Regions Southeast | Miami
Fewer Taxes Involved in Broward Convention Hotel Plan
June 6, 2008
Source: Miami Herald

Updated financing plans for a hotel at the Broward County (Florida) Convention Center envision 14 percent of the county's tourist tax dollars for the project. That's less than previously proposed, according to the Miami Herald.

That percentage, worth about $7 million per year in the current economy, would be used to market the proposed 1,000-room Hilton should the hotel fail to meet profit forecasts. Though the county would sell $440 million in tax-exempt government bonds for construction costs, the newspaper says Wall Street would shoulder most of the financial burden.

 
Recent Miami Headlines
Flagler Inks Tenant to 240,000-SF Lease at Florida Biz Park
Nov. 20, 2008
Flagler Development Group has signed paper products firm Lagasse Sweet to a 240,000-square-foot lease in a build-to-suit facility at Flagler Station, South Florida’s largest business park.
Miami Worldcenter City Commission OKs Zoning for 25-Acre Miami Worldcenter
Nov. 18, 2008
The Miami City commission has approved special district zoning for Miami Worldcenter, a nine-block mixed-use development situated north of the city's Central Business District. 
The Palms at Town Flagler Breaks Ground on 400,000-SF Expansion at Miami Retail Center
Nov. 06, 2008
Flagler Real Estate has broken ground on the new 400,000-square-foot retail expansion at The Palms at Town & Country in Miami. When completed, the 75-acre site located at 8268 Mills Drive and owned by TIAA-CREF, will house 700,000 square feet of mixed retail components in an open-air design and a 133,000-square-foot Professional Arts Center.
Financing Deal Closes for Miami Office Space
Oct. 27, 2008
The financial crisis is not keeping Kennedy Financing from doling out loans. The Hackensack, N.J.-based direct private lender has just closed a financing deal for 888 Biscayne Enterprises L.L.C.'s acquisition of 44,000 square feet of unfinished commercial space on four floors of the newly developed Marina Blue Condominium building overlooking Biscayne Bay in Miami.
Met 2 $250M Loan Closes for $1B Miami Mixed-Use Project
Oct. 22, 2008
Judging by news that just emerged about the ambitious Metropolitan Miami mixed-use project, one would not know that there is a banking crisis, a struggling economy and a souring real estate market. Joint venture partners MDM Development Group and MetLife Insurance Co. have just gotten their hands on a $250 million construction loan for the Met 2 Financial Center segment of the $1 billion Downtown Miami endeavor.