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- 🔑 $102M Miami River Project, Jazz in the Gardens & City National Bank Expands!
🔑 $102M Miami River Project, Jazz in the Gardens & City National Bank Expands!
Check out how Miami's wealth, culture, industry, and real estate is booming this week!
Joe Biscaha
March 14, 2025
Happy Friday, Miami!
In this week’s update:
🎷 Jazz in the Gardens Continues to Grow: The annual music festival, considered one of the largest Black music festivals in the U.S., will once again bring A-list acts to the stage while also showcasing local food vendors, artists and cultural experiences at Hard Rock Stadium.
🌃 New Affordable Housing Project Planned for Miami River: Miami-Dade County considers $101.7 million housing project on March 11. Related Urban Development Group plans 236 apartments on Miami River. The 99-year lease could generate $280.2 million for county.
💰 City National Bank of Florida Expands: City National Bank plans major expansion in Tampa Bay region. CNB recruited local bankers to lead Tampa expansion efforts. Bank aims to hire 200 people companywide in 18 months.
In case you missed it
🎥 The Great Florida Condo Shift | What's Happening to Miami Condos in 2025?
Are you wondering what's happening to Miami condos in 2025? In this video, I'll dive into the latest trends and updates affecting the Florida condo market 📊
From changes in demand and supply to shifting buyer preferences. Whether you're a real estate investor, a homeowner, or just interested in the Miami real estate market, this video is for you.
⭐️ Stay ahead of the curve and find out what's in store for Miami condos in 2025.
Driving the news: Miami-Dade County is considering a land lease deal with Related Urban Development Group (RUDG) for a $101.7 million affordable housing project along the Miami River. The proposal, which includes 236 apartments and retail space, is set for review by the County Commission on April 1.
Details:
The 19-story Gallery at Riverwalk would feature 108 affordable units for those earning up to 80% of the area median income and 108 workforce units.
36 public housing units would be relocated from the Harry Cain building to this new development.
Apartments will range from 400 to 1,195 square feet, with 158 one-bedroom and 78 two-bedroom units.
Planned amenities include a pool, coworking space, fitness center, pickleball court, dog wash station, and a public riverwalk.
The 99-year lease could generate $280.2 million in revenue for the county.
Why it matters: Miami’s housing costs continue to rise, making affordable and workforce housing a priority for residents. This project could provide much-needed relief for middle-income earners struggling to find housing near the city’s core.
The big picture: The Gallery at Riverwalk is part of RUDG’s ongoing strategy to develop affordable housing on county-owned land, a model that helps reduce costs while maximizing the number of income-restricted units. As housing demand grows, similar projects could play a key role in shaping Miami’s future.
Between the lines: The county is leveraging public land to address its housing crisis, with long-term lease agreements helping to fund infrastructure while keeping costs manageable for developers.
What’s next: If approved, the project will move forward with financing, including tax credits for affordable housing units. Construction timelines are expected to follow in the coming months.
The bottom line: Miami-Dade is taking steps to expand affordable housing, and the Gallery at Riverwalk could be a game-changer for residents seeking reasonably priced homes in a prime location.
Real Estate Insights
What to do this weekend
🚌 Legacy Unveiled: Journey Through Miami's Hidden History
The bus tour explores Miami's redlined communities and the historic landmarks in them.
📍 Location: C. Lawton McCall Community Center
🗓️ Date & Time: Saturday 15th, 9am-12:30pm
🎟️ Tickets: Tickets start at $25
🔗 More Info
📕 Picnic de Libros
A multidisciplinary and bilingual event promoting literature and the arts for children. The event will feature crafts, music and picnic baskets full of books.
📍 Location: Miami Dade College Koubek Center Gardens
🗓️ Date & Time: Saturday 15th, 2pm-5pm
🎟️ Tickets: Free
🔗 More Info
🎤 South Dade Youth Music Festival
A family-friendly event highlighting young artists, families and community organizations in District 9.
📍 Location: Losner Park in Homestead
🗓️ Date & Time: Saturday 15th, 1pm-6pm
🎟️ Tickets: Free
🔗 More Info
🌱 Community Action Day
Help remove litter and debris and assist with mulching, painting and landscaping.
📍 Location: Gwen Cherry Park
🗓️ Date & Time: Saturday 15th, 9am-10am
🎟️ Tickets: Free
🔗 More Info
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Have a great weekend!!
-Joe