FYI Miami: September 8, 2016
Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.
FLYING HIGHER: Miami International Airport passenger traffic continues to grow, with 2.75% more passengers this year than last through the first seven months of the year to total more than 26.7 million passengers arriving and departing combined, reported statistics reveal. The totals include almost 14.2 million domestic passengers, up 4.28% over the first seven months of 2015, and nearly 12.6 million international passengers, up 1.07%. Freight flowing through the airport, meanwhile, slipped a hair, down 0.07% for the year to 1,226,040 tons.
FLYING MORE PLACES: Scandinavian Airlines is to launch new flight service at Miami International Airport on Sept. 28, flying three times a week between the airport and Copenhagen, Denmark, and four times a week linking with Oslo, Norway. The next day Dominican Wings begins weekly flights linking Miami and both Punta Cana and Santo Domingo, Dominican Republic. Both airlines are new to the airport, officials announced. Last week the airport welcomed new international routes with four weekly flights to and from Bimini, Bahamas, by Silver Airways; three weekly links with Cologne, Germany, by Eurowings; and weekly non-stop flights to and from Paramaribo, Suriname, by Surinam Airways.
WYNWOOD REIMBURSEMENT: Miami-Dade commissioners were expected to vote this week on a resolution by Chairman Jean Monestime urging Congress and the Florida Legislature to allocate funds for economic recovery packages to help the Wynwood business section recover from the effects of Zika and to reimburse Miami-Dade County for funds expended on mosquito control and outreach and education efforts. The resolution noted that Mayor Carlos Gimenez on Aug. 11 wrote Gov. Rick Scott requesting state funds for economic recovery packages and to reimburse the county for its spending. It also said that on Aug. 10 the Wynwood Business Improvement District had reported that Wynwood’s economy had already seen a 50% to 75% drop in revenue.
NEWCOMERS TO SPUR HOME PRICES: Current home prices in Florida were down $42,000 compared to fourth quarter 2006 values, according to Cushman & Wakefield’s inaugural Florida Population Report. However, prices have risen $83,000 in the span of five years after bottoming out in 2011. According to the report, tight supply and pent-up demand are driving price increases and pace of sales as new residents snap up homes in fast-growing metros.