Can A Generator Add Value To Your Home? — Urban Resource
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Recent news of the Bal Harbour Shops affordable housing expansion creates a paradigm shift for luxury living in South Florida. Whitman Family Development, the visionary owner of Bal Harbour Shops, is spearheading an ambitious mixed-use expansion project. This entails leveraging Florida’s recent affordable housing legislation. The proposed venture encompasses a 70-room hotel, 600 residential units, and an additional 46,000 square feet of retail space. This strategic move involves repurposing the space initially designated for a Barneys store, aligning with the Live Local Act. A new legislation was signed into law by Governor Ron DeSantis last year.
Despite past challenges, including a 2017 approval following a prolonged battle, Whitman Family Development aims to capitalize on the Live Local Act to enhance the project. The legislation, however, has faced resistance in some municipalities, leading to measures like building moratoriums and legal disputes over conflicting regulations.
The broader impact of the Live Local Act is evident in other areas, such as Miami Beach, where conflicts over land development regulations arise. In Doral, a temporary moratorium was imposed to analyze the legislation’s implications, resulting in compromises with developers like the Apollo Companies.
The Live Local Act addresses zoning implications, allocates substantial funding, introduces developer tax incentives, and explicitly prohibits rent control. The evolving landscape of affordable housing initiatives in Florida reflects the complex interplay between development goals, regulatory frameworks, and community considerations.
In conclusion, the owner of Bal Harbour Shops is poised to redefine luxury living through a groundbreaking expansion that combines opulence with inclusivity. As Bal Harbour evolves, it becomes a beacon of innovation in real estate, showcasing the harmonious integration of luxury and accessibility. Stay tuned for updates on this transformative development venture.
An expert in South Florida coastal properties, my specialty areas include South Beach, Miami Beach, Sunny Isles Beach, Aventura, Bal Harbour, Bay Harbor Islands, Surfside, Miami Shores, Brickell, Downtown, Wynwood-Edgewater-Midtown, Key Biscayne, Bay Harbour Islands, Coconut Grove, and Coral Gables. For Broward County, specialty areas include Plantation, Southwest Ranches, Davie, Hollywood, Dania Beach, Hallandale, and Fort Lauderdale (East of US1).
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