FYI Miami: August 24, 2017
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.
DEGREES ON TIME: A foundation’s gift will hand 1,000 students in the last year of their studies at Miami Dade College and Florida International University $1,000 apiece each year to expedite completion of their degrees. The gift from the Braman Family Foundation is to be announced this week in the face of statistics that 15% of college students in their last 25% of college drop out, mainly for financial reasons. “We value education and want to do our part to ensure that the young people in this community achieve their goals,” said Debi Braman Wechsler, director of the foundation. “We know that there are many students who are unable to complete their education due to financial limitations and, with this gift, we are excited to see more students graduate on time in the coming year.”
TRANSPORTATION WISH LISTS: The City of Miami seeks ideas on transportation projects that a future multi-modal transportation impact fee could fund. The Office of Transportation has scheduled community outreach meetings as the city considers creating such a fee and wants input on potential projects that those funds might finance. Meetings will be 6:30 p.m. each day: Aug. 29, Coral Gate Park, 1415 SW 32nd Ave.; Aug. 30, City Hall Chambers, 3500 Pan American Drive; Aug. 31, Juan Pablo Duarte Park, 2800 NW 17th Ave. Details: Office of Transportation, (305) 416-1073.
NEW OFFICES RISING: Office space under construction in Miami-Dade County at the end of the year’s second quarter would add 2.4% to the overall office supply in the county when completed, according to statistics just released by the Cushman & Wakefield brokerage. The county now has over 46.6 million square feet of offices, the firm’s report shows, with and other 1.37 million square feet under construction. Of that construction, just 318,000 square feet is in the central business district. And during the first half of this year, the company lists just 20,000 square feet of office space completed, none on the central business district. In all, the county now has 466 buildings with office space tallied by the firm.
CLASS A SPACE GROWING: An even 100 of Miami-Dade County’s 466 office buildings are rated as having Class A space in a new report from Cushman & Wakefield brokerage. Of those A-rated buildings, 16 are in the central business district and 84 throughout the rest of the county. Those 100 buildings have a total of 20.7 million square feet of office space , just over 43% of the total office space in Miami-Dade – and all office space now under construction is also Class A, which will move the top level of office space closer to being half of all offices here. The firm says the leasing rate for Class A space in the central business district now averages $52.21 per square foot with Class A elsewhere in the county averaging $38.71.