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Fort Lauderdale Votes To Move Forward On Elon Musk Tunnel System Study

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Fort Lauderdale commissioners voted to approve moving forward on a feasibility study for an underground transportation system using a network of tunnels designed by Elon Musk’s The Boring Company.

The system will be known as The Olas Loop, and will initially run 2.7 miles.

It won’t be a traditional mass-transit system, but will instead use Tesla cars that will be open to the public, which will ride through the underground tunnels.

Initially, it is planned to run from downtown to the beach, with a trip expected to take just 3 minutes, at ...

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Miami April 2022 New Signed Contracts

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“Newly signed contracts for single families declined month over month for the first time in 2022. In addition, condo new signed contracts fell for the second time. However, the jump in mortgage rates took some of the edge off of still elevated demand, enabling seasonal expansion of new single family listings.”

(data source: millersamuel.com)

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South Florida Investors invasion

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According to the latest Redfin investor real estate report in July, home purchases by investors in Miami and Fort Lauderdale jumped a whopping 90% in the second quarter of 2021, compared with the same period the year before.

Investors bought 2,640 homes in Miami in the second quarter of 2021, up by about 91% compared with 2020. They purchased 2,163 homes in Fort Lauderdale in the second quarter, up by 183% from the same period a year ago, and they gobbled up 1,243 homes in West Palm Beach, a 53% increase ...

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Miami-Dade’s SMART Rapid Transit Plan is on its way

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Miami-Dade County’s plan to build six new transit corridors advanced in 2020, and five of the six corridors now have a mode of transportation selected.

The mass transit expansion is known as the SMART Plan.

Here’s a look at what commissioners chose to build for each of the corridors:

  • Beach Corridor – A monorail will run 3.45 miles, from downtown Miami’s Omni station to 5th Street in South Beach.

  • Northeast Corridor – Commuter rail has been selected, ...

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Fisher Island to receive new residences by 2025. Will there be enough demand?

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It’s official: Fisher Island is set for 57 new condos and 12 single-family homes.

The Miami-Dade County Commission approved a plan last week that would bring the total number of residences on the private, 216-acre island to about 800 condo units and about 20 single-family homes.

Construction of the new residences is slated to begin in 2022, with completion in 2025, according to Kobi Karp, founder and principal of the Miami-based Kobi Karp Architecture & Interior Design, project architect.

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