FYI Miami: January 30, 2014
Written by Miami Today on January 29, 2014
AID FOR HAMMERHEAD: An unidentified digital gaming company codenamed Confidential Project Hammerhead last week received approval for Miami-Dade incentives for creating 60 jobs over a three-year period. Without discussion, county commissioners approved the tax aid for up to $30,600. The company says it is choosing among several communities in which to establish a headquarters and development location of 23,000 square feet. Its niche is free-to-play games for smartphones, tables, consoles and PCs. No word about when the company is to decide on a home.
COST OF DO-OVERS: Miami-Dade commissioners last week called on the county administration for a report on how much it costs the county over a year to re-advertise county contracts for whatever reason. Commissioners did not discuss the request for the report by Chairwoman Rebeca Sosa.
BELOW AVERAGE RENTS: Average asking office rents in Miami’s Central Business District were below the national average in the fourth quarter of 2013, gained less than the national average in the quarter and gained far less than the national average for 2013 as a whole, according to brokerage firm Cushman & Wakefield. Miami’s average asking rent in the urban core was $37.67 in the quarter versus $41.74 in central business districts nationally. Miami’s rate rose only 21 cents per square foot on the average, versus a national rise of 77 cents in the quarter, and Miami’s asking rate rose just 45 cents for the year versus a $2.79 per square foot gain nationally.
HOME PRICE GAINS SLOWING: Home values in South Florida rose 17.5% in 2013 to end the year at an average of $183,400, according to the Zillow Real Estate Market Reports. The firm’s national overview of real estate prices anticipates a rapid cooling of gains across the US, a cooling that it anticipates to become a 6.3% price appreciation for all residences in South Florida this year.
FLYING HIGHER: For a fourth consecutive year, Miami International Airport set a record for passenger traffic in 2013. The 40,562,948 passengers were 2.7% more than the 39,467,444 the airport handled in 2012. Passengers were almost equally split between international and domestic, which retained a slight edge but grew more slowly. The 20,201,503 international passengers were a 4.28% gain over 2012, while the 20,261,445 domestic passengers were a 1.32% gain. The airport also set a record for cargo at 2,105,121 freight tons, up 0.61% over 2012.