Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog

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Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
miami report
AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA’S NEW CONDOMINIUM MARKET

                                   2020
       NEW MIAMI
    THE
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
“MIAMI IS ENTERING
A NEW GOLDEN AGE
OF GROWTH.”
           - ISG PRINCIPALS
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
PHOTOGRAPH BY GLEASON WAITE ROMER

                                    MIAMI, FL | CIRCA 1950
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
WEALTH REPORT
THE CITIES THAT MATTER TO HNWI’S - GLOBAL SURVEY

                                                                                                                       MOST IMPORTANT NOW

                                                                                                                              1
                                                                                                                                               2
   AS SEEN IN                                                                                                                       London

                                                                                                                              3
                                                                                                                                   New York
                                                                                                                                   Singapore
                                     THE WEALTH REPORT A GLOBAL PERSPECTIVE ON PRIME PROPERTY AND WEALTH 2012

                                                                                                                               4
                                                                                                                                             5
                                                                                                                                    Hong Kong
                                                                                                                                    Geneva

                                                                                                                                             6
                                                                                                                               7
                                                                                                                                   Shanghai

                                                                                                                         89
                                                                                                                                    Dubai

                                                                                                                                   Miami
   THE GLoBAL PERSPECTIVE oN PRIME
                                                                                                                                    Paris

                                                                                                                                             10
        PRoPERTy AND WEALTH

                                                                                                                                   Beijing
                                        WWW.THEWEALTHREPORT.NET

                                                                                                                HNWI – High Net Worth Individuals US $30 MIL +
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
NEW CONSTRUCTION
         PIPELINE
          AS OF FEBRUARY 2014
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
BRICKELL
TOTAL NEW CONSTRUCTION CONDO UNITS AVAILABLE FOR SALE SINCE JAN. 2012

                                                            DeveloperDEVELOPER
                                                                       Units UNITS
                                                                               SoldSOLD                                            Developer
                                                                                                                         DEVELOPER UNITS UNSOLD Units Unsold

                                                           1010 Brickell          50% SOLD                                             900
                                                                     BRICKELL                                  352 UNITS
                                                                    Bond          60% SOLD
                                                                     BRICKELL                                323 UNITS

                                            Brickell CityCentre I & II                                                                     820 UNITS
                                                                     BRICKELL                                                              (release date TBD)

                                                        *Brickell Heights         50% SOLD
                                                                     BRICKELL
                                                                                                                 358 UNITS

                                                          Brickell House          100% SOLD                      374 UNITS
                                                                     BRICKELL

                                                            Echo Brickell         70% SOLD       180 UNITS
                                                                     BRICKELL

                                                                                62% SOLD       128 UNITS
                                                                  Le Parc
                                                                     BRICKELL
                                                                                                                 390 UNITS
                                                    Nine at Mary Brickell           55% SOLD
                                                                     BRICKELL
                                                                                                                 382 UNITS
                                                              Millecento             100% SOLD
                                                                     BRICKELL
                                                                                                              192 UNITS
                                                                                100% SOLD
                                                               MyBrickell
                                                                     BRICKELL
                                                                                                                   450 UNITS
                                                             SLS Brickell         100% SOLD
                                                                     BRICKELL

*Tower 1 only (other tower currently unavailable)                                                             3,949 UNITS TOTAL • 2,367 UNITS SOLD • 1,581 UNSOLD
                                                                                                  AVG ABSORPTION : 1,900 UNITS ANNUALLY OVER THE LAST 10 YEARS
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
BISCAYNE CORRIDOR
DOWNTOWN MIAMI, EDGEWATER, MIDTOWN & DESIGN DISTRICT
TOTAL NEW CONSTRUCTION CONDO UNITS AVAILABLE FOR SALE SINCE JAN. 2012

                                                      Developer   Units
                                                            DEVELOPER UNITSSold
                                                                            SOLD                                           Developer Units Unsold
                                                                                                           DEVELOPER UNITS UNSOLD

                                                      Baltus House            93% SOLD
                                                                                                                                   800
                                                            DESIGN DISTRICT
                                                                                              167 UNITS
                                                  23 Biscayne Bay             100% SOLD    96 UNITS
                                                                EDGEWATER
                                                         Bay House            65% SOLD        164 UNITS
                                                                EDGEWATER

                                           Biscayne Beach Club                55% SOLD                       399 UNITS
                                                                EDGEWATER

                                                      The Crimson             50% SOLD 90 UNITS
                                                                EDGEWATER

                                                   Icon on the Bay            100% SOLD                   300 UNITS
                                                                EDGEWATER
                                                         Paraiso Bay          33% SOLD                                               720 UNITS
                                                                EDGEWATER
                                                  *Hyde Midtown                                               400 UNITS
                                                                                                              (release date TBD)
                                                                  MIDTOWN
                                                                                          85 UNITS
                                                     1000 Museum              18% SOLD
                                                          DOWNTOWN MIAMI
                                                               Centro         70% SOLD                      350 UNITS
                                                          DOWNTOWN MIAMI

*CONDO UNITS ONLY - RELEASE DATE TBD                                                                   2,771 UNITS TOTAL • 1,416 UNITS SOLD • 1,355 UNSOLD
                                                                                          AVG ABSORPTION : 1,300 UNITS ANNUALLY OVER THE LAST 10 YEARS
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
NEW CONSTRUCTION
     SUMMARY
     TOTAL NEW CONSTRUCTION CONDO UNITS TO BE BUILT, SOLD AND CURRENTLY AVAILABLE FOR SALE IN BISCAYNE CORRIDOR (DOWNTOWN MIAMI,
     EDGEWATER, MIDTOWN & DESIGN DISTRICT), THE MIAMI BEACHES (SOUTH BEACH, MIAMI BEACH, SURFSIDE, BAL HARBOUR, SUNNY ISLES, HALLANDALE
     & HOLLYWOOD BEACH), FORT LAUDERDALE, AVENTURA, NORTH MIAMI, COCONUT GROVE, & KEY BISCAYNE SINCE JAN. 2012
Project Units (Total)                                     Developer Units Sold                                             Developer Units

                 TOTAL NEW                            NEW CONSTRUCTION                           NEW CONSTRUCTION
                 CONSTRUCTION                         SOLD UNITS                                 UNSOLD UNITS
                 UNITS                                                                                       10000

   Project Units (Total)                                                10,329

  Developer Units Sold                             6,065                                            60%
                                                                                                    SOLD
                                                                                                    SINCE JAN. 2012

Developer Units Unsold                       4,264

          AVG ABSORPTION: 4,615 UNITS ANNUALLY OVER THE LAST 10 YEARS
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
10 YEAR ANNUAL ABSORPTION ANALYSIS
FOR CONDOS BUILT FROM 2003-2013
SUBMARKETS CONSIST OF BISCAYNE CORRIDOR ( DOWNTOWN MIAMI, EDGEWATER, MIDTOWN & DESIGN DISTRICT), THE MIAMI BEACHES (SOUTH
BEACH, MIAMI BEACH, SURFSIDE, BAL HARBOUR, SUNNY ISLES, HALLANDALE
                                                    Average        & HOLLYWOOD BEACH), FORT LAUDERDALE, AVENTURA, NORTH
                                                            Yearly Absorption
MIAMI, COCONUT GROVE & KEY BISCAYNE SINCE JAN. 2012

                                                                                                                                                                         4,615
                                                                                                                                                                         PER YEAR
                     AVERAGE YEARLY CONDO INVENTORY ABSORPTION FROM 2003-2013

         1,900
         PER YEAR
                                      1,300                            1,300
                                      PER YEAR                         PER YEAR                           215                                200           350
                                                                                                        PER YEAR                            PER YEAR       PER YEAR
          Brickell               Biscayne Corridor                   The Beaches                           Aventura                                    Fort Lauderdale   Total
                                                                                North Miami \ Key Biscayne
                                                                                    & Coconut Grove
Sources: Integrated Realty Information Systems (Iris); Miami-Dade & Broward County Property Appraiser And Multiple Listing Service (MLS).
Miami report 2020 - AN IN-DEPTH ANALYSIS OF SOUTH FLORIDA'S NEW CONDOMINIUM MARKET - New Miami Blog
STARCHITECTS
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                   A NEW STANDARD OF ARCHITECTURE                                                                                                                                                            Sage Beach                                                              Brickell House
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                                                                                                                                                                                                                                    Convention Center            One Brickell City
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                                                                                                                                                                                                                                                          Resorts World Miami
                                          One Ocean                                                                                                                                    1000 Museum
                                                                                                                                              Frost Museum
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  ICO                                     321 Ocean                                                                                           of Science                               Collins Park
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        STARCHITECTS MAKE                                                                    STAR ARCHITECTS LEAVE                                                                   ARCHITECTS                                                         ART BASEL -- AND REAL
        THEIR MARK IN MIAMI                                                                  A MARK ON MIAMI                                                                         TRANSFORMING                                                       ESTATE PROJECTS -- BRING
                                                                                                                                                                                     SOUTH FLORIDA                                                      STAR ARCHITECTS TO MIAMI
mls-resale
		 inventory
          AS OF FEBRUARY 2014
BRICKELL
New Condos Built Since 2006 & Available for Sale 18 Months Ago, 12 Months Ago, 6 Months Ago and Currently Active

                                                           Brickell MLS Inventory Analysis
                                              New Condos Built Since 2006 & Available for Sale 18 Months Ago,
                                                   12 Months Ago, 6 Months Ago, and Currently Active

                                                              Active Listings                        Price PSF

                                                                                                                       $501
                  900                                                                              $485
                                                                  $430                                                                $600
                  800            $401
                  700                                                                                                                 $500

                  600                                                                                                                 $400
                  500
                                                                                                                                      $300
                  400             805
                                                                   690                                                                $200
                  300
                                                                                                    525
                  200                                                                                                  391            $100
                 100
                                                                                                                                      $0
                     0
                             18 Months Ago                     12 Months Ago                    6 Months Ago       Currently Active
BISCAYNE CORRIDOR
DOWNTOWN MIAMI, EDGEWATER, MIDTOWN & DESIGN DISTRICT
New Condos Built Since 2006 & Available for Sale 18 Months Ago, 12 Months Ago, 6 Months Ago and Currently Active

                                           Downtown Miami & Edgewater MLS Inventory Analysis
                                                     New Condos Built Since 2006 & Available for Sale 18 Months Ago,
                                                          12 Months Ago, 6 Months Ago, and Currently Active

                                                                    Active Listings                     Price PSF

                         1,000                                                                                      $526
                                                                                                                                       $540
                           900
                                                                                                $501
                           800                                                                                                         $520
                           700
                                                                    $475                                                               $500
                           600        $450                                                                                             $480
                           500
                                          927
                           400
                                                                         860                                                           $460

                           300                                                                         651                             $440

                           200                                                                                          425            $420

                          100                                                                                                          $400
                              0
                                     18 Months Ago                  12 Months Ago                  6 Months Ago     Currently Active
DAYS ON       MARKET(DOM)
              Days On Market (DOM)
     2011 vs 2013 MLS Analysis for Closed Sales
ANALYSIS
MLS ANALYSIS FOR CLOSED SALES IN 2011 & 2013

                                          2011 AVG DOM         2013 AVG DOM

                                      Brickell           150             32
                Biscayne Corridor                          180                30
                               Aventura             115            34
                            The Beaches              120            39
    Greater Fort Lauderdale
                                                           174
            East Palm Beach                                                   39
                                                     147
                                                                        35
SOUTH AMERICAN MARKET REPORT
As Politics Continue To Shift, South Americans Are Moving To Miami

  Venezuela, Argentina, Brazil,                 MEXICO
  Colombia, Peru and Mexico
  continue to fuel the South Florida
  Real Estate market revival over the
  past two years.                                                     VENEZUELA
                                                         COLOMBIA
  Once again we see all Latin
  American Markets performing at
  the same time. As Miami continues                                        BRAZIL
  to embrace the cultures and flavor                           PERU
  of our neighbors to the South,
  Miami Real Estate will continue
  to grow and prosper as we truly                                     ARGENTINA
  become an International Gateway
  and World Class City.
MIAMITROPOLIS
Miami’s growth in the world of the arts, dining, high-end retail and
overall neighborhood transformations has officially placed the city
within the ranks of the most culturally rich locales in the world.
Here are just a few of Miami’s exciting new additions...

PEREZ ART MUSEUM MIAMI
SHOPPING, DINING,
& NEIGHBORHOOD
GROWTH                ADRIENNE ARSHT CENTER

BRICKELL CITYCENTRE
PANAMAEFFECT                            COMMERCE EXPANSION
                                         TRACKING FORCAST
Miami has commenced its $220
million dredge project combined    Florida East Coast Railway (FECR) $50
with a $2 billion infrastructure   Million in upgrades to the 351 miles of   COMPLETED
upgrade, that will make Miami      track from Miami to Jacksonville
one of the first and only U.S.
ports capable of housing the new
larger “Post-Panamax” ships        Government cut dredging                   SCHEDULED SUMMER OF 2014

                                   Port Tunnel opens for traffic             SCHEDULED SUMMER OF 2014

                                   Panama Canal Expansion Completion         SCHEDULED SUMMER OF 2015
AS SEEN IN
Bank of America Merrill          Bank of America Merrill Lynch Article

Lynch Article

“It will likely reshape global
imports, exports and trade
flows for years to come,                                                                                                       May 2013

affecting nearly every sector    Get Ready
                                 Get Ready
                                 for the Big Ships
of the American economy.”
                                 for the Big Ships
                                                                                                                               Contents
                                  Executive summary
                                                                                                            Panama Canal,
                                  In 2015, a little more than a century after the dramatic opening of the                      Targeting 2015 completion . . 2

“In Florida, the Port of Miami
                                                                                                                  ports from
                                  cargo ships the size of aircraft carriers will begin steaming toward American                Expanding logistics . . . . . . . . . 2

                                                                                                          East Coast
                                   Miami to New York. The expansion effort represents a potential boon to                      The role of finance . . . . . . . . . 3

has partnered with the U.S.        businesses and industries.                                                                  Infrastructure investments . . 3

                                                                                                                               New gateways . . . . . . . . . . . . . 4

Army Corps of Engineers                                                                                                        Capitalizing on strengths . . . . 4

                                  Executive summary                                                                            The takeaway . . . . . . . . . . . . . . 5

to dredge its harbors and                                                                                                                                                   Panama Canal,
                                  In 2015, a little more than a century after the dramatic opening of the
channels to a depth of 50                                                                                                                                                      n ports from
                                  cargo ships the size of aircraft carriers will begin steaming toward America
feet to accommodate new
                                                                                                                                                                             East Coast
                                  Miami to New York. The expansion effort represents a potential boon to
big ships”
                                  businesses and industries.
PORT OF MIAMI TUNNEL PROJECT

                                                             I-395

                                                    TUNNEL

                       RAILROAD

         DEEP DREDGE

WHARVES                           INTERMODAL YARD
STRENGTHENING

                The new tunnel, a $1 billion investment, is prepared to open
                next year and will allow daily business traffice to double.
J AC KS O N V I L L E
                       PROPOSED ROUTE
                                                    • All Aboard Florida is
                                                    the nation’s first privately
                                                    owned, operated and
                                                    maintained intercity
           ORLANDO                                  passenger rail system
           A P R OX . 3 H O U R S
TA M PA                                             • Passengers traveling
PROPOSED                                            from South Florida
ROUTE                                               to Orlando will
                                                    have a commute of
                                                    approximately 3 hours

                          W E ST PA L M B E AC H    • Service is expected
                          A P P R OX . 1 H O U R
                                                    to begin by the end of
                          FO RT L AU D E R DA L E   2015.
                          A P P R OX . 2 5 M I N

                               FROM   MIAMI
VINTAGE
MIAMI                           BRICK
                                        ELL A
                                                VENU
                                                       E

                                CURRENT LOCATION
                                       FOUR
                                    SEASONS

     BRICKELL | MIAMI, FL | CIRCA 1917
AMERICAN
                                    AIRLINES
                                     ARENA

                                            D
                           B O U L E VA R
          B I S C AY N E
 I-39 5
 1997
MIAMI
SOUTH FLORIDA
2020
Over $25 Billion in new construction,
government expansions and upgrades from
Greater Miami to Fort Lauderdale

                                          ISG MIAMI REPORT   | 24
BRICKELL 2020
                                                 OVER $5 BILLION IN
                                                   B R I C K E L L  NEW DEVELOPMENT
                                                                      2 0 2 0
                                                                                   *

                                                                                                                B R I C K E L L :                                                       $ 5                   B I L L I O N                                   I N            N E W            D E V E L O P M E N T *

 Landscape                        Echo Brickell                               Le Parc                         Atton Hotel                    Brickell House                                SLS Brickell                        Panorama                       Millecento       The Bond         1010 Brickell             NINE               Brickell            Brickell                  My              One Brickell
      Park                           (PMG & JDS)                  (ALTA & Strategic)                             270 Rooms                           (New Guard)                              (Related)                        Tower                             (Related)          (MDR)       (Key International)       at Mary Brickell   Heights             City Centre               Brickell        (Related)
        Public                          180 Luxury                    128 Boutique                                 12 Stories                         374 Condos                           450 Condos                          (Florida East Coast)           382 Condos       328 Condos       352 Condos                (Starwood          (Related)           (Swire)                   (Related)       3 Towers
 Bayfront Park                          Residences                          Condos                                 Design by                            46 Stories                    120 Hotel Rooms                          821 Condos                       42 Stories       43 Stories     47 Stories                Capital & Lynd)    690 Condos          5.4 million sq. ft.       192 Condos      80 Stories
     Proposed                            57 Stories                      12 Stories                             Luis Revuelta                                                                52 Stories                        128 Hotel Rooms                  Design by                       Design by                 420 Condos         48 Stories          2 Towers - 9 Acres        27 Stories      70 Stories
                                   Collaboration by                                                                                                                                          Design by                         81 Stories                     Carlos Ott +                      Sieger Suarez             48 Stories         Design by           800 Condos                                55 Stories
                                       Carlos Ott +                                                                                                                                       Phillipe Stark                       82,000 Sq. Ft. Retail           Pininfarina                                                Design by ADD      Arquitectonica      93 Apartments                             1,200 Condos
                                         yoo Studio                                                                                                                                                                            38,000 Sq. Ft. Office                                                                                                             243 Hotel Rooms                           200 Hotel Rooms
                                                                                                                                                                                                                                                                                                                                                                 520,000 Sq Ft. Retail                     200,000 Sq.Ft.
                                                                                                                                                                                                                                                                                                                                                                 240,000 Sq. Ft. Office                    Retail
                                                                                                                                                                                                                                                                                                                                                                                                           Proposed

                                                 CORAL GABLES

                                                                                                                                                                                                                                                                                                                      MARLIN’S STADIUM
                                                                                                                                                                                                                                                                                                                                                     MIAMI RIVER DISTRICT

                                                                                                                                                                                                                                                                                                                                                                                                             DOWNTOWN

                                                    BISCAYNE BAY                                                                                                                                                                                                                                                      BRICKELL KEY

                                                                                                                                                                                                                                                                                                                                                                                          BISCAYNE BAY

While ISG strives to make the information in this Report as timely and accurate as possible, third party sources were used and ISG therefore makes no claims, promises, or guarantees about the accuracy, completeness, or adequacy of the contents of this
report and expressly disclaims liability for errors and omissions in its contents.                                                                                                                                                                                                                                                                                              *AMOUNTS ARE AN ESTIMATE
DOWNTOWN MIAMI 2020
                                             $10 BILLION
                                          D O W N T O W NIN NEW DEVELOPMENT
                                                               M I A M I
                                                                           *
                                                                         2 0 2 0
                                                                                                                                    D O W N T O W N                                                                 M I A M I :                               $ 1 0               B I L L I O N                      I N             N E W                 D E V E L O P M E N T *

            MET (MDM)                           One Bayfront Plaza                                 Biscayne Boulevard                              Skyrise Miami                                              Vizcayne                CENTRO                      Port of         Miami World           1000 Museum                 Museum Park                    Adrienne Arsht              Resorts World        Omni
         JW Marriott Hotel                                           (FECR)                                      Beautification                    Tower (Berkowitz)                            Two 49 Story Towers                   (Newgard)                   Miami           Center                (Covin)                     29 acres.                             Center                       Miami        (Genting)
          Beaux Arts Hotel                                4.2 million sq. ft.                                Grand Boulevard                       1,000 Ft. Observation                               849 Condos                     37 Stories               Expansion          (Falcone)             60 Stories                  Perez Art Museum Miami             48,000 Sq. Ft.                   (Genting)   1.5 Million
              MET Square                                      72 Story Tower                         Landscaping & Baywalk                         Tower                                        55,000 Sq. Ft. Retail                 352 Loft Style            & Tunnel          12 Million Sq. Ft.,   85 Condos                   Patricia & Phillip Frost   Film Production Studio                    14 acres   Sq. Ft.
        470 Hotel Rooms                                           Mixed-use,                       Links Streets, Parks & Bay                      Mixed Use Retail and                                                               Condos                                      27 Acres              100 Single Floor            Museum of Science                                          Destination Resort   Hilton Hotel,
       1,700 Seat Theatre                                Office, Hotel, Retail                                                                     Hospitality                                                                                                Connects I-395      Hotel, Retail,        Condos                                                                               Hotels & Residences    Office, Retail
            4 Story Retail,                                                                                                                                                                                                                                              and      Civic Space,          Design by                                                                                                   &
           41,000 Sq. Ft.                                                                                                                                                                                                                                      Watson Island      Office, Residential   Zaha Hadid                            Overtown Gateway                                                      Potential
               Restaurant                                                                                                                                                                All Aboard Florida                                                           to Port                                                                 (Peebles)                                                             Casino
             Whole Foods                                                                                                                               Flagler on                              (Florida East Coast                                                                                                                            2 Phases
                                                                                                                                                       the River                                         Industries)                                                                                                                          150 Staybridge Hotel Room
                                                                                                                                                       (MELO)                                   Mixed use 9 Acres                                                                                                                             Suites
                                                                                                                                                       32 Stories                               1.5 Million Sq. Ft.                                                                                                                           635 Condos
                                                                                                                                                       300 Condos                               Office, Residential                                                                                                                           60,000 Sq. Ft. Retail
                                                                                                                                                       Residences                                Retail, and Hotel.                                                                                                                           100,000 Sq. Ft. Office

                                                                                                                                                                                                                                                              MARLINS                                        MIAMI RIVER DISTRICT
                                                                                                                                                                                                                                                              STADIUM

                                                                                                                                                          GUSMAN
                                                                                                                                                          CENTER

                                                                                                                                                                                                                                  MIAMI DADE
                                                                                                                                                                                                                                   COLLEGE

                                                                                                                                                                                                                                                              FREEDOM TOWER

                                                                                                                                                                                                                     BAYSIDE MARINA                           AMERICAN AIRLINES
                                                                                                                                                                                                                                                                   ARENA

        BISCAYNE BAY                                                                                                                                                                                                                                                                                                                                                                     BISCAYNE BAY

                                                                                                                                                                                                                                                                                                        WATSON ISLAND MARINA

                                                                                                                                                                                                                                      CRUISE SHIP PORT

          PORT OF MIAMI

While ISG strives to make the information in this Report as timely and accurate as possible, third party sources were used and ISG therefore makes no claims, promises, or guarantees about the accuracy, completeness, or adequacy of the contents of this
report and expressly disclaims liability for errors and omissions in its contents.                                                                                                                                                                                                                                                                                                      *AMOUNTS ARE AN ESTIMATE
BISCAYNE CORRIDOR 2020
                                        OVER $2.5 BILLION
                                        D O W N T O W N   IN NEW  DEVELOPMENT
                                                              M I A M I
                                                                              *
                                                                         2 0 2 0
                                                                                                                                    D O W N T O W N                                                                 M I A M I :                               $ 1 0               B I L L I O N                      I N             N E W                 D E V E L O P M E N T *

            MET (MDM)                           One Bayfront Plaza                                 Biscayne Boulevard                              Skyrise Miami                                              Vizcayne                CENTRO                      Port of         Miami World           1000 Museum                 Museum Park                    Adrienne Arsht              Resorts World        Omni
         JW Marriott Hotel                                           (FECR)                                      Beautification                    Tower (Berkowitz)                            Two 49 Story Towers                   (Newgard)                   Miami           Center                (Covin)                     29 acres.                             Center                       Miami        (Genting)
          Beaux Arts Hotel                                4.2 million sq. ft.                                Grand Boulevard                       1,000 Ft. Observation                               849 Condos                     37 Stories               Expansion          (Falcone)             60 Stories                  Perez Art Museum Miami             48,000 Sq. Ft.                   (Genting)   1.5 Million
              MET Square                                      72 Story Tower                         Landscaping & Baywalk                         Tower                                        55,000 Sq. Ft. Retail                 352 Loft Style            & Tunnel          12 Million Sq. Ft.,   85 Condos                   Patricia & Phillip Frost   Film Production Studio                    14 acres   Sq. Ft.
        470 Hotel Rooms                                           Mixed-use,                       Links Streets, Parks & Bay                      Mixed Use Retail and                                                               Condos                                      27 Acres              100 Single Floor            Museum of Science                                          Destination Resort   Hilton Hotel,
       1,700 Seat Theatre                                Office, Hotel, Retail                                                                     Hospitality                                                                                                Connects I-395      Hotel, Retail,        Condos                                                                               Hotels & Residences    Office, Retail
            4 Story Retail,                                                                                                                                                                                                                                              and      Civic Space,          Design by                                                                                                   &
           41,000 Sq. Ft.                                                                                                                                                                                                                                      Watson Island      Office, Residential   Zaha Hadid                            Overtown Gateway                                                      Potential
               Restaurant                                                                                                                                                                All Aboard Florida                                                           to Port                                                                 (Peebles)                                                             Casino
             Whole Foods                                                                                                                               Flagler on                              (Florida East Coast                                                                                                                            2 Phases
                                                                                                                                                       the River                                         Industries)                                                                                                                          150 Staybridge Hotel Room
                                                                                                                                                       (MELO)                                   Mixed use 9 Acres                                                                                                                             Suites
                                                                                                                                                       32 Stories                               1.5 Million Sq. Ft.                                                                                                                           635 Condos
                                                                                                                                                       300 Condos                               Office, Residential                                                                                                                           60,000 Sq. Ft. Retail
                                                                                                                                                       Residences                                Retail, and Hotel.                                                                                                                           100,000 Sq. Ft. Office

                                                                                                                                                                                                                                                              MARLINS                                        MIAMI RIVER DISTRICT
                                                                                                                                                                                                                                                              STADIUM

                                                                                                                                                          GUSMAN
                                                                                                                                                          CENTER

                                                                                                                                                                                                                                  MIAMI DADE
                                                                                                                                                                                                                                   COLLEGE

                                                                                                                                                                                                                                                              FREEDOM TOWER

                                                                                                                                                                                                                     BAYSIDE MARINA                           AMERICAN AIRLINES
                                                                                                                                                                                                                                                                   ARENA

        BISCAYNE BAY                                                                                                                                                                                                                                                                                                                                                                     BISCAYNE BAY

                                                                                                                                                                                                                                                                                                        WATSON ISLAND MARINA

                                                                                                                                                                                                                                      CRUISE SHIP PORT

          PORT OF MIAMI

While ISG strives to make the information in this Report as timely and accurate as possible, third party sources were used and ISG therefore makes no claims, promises, or guarantees about the accuracy, completeness, or adequacy of the contents of this
report and expressly disclaims liability for errors and omissions in its contents.                                                                                                                                                                                                                                                                                                      *AMOUNTS ARE AN ESTIMATE
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