Miami Mortgage News

Miami-Orlando train track may host Tri-Rail commuter trains to downtown

Tri-Rail, the commuter service that has been running trains on the CSX track west of Interstate 95 between Palm Beach County and Miami since late last century, is now working on a major new plan: to run trains into downtown Miami beginning in late 2016 or early 2017.

Jack Stephens, executive director of the South Florida Regional Transportation Authority, said the plan calls for running the trains on a stretch of the same track that would be used by a planned Miami-Orlando passenger service.

The plan requires construction of a spur connecting the CSX track that Tri-Rail uses to the Florida East Coast Railway track. Though the spur is slated to be built by the Florida Department of Transportation, Tri-Rail is seeking an additional $69 million — money that would be needed within eight weeks to mesh with the construction schedule set for the Miami-Orlando service, known as All Aboard Florida. The money would be used to build Tri-Rail train platforms plus other enhancements such as ticket-vending machines.

Stephens said this is the best chance Tri-Rail has to run trains straight into downtown Miami. He said if transportation authorities miss this opportunity, Tri-Rail may never be able to operate trains into downtown Miami because costs would be prohibitive in the future. At most, he added, Tri-Rail would only be able to set up a station in mid-town Miami, but not downtown.

Tri-Rail expects funding to come from the City of Miami, Miami-Dade County and Miami’s Overtown Community Redevelopment Agency. Tri-Rail has yet to formally request any funds from the county. The plan did come up in a conversation in which Tri-Rail floated the idea of tapping CRA dollars.

Clarence Woods, executive director of the Southeast Overtown/Park West CRA, said he's had two conversations with Tri-Rail and as of Thursday hadn't received any formal proposals. That may be because CRA Chairman Keon Hardemon has told Tri-Rail that the CRA shouldn't be expected to foot the entire $48 million bill.

“He's not too keen on that,” Woods said. “The chair is determined to make sure other agencies pony up.”

If the CRA does commit funds, they would come in the form of property tax rebates.

According to City of Miami officials, the Florida Department of Transportation has agreed to pump $21 million into the project, leaving Tri-Rail with a $48 million hole to fill.


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Posted by Nour Ailan on April 15th, 2017 10:51 AM

All Aboard Florida Wants to Expand into Little Triangle Park


All Aboard Florida wants to expand its Downtown Miami station project into a 7,000 square foot triangular county-owned "green space" with trees, grass, and park benches at the southern tip of their property, which First Avenue currently veers around. The Miami Herald declines to use the word 'park', although that's pretty obviously what it is. In exchange they would give the county a chunk of land near the old Miami Arena site (which the Miami Herald does not specifically identify) where the city could "build a new park and perhaps a new fire station." Now the Herald drops the 'P' word, riiiiiiight.

Right now, the triangular green space is a rather neglected little park wedged between the Dade County Courthouse, some bleak office buildings, and the AAF construction site, but handing it over to AAF along with the right-of-way of the straightened road next to it would mean AAF could build a fifth tower south of the four currently planned. On the other hand, with all the new construction surrounding it, its existence as a park might finally be appreciated.

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Property Depreciation: Why the Tax Benefits Could Come Back to Bite You

Rethinking “Wealthy”: The 5-Step Ladder From Middle Class to Financial Freedom

How to Pay Yourself When Buying an Apartment Building with Investors



Posted by Nour Ailan on April 15th, 2017 10:37 AM

Sawgrass Mills to add 25 new full-price shops, restaurants

The country’s largest outlet mall is getting even bigger. But in a twist, its newest wing will be leased to full-price retailers rather than discounters.

Broward’s Sawgrass Mills in Sunrise, which draws millions of visitors each year, announced Tuesday that it is adding 118,000 square foot of space in an open-air expansion. The new area, called Town Center, will feature 25 full-price shops, a parking deck with room for 2,000 car and four new sit-down restaurants, according to a press release from owner Simon Property Group, the country’s largest shopping mall operator.

Town Center will be located in the southeast quadrant of the mall, near Brandsmart. A spokesman for Simon declined to provide additional details.

When Town Center opens in 2018, it will bring Sawgrass Mills’ total square footage to about 2.3 million square feet. Aventura Mall will still be the area’s largest at 2.7 million square feet.

The trend of mixing discount with full-price retail isn’t entirely new, said Marshal Cohen, chief retail analyst for consumer market research firm NPD. But at Sawgrass Mills, the pairing will be more obvious than pairings he’s seen in the past.

To compete, he expects most full-price retailers will offer discounts through coupons and sales. “You’ll be surprised at how similar the pricing turns out to be,” Cohen said.

Labeling a store as a discount or outlet retailer creates a consumer perception that those stores are less expensive, he said, even if the savings are minuscule.

“In many cases, a lot of the stores that are in these outlet malls, they’re not all that discounted,” Cohen said. “In fact, I’ve seen some that discount a penny.”


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Email: farah@theworldforsale.net

For More information FOLLOW this steps :Investor-Commercial Users

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No one sells like Nader

Links For the world:

6 Tips for Staying Compliant with Fair Housing Laws

Today’s Best Real Estate Blogs

What Are the Best Real Estate Investments? How to Find the Ideal Place to Put Your Money

The 3 Critical Elements of Human Happiness (& Why Unlimited Money Isn’t Enough)

5 Expert Tips to Attract Cream-of-the-Crop Tenants

How to Conduct an Inspection When Your Tenant Moves Out

4 Steps to Take Immediately After Selling Your Rental Property

5 Ways Landlords Can Achieve Better Tenant Stability

Property Depreciation: Why the Tax Benefits Could Come Back to Bite You

Rethinking “Wealthy”: The 5-Step Ladder From Middle Class to Financial Freedom

How to Pay Yourself When Buying an Apartment Building with Investors



Posted by Nour Ailan on April 15th, 2017 10:33 AM

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