another Turnberry luxury development
on Turnberry Way] and we became friends with Jeff Soffer,"
Cababie says, which led to plans for the Parc--and a partnership
in Turnberry Ocean Colony in nearby sunny Isles.
CABI is leading development in another aspect of Aventura's maturation:
commercial space. "We're also doing a Class A office building
called Country Club Center," Cababie says, which is under
construction and slated for completion in December. The nearly
finished 10-story building is adjacent to the Turnberry Isle Resort
and to the mall, with 70,000 square feet of space; Cababie says
the building is 35 percent leased, with prospective tenants showing
interest from Mexico. "We're talking to people who also want
to make their entrance into the United States," he says.
"Some of our Mexican buyers are customers who normally buy
in our developments there, and they already know us," he
says.
Near CABI's new project are Boca Developers' Peninsula and Hamptons
South, benchmarks of Aventura's success in perpetuating its luxury-enclave
status. The 223-unit Peninsula just received its certificate of
occupancy. A second building there will enter pre-sales soon,
says Phil Spiegelman, a principal in the International Sales Group,
which handles sales for a wide assortment of big-name projects,
including Aventura Marina.
While the international-buyer constituency in South Florida has
wanted to some extent, Spiegelman notes that Aventura has had
no trouble luring buyers from outside the domestic market. "I
would say that it's 50 percent of the market," Spiegelman
says. "They're already familiar with the shopping that's
here, a lot have been coming to South Florida for vacation for
a long time and know the area well. A lot of Latins have chosen
to settle in Aventura because of the value and the varying products
here."
Varying, indeed. From Williams Island (developed by Jules Trump)
and the 30-story BellaMare, a luxury development by Bonita Springs-based
WCI Communities, to Coscan Homes' Point of Aventura and low-rise
developments such as Alaqua and the Atrium, Aventura has product
that virtually spans the spectrum. If city leaders have their
way, that spread of product and price will lead to a diversity
of residents that will make Aventura the cosmopolitan center it
aspires to be.
South Florida CEO, Oct, 2003 by Tina Wingate
Hottest Home Sales:
Exclusive Zip Code Analysis
November 23, 2004
South Florida is one of the hottest real estate markets in the
country. And now, Bob Mayer has found which exact zip codes of
South Florida are the hottest.
With the help of
the Keyes Company, we commissioned an analysis of the Multiple
Listing Service. That's a database of home sales across South
Florida. Then, we ranked zip codes in four categories:
· The most properties sold
· The fewest days on the market
· The highest average price
· And the most gain in value.
Want to live in this hot zip code? Camp out! That's what people
did this month, waiting for these South Beach condos to go on
sale.
I asked, "Did you ever think that you would live to see the
day where people in South Florida would sleep on the street waiting
to buy a condo?"
"It's amazing. "It's the biggest boom in South Florida
since 1979, 1980."
Our analysis found that zip code 33139 -- South Beach -- sold
the most properties in the last 12 months. "We have primarily
locals buying in lower to middle tiers, and the out-of-towners
tend to buy the luxury apartments in South Beach,".
He warns, the demand for South Beach living is only going to increase.
Why? "Between June 2003 and June 2004, the amount of available
condos in Miami Beach decreased by fifty percent,". "Now
is the time to grab what's left."
Number two most sold? 33178 -- Doral/Miami.
Where are prices rising the most? Head east - not to Las Olas,
not to South Beach, but to this modest area in Broward County,
zip code 33009 Hallandale. Pappas said, "I think everybody
sees the Coral Gables, the Aventura, sees the high-priced markets,
the Pinecrest, the Las Olas, and they're looking for what I call
the next price tier jump."
Prices in Hallandale Beach are certainly jumping. This area went
up an average of nearly 50% per square foot in the last two years.
"People are looking for the older communities where there
is value," said Pappas.
The most expensive areas in our analysis? The waterfront mansions
of Las Olas area of Fort Lauderdale, and the green-covered homes
of Coconut Grove. Average price? About $600,000 to $700,000.
Where are homes selling the fastest? Zip code 33066 -- Coconut
Creek -- an average of only 33 days on the market.
Pappas says, it's because these homes are still affordable: "Five
years ago, 70% to 80% of the homes in South Florida were under
$250,000. Today, less than 25% are under $250,000 that are on
the market. So, through this appreciation, it's hard to find affordable
housing. And I think that may be an area that you can." For
example, we found two bedroom, two bath condos listed for only
$130,000.
Best zip code in overall combined ranking -- 33076 -- Coral Springs
and Parkland, just south of the Palm Beach border.
"It's just been incredible," said Helfman. "The
prices in this development started in about the mid-$100s, now
they are in the mid-$300s."
The price comes with lake views and a country-club lifestyle.
"You get the feeling of luxury with a little less price and
more for your money out in that marketplace,"
Tribes to push for full range of casino gambling
By John Holland
STAFF WRITER
Posted March 10 2005
Tuesday's vote approving slot machines gives the Seminole and
Miccosukee tribes unwelcome competition, but it also gives them
leverage in their push to bring not just slot machines, but craps,
blackjack and other Las Vegas-style gambling to their Florida
casinos.
Federal
regulators said Wednesday the state must now "negotiate in
good faith'' with the tribes on a gaming agreement, called a compact,
that would allow expanded gambling in exchange for a chunk of
the profits. If Florida doesn't negotiate fairly, the Secretary
of the Interior could ultimately give approval for anyway, said
Sean Pensoneau, spokesman for the National Indian Gaming Commission.
Such a
move is unprecedented, he said, since states usually reach agreements.
"It's
still early, but the NIGC thinks that this greatly strengthens
the tribes' position that the state must negotiate a compact,''
Pensoneau said. "If a class of gaming is available in the
state, then the tribes should be able to offer that class of gaming.''
The tribes
and federal government must wait to see how the state legislature
crafts the new law.
On Tuesday,
Broward County residents voted to allow slot machines at pari-mutuel
tracks in Dania Beach, Pompano Beach and Hallandale Beach, while
Miami-Dade voters rejected a similar measure.
The situation
is uncertain since only one county, Broward, approved the slots,
and because the vote didn't specify which level of slots would
be allowed. Class 2 machines currently in tribe casinos are based
on a bingo-style formula in which odds change as each number is
pulled.
The federal
government defines Class 3 games as having odds that remain constant,
including craps, blackjack, roulette and traditional slot machines.
"That's
one of the open items," Gov. Jeb Bush said on Wednesday.
"There's nothing in the initiatives that says we have to
have Class 3 slots."
While Pensoneau
said any federal ruling would apply to all casinos run by the
Seminoles and the Miccosukee, Bush said that's not necessarily
true.
"We
still don't have complete clarity. The Miccosukee Tribe gambling
facility is in Miami-Dade, and they didn't pass it, so I think
we're on new turf here,'' said Bush, who is staunchly opposed
to gambling. He also said that if legislators approve only Class
2 slots for the pari-mutuels, the tribes may not be entitled to
any changes.
Although
slot machines and craps are vastly different games, they are both
considered Class 3. The tribes argue that if one form of Class
3 is allowed, they are entitled to all forms.
So far,
only the Miccosukee have approached Bush about the compact, and
the governor said the state will negotiate when the time comes.
"We have an obligation in law to begin negotiations for a
compact, but it's very hard to do that until we get all this settled,''
Bush said.
Miccosukee
Chairman Billy Cypress could not be reached for comment on Tuesday.
Seminole Tribal Councilor Max Osceola said the tribe has been
trying to reach a deal with the state for 15 years and will reopen
negotiations shortly.
"We
still want a compact, but I don't know whether this vote will
help us or hurt us,'' Osceola said. "Basically, we want to
make a deal that will make the state a partner and let them share
the profits.''
In 1979,
the Seminoles became the first tribe in the country to open a
high-stakes bingo hall, overcoming several legal challenges by
the state and former Broward County Sheriff Bob Butterworth. The
ruling said tribes can offer the same level of gaming as states,
equating state-run lotteries with Indian bingo-style games.
Although
tribes are considered sovereign and free from state oversight
or interference, they still are accountable to federal law and
courts.
Fearing
Indian gaming would become rampant, Congress in 1988 created the
Indian Gaming Act that forced tribes and states to negotiate compacts
for table games like craps, blackjack and roulette and traditional
slot machines. Bingo-style games did not need such approval.
Florida
refused to sign a compact and the Seminoles sued, arguing their
rights were violated. In 1996, the U.S. Supreme Court sided with
Florida, saying states, like all Indian tribes, are immune from
unwanted lawsuits.
The ruling
didn't hurt the Seminoles, who operate large bingo casinos in
Hollywood, Tampa and Coconut Creek, and lesser ones on the Brighton
and Immokalee Reservations near Lake Okeechobee. The Miccosukee
operate a casino and golf resort in Miami-Dade.
But the
Seminoles want to expand, and argue Tuesday's vote opens the door.
Although
the Seminoles can't sue in court, they can appeal to the Department
of Interior, which regulates Indian tribes. Osceola said the Seminoles
will not unilaterally install Class 3 slots or gaming, but plan
to file a petition with the federal government.
"We're
not going to just go out and do what we want, because that would
be cutting off our nose to spite our face,'' Osceola said. "There's
a process, and we'll follow it. But in the end, I think we'll
wind up with a Class 3 license.''
Staff Writer
Mark Hollis contributed to this report.
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