Panama Canal expansion fuels Miami growth


Panama Canal expansion fuels Miami growth
  1. Panama Canal expansion fuels Miami growth
    newsroompanama.com
    By Mark Scheinbaum MIAMI The folks who buy a three storey, 8,000 square foot penthouse at the Argentine-funded Arias tower for $6 million might actually smile at the “good deal” Miami represents in the global high-end luxury market. Last week, Goritza Draskovich, an MBA working on ARIAS, the Biscayne Boulevard/Arts & Entertainment District project for the Buenos Aires-based Melo developers, took realtors, urban planners, investors, and immigration attorneys on a virtual tour of the hig…
    Latin America

By Mark Scheinbaum

MIAMI The folks who buy a three storey, 8,000 square foot penthouse at the Argentine-funded Arias tower for $6 million might actually smile at the “good deal” Miami represents in the global high-end luxury market.

Last week, Goritza Draskovich, an MBA working on ARIAS, the Biscayne Boulevard/Arts & Entertainment District project for the Buenos Aires-based Melo developers, took realtors, urban planners, investors, and immigration attorneys on a virtual tour of the high-end world that is 2017 Miami.

While some observers feel trendy South (Miami) Beach is getting a bit outdated and even dangerous…its Lincoln Road shopping promenade is up for a total renovation; The Brickell Avenue’s financial and dining area is choked with traffic. and wealthy condo buyers like Panorama’s ex high roller,  Ricardo Martinelli now have waterfront views blocked by other buildings; artsy Wynwood and the Design District prices are spiking…Ms. Draskovich and her clients feel she offers a good alternative in that the City of Miami’s slice of Biscayne Boulevard, from Bayfront, the new Frost Science Museum, the Perez Museum of Art, the Adrienne Arsht Center and areas north still represent value to international and domestic luxury investors.

Miami has real investment benefits such as no Florida state income tax, as well as being a bilingual hub of Hispanic culture, business, art, medical care, education, and transportation.

Draskovich said that from 2011 to the start of 2017, Miami has gone from number 29 in the world to 6th in the world in relocation of international wealth, and in international cargo rankings during the same period, the Port of Miami has jumped from 11th to tied with New York for Number One in the USA, but may likely jump ahead later this year.

With wealthy families relocating to Miami, there are still concerns about the quality of Kindergarten-to-Grade 12 education, but then again, many of the retirees, vacation buyers, and young married or single residents are not that concerned about grade school.

One business leader told me privately that the super wealthy are more likely to send their children to boarding schools in New England or Europe in any case. But fine universities are a drawing card with the University of Miami and Florida International Universities attracting increased attention for quality of faculty and programs.

Here is a brief rundown of some factors that are still putting Miami’s luxury apartments, such as those at Arias in the $400,000+ range, and other projects with apartments, townhouses, and some gated community private homes just below the $1 million price point, (which would be $2-$5 million or more in New York, San Francisco, or some other US cities) in a favorable position:

Chinese-American buyers.  Ms. Draskovich, in answer to a question about anecdotal evidence of wealthy Chinese buyers in Miami, noted, “Actually not so much yet directly from China. But a number of American and Canadian families of Chinese ancestry who have many investment or residential properties have started buying more in Miami. Many more are looking.”

The implication was that in some cases, mainland Chinese business people would much prefer businesses to buy or expand in the United States, but were not doing huge real estate buying yet, which was the case a generation ago in Vancouver, Canada and elsewhere.

The Argentine Connection:  With Little Havana representing the influential Cuban-American soul of the USA, and news media focus on growing and social-climbing immigrants from Colombia, Venezuela, and Brazil, the Argentine influence is now also a central portion of the City of Miami’s growth as well as all of surrounding Miami-Dade County and South Florida.

For example, Argentina’s Melo (ariaonthebay.com) with a dozen completed ventures, most using modern designs by Arquitectonica Architects based in Miami is now one of the landmark regional developers. The Buenos Aires-based Faena conglomerate with its luxury Faena Hotel Miami Beach; modern Guggenheim-type art and conference Faena Forum building across the street, and several blocks of ocean-to-intracoastal residential, arts, and shopping buildings is already a high society and destination attraction on Miami Beach.

In publishing, entertainment, and the fine arts—not to mention restaurants, soccer sports bars and clubs, Argentina ex-pats are influential in Miami.

For example, the international exposition PINTA, the major Latin American art show running each year during Art Basel Miami/Miami Art Week is owned and managed by Argentine entrepreneurs who have now settled in Miami.

Panama Canal Expansion:  Many USA ports from Houston, Sarasota and New York have expanded and made adjustments for the “Post PanaMax” ships now traversing an expanded Panama Canal, but the Port of Miami has taken the lead, with a $2 billion underwater cargo truck tunnel and expanded container port infrastructure.

Shipping still drives the local economy beyond any tourism s…

  1. Mafia brasileña estaría detrás del espectacular asalto en Paraguay

    Latincorrespondent.com - Latin America
    04.26 / 22:06 latincorrespondent.com
    La policía federal brasileña arrestó el martes a ocho personas sospechosas de participar en el espectacular robo de millones de dólares matando a un agente de policía y volando por los aires un edificio casi entero en Ciudad del Este, Paraguay. Tres sospechosos fueron asesinados en lo que resultó un tiroteo de película el lunes,... Read more » The post Mafia brasileña estaría detrás del espectacular asalto en Paraguay appeared first on Latin Correspon…
  2. Petroleras extranjeras en Venezuela estarían repatriando a sus empleados

    Latincorrespondent.com - Latin America
    04.26 / 22:06 latincorrespondent.com
    A medida que se agudiza la política en Venezuela, empresas petroleras han comenzado a reducir aún más su ya corto número de empleados expatriados en ese país, de acuerdo con fuentes cercanas a la situación que hablaron en condición de anonimato. Statoil, Repsol y Chevron Corp. están entre las compañías petroleras extranjeras que tienen participaciones... Read more » The post Petroleras extranjeras en Venezuela estarían repatriando a sus empleados appeared first on Latin Correspond…
  3. Venezuela amenaza con abandonar la OEA… antes de que la saquen

    Latincorrespondent.com - Latin America
    04.26 / 22:06 latincorrespondent.com
    Venezuela advirtió el martes que dejaría a la Organización de Estados Americanos (OEA) si el organismo regional mantiene una posible reunión de Ministros de Relaciones Exteriores convocada para debatir la crítica situación de ese país. El gobierno de Venezuela y la OEA han estado chocando durante meses, e incluso Luis Almagro, secretario general de la... Read more » The post Venezuela amenaza con abandonar la OEA… antes de que la saquen appeared first on Latin Corres…
  4. Venezuela and Colombia at odds over soldiers’ asylum request

    Colombiareports.com - Colombia
    04.26 / 21:08 colombiareports.com
    Colombia’s Foreign Minister is considering giving refugee status to three military officials from Venezuela the neighboring country wants to try for desertion. The desertion and subsequent asylum request in Bogota further increases tensions between… Read more Venezuela and Colombia at odds over soldiers’ asylum req…
  5. Colombia headed for serious water shortage by 2050

    Colombiareports.com - Colombia
    04.26 / 20:31 colombiareports.com
    Colombia is the world’s 24th country with the most plentiful water resources on the planet, yet experts believe that within 35 years it will face serious water shortages, reported El Espectador… Read more Colombia headed for serious water shortage by …
  6. ‘The cleansing has just begun, death to all’: Colombia’s paramilitaries

    Colombiareports.com - Colombia
    04.26 / 20:01 colombiareports.com
    Pamphlets signed by the AGC, Colombia’s largest illegal armed group, confirmed the paramilitaries’ apparent attempt to consolidate power in former FARC territories throughout the country. While some 7,000 FARC guerrillas are still in rural camps… Read more ‘The cleansing has just begun, death to all’: Colombia’s para…
  7. Colombia’s James Rodriguez ‘with a foot and a half outside’ Real Madrid

    Colombiareports.com - Colombia
    04.26 / 16:44 colombiareports.com
    Colombia striker James Rodriguez stands is only barely holding onto his substitute position at Spanish soccer giant Real Madrid, Spanish sports paper AS reported Wednesday. The 25-year-old Colombian has had another disappointing… Read more Colombia’s James Rodriguez ‘with a foot and a half outside’ Real M…
  8. Military hospital is now hospital of peace

    Colombiareports.com - Colombia
    04.26 / 16:12 colombiareports.com
    If you had told me three years ago that someday people wounded in combat would stop arriving in the Military Hospital, I would have said: yes of course! My military hospital… Read more Military hospital is now hospital of …
  9. Press freedom in Colombia improved: Reporters Without Borders

    Colombiareports.com - Colombia
    04.26 / 15:24 colombiareports.com
    Press freedom in Colombia has slightly improved contrary to a global trend of reduced freedom, Reporters Without Borders (RSF) said in its annual World Press Freedom Index. The RSF expressed a… Read more Press freedom in Colombia improved: Reporters Without …
  10. Not one of Colombia’s state institutions passes corruption risk test

    Colombiareports.com - Colombia
    04.26 / 14:49 colombiareports.com
    A corruption risk survey carried out at 167 government institutions showed that all these state bodies are between medium and extreme risk of corruption. The Transparency Index of Public Entities set up… Read more Not one of Colombia’s state institutions passes corruption risk t…
  11. Trump wants to cut economic aid to Colombia with 30%

    Colombiareports.com - Colombia
    04.26 / 11:47 colombiareports.com
    US President Donald Trump has proposed US Congress to cut economic aid to Colombia with 28.9% from 113 million dollars to 105 million, according to Foreign Policy magazine. The political… Read more Trump wants to cut economic aid to Colombia with…
  12. US extradites former Colombia intelligence chief facing journalist torture charges

    Colombiareports.com - Colombia
    04.26 / 11:47 colombiareports.com
    The United States deported a former intelligence chief of Colombia’s now-defunct intelligence agency DAS, who is wanted in Colombia to face torture charges. Enrique Ariza, 49, was removed from the US on Monday to… Read more US extradites former Colombia intelligence chief facing journalist torture cha…
  13. FIFA-Panama corruption probe widens

    Newsroompanama.com - Panama
    04.25 / 23:52 newsroompanama.com
    Ariel Alvardo   PANAMA’S ROLE  in the FIFA  corruption scandal is finally under investigation. Revelations by the FBI   reverberated around the world and toppled the leadership at the world headquarters in Switzerland and in many regions. The Sixth Anti­Corruption Prosecutor has made new accusations in the investigation into bribes paid by FIFA to local soccer officials. The prosecutor has also ordered the continued pretrial detention of former Panama Football Federation (Fepaf…
  14. Martinelli son’s Madrid  apartment seized

    Newsroompanama.com - Panama
    04.25 / 23:22 newsroompanama.com
    AN APARTMENT valued at over $3 million dollars in an exclusive  Madrid neighborhood and belonging to one of the sons of ex-president Ricardo Martinelli, has been seized as part of the probe into bribes paid by the Odebrecht construction company to high rolling, politically connected  Panama insiders. The apartment is in the El Retiro district, home to wealthy foreign investors and near Retiro Park, and the famed Cibeles Fountain. It is the third seizure of Martinelli property in r…
  15. Fuerte terremoto de 6,9 grados no dejó víctimas en Chile

    Latincorrespondent.com - Latin America
    04.25 / 22:04 latincorrespondent.com
    Un fuerte terremoto de magnitud 6,9 sacudió el lunes la costa oeste de Chile y la capital, Santiago, causando una breve alarma a lo largo de la costa del Pacífico, pero sin daños serios que lamentar. El terremoto tuvo epicentro a unos 35 kilómetros al oeste de la ciudad costera de Valparaíso. El Servicio Geológico... Read more » The post Fuerte terremoto de 6,9 grados no dejó víctimas en Chile appeared first on Latin Corresp…
  16. Bolivia estaría dispuesta a extraditar al polémico youtuber que amenazó al presidente de Colombia

    Latincorrespondent.com - Latin America
    04.25 / 22:04 latincorrespondent.com
    Las autoridades judiciales de Bolivia ordenaron la captura del youtuber Josué Martínez Loaiza, quien a través de un vídeo amenazó con atentar contra el Gobierno del presidente de Colombia, Juan Manuel Santos. El ciudadano colombiano de 42 años fue detenido en Santa Cruz, ciudad donde residía. Los diálogos de paz entre el Gobierno y las... Read more » The post Bolivia estaría dispuesta a extraditar al polémico youtuber que amenazó al presidente de Colombia appeared first on Latin Corre…
  17. México y Costa Rica se enfrentan ante la OMC por el aguacate, o palta

    Latincorrespondent.com - Latin America
    04.25 / 22:04 latincorrespondent.com
    México y Costa Rica mantienen desde hace dos años una llamativa guerra provocada por nada más y nada menos que el aguacate, también conocido como palta o avocado. Por llamativo que parezca el conflicto, la aparición del virus conocido como ‘Mancha de Sol’ generó temor en Costa Rica, que decidió cerrar la importación del aguacate mexicano tipo... Read more » The post México y Costa Rica se enfrentan ante la OMC por el aguacate, o palta appeared first on Latin Correspond…
  18. Hearing of jailed ex-judge suspended

    Newsroompanama.com - Panama
    04.25 / 21:48 newsroompanama.com
    Moncada Luna, A HEARING  to review the health and living conditions of jailed ex- Supreme  Court president Alejandro Moncada Luna, has been suspended for the second time. The hearing requested by the former judge  was to have been held on Tuesday April 25. Panamenista deputy Jorge Iván Arrocha, who Is part of the  National Assembly Compliance Tribunal which is monitoring the case, reported that the cancelation was b cause  PRD deputy Pedro Miguel González, who was the prosecutor in th…
  19. Colombia’s landmines killed or maimed 4,500 civilians since 1990

    Colombiareports.com - Colombia
    04.25 / 19:54 colombiareports.com
    Almost 11,500 people, primarily soldiers,  have been either killed or maimed by anti-personnel mines in Colombia, according to a report by the National Center for Historical Memory. Nearly 40% of the… Read more Colombia’s landmines killed or maimed 4,500 civilians since 1…
  20. HRW urges Colombia to get serious about curbing political assassinations

    Colombiareports.com - Colombia
    04.25 / 19:16 colombiareports.com
    Human Rights Watch on Monday urged Colombia to effectively protect community activists and social leaders who have been subjected to death threats and assassinations amid the country’s peace process. “Peace and… Read more HRW urges Colombia to get serious about curbing political …