Matthew Carpenter Matthew Carpenter

Multifamily Project in Historic Miami District Secures $36M Construction Loan

The prolific multifamily developer Estate Cos. is building the eight-story, 240-unit Soleste Spring Gardens south of the Dolphin Expressway near the Miami River.

Prolific South Florida multifamily developer The Estate Cos. secured a $36 million construction loan for its new community in Miami’s historic Spring Garden district.

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Matthew Carpenter Matthew Carpenter

Inbound New York Buyers Boost Miami Soaring Home Sales in August

Miami single-family home sales jumped 16.6% year-over-year

According to the Miami Association of Realtors, Miami-Dade County total home sales surged in August 2020. Miami-Dade County total residential property sales jumped 6.4% year-over-year, from 2,374 to 2,527. Miami single-family home sales jumped 16.6% year-over-year, from 1,164 to 1,357. Miami existing condo transactions decreased 3.3% year-over-year, from 1,210 to 1,170.

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Matthew Carpenter Matthew Carpenter

Developers bet big on build-for-rent due to COVID

Firms are pouring billions of dollars into new single-family rental communities in the thick of the pandemic

Miami-based Global City Development, backed by the Brazilian investment management firm Leste, recently broke ground on more than 320 acres in Raleigh, North Carolina, and is aiming to build even larger homes than its competitors.

The companies are planning to develop 700 single-family homes and townhouses, ranging from 1,800 to 2,200 square feet with up to four bedrooms, before the end of 2021 as part of a $2.5 billion plan plan to build tens of thousands of houses in 30 communities over the next five to seven years.

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Matthew Carpenter Matthew Carpenter

Miami-Dade Home Prices Rise in June Due to Strong Demand

“The Miami-Dade real estate market continues a robust recovery evidenced by continuing surging pending sales and increasing market activity,” MIAMI Chairman of the Board Jorge L. Guerra Jr. said. “Historically low mortgage rates,

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Matthew Carpenter Matthew Carpenter

Chicago State Grant Initiative Announced to Help Communities and Businesses

Governor Pritzker announced a new state initiative to help communities and businesses affected by COVID-19 and recent protests. New state budget funds and funds from the CARES Act make up the $900 million grant. Priority will be given to those hit hardest by the events of the last few months. 

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Matthew Carpenter Matthew Carpenter

ANOTHER TRANSIT ORIENTED DEVELOPMENT NEAR METRORAIL: SHOMA PROPOSES 391 APARTMENTS AT BIRD ROAD, INCLDUING MICRO-UNITS

The Metrorail has seen a significant number of new developments either proposed or under construction next to almost every major station, and now another proposal has been submitted.

Shoma wants to build a project near the Douglas Road Metrorail station, according to plans that were just submitted to Miami’s Planning Department.

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Matthew Carpenter Matthew Carpenter

Chicago is still a strong renter’s market. Over 50% of the populations rents in this city. So if you buy a Chicago real estate investment to use as a rental property, you could benefit in this market.

Buying a property in Chicago is still considered as a good real estate investment. We’ll be discussing the latest Chicago housing market trends to find out how they can affect the investors and homebuyers in 2020. Chicago metropolitan area or Chicagoland, is an area that includes the city of Chicago and its suburbs.

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Matthew Carpenter Matthew Carpenter

Can Chicago’s Housing Market Weather COVID-19?

In a few short weeks, the COVID-19 virus has wreaked havoc on nearly every facet of American life. But it’s not all disastrous news. For now, the housing market is proving more resistant to the pandemic than other sectors of the economy.

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