FYI Miami: January 4, 2018
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.
CONSTRUCTION STARTS GAIN: The value of construction starts in South Florida rose 7% in November from November 2016, reaching almost $612 million, Dodge Data & Analytics reported. The single-digit gain masks a 55% rise in purely nonresidential starts to more than $321 million in Miami-Dade, Broward and Palm Beach counties, while residential starts continued a double-digit decline of 21% to over $290 million. For 2017 as a whole for the first 11 months, total construction starts were off 7% for the area, with nonresidential starts up 32% and residential starts tumbling 31%.
AIR FREIGHT GROWING: Freight tonnage handled at Miami International Airport has risen 2.55% through November for the 2017 calendar year, statistics released by the airport show. Domestic tonnage has risen 4.3% and international tonnage has gained 2.29%. International freight is by far the larger of the two categories, with nearly 1.58 million tons handled during the first 11 months of the year versus less than 243,000 tons of domestic air freight. In both categories, slightly more tonnage of air freight is unloaded here than the amount we send the other direction.
GEM OF A SITE: The Miami Beach Jewelry & Watch Show won’t be holding its second edition on Miami Beach at all – it’s moving across causeways to prime land where Malaysian casino firm Genting once touted the world’s largest casino development. The show this year will move from the Deauville Beach Resort on Miami Beach, where it debuted last year, to the spot that formerly housed the Miami Herald at 1 Herald Plaza in the Omni Area, directly between the Venetian and MacArthur causeways linking the mainland to Miami Beach. The show will be in a tent area built for Art Miami and Context, two major shows of just-concluded Art Week Miami. Show dates are Feb. 1-4; the producer is the Palm Beach Show Group. The site is destined to soon become a Genting-owned marina, pending negotiations now going on for state submerged lands just offshore.
LITTLE HAVANA GETS HEALTH BOOST: The Miami City Commission has accepted $144,375 from the Health Foundation of South Florida for the 2018 program year and $151,594 for the 2019 program year for the administration and coordination of the Live Healthy Little Havana Initiative. In 2014, the foundation launched an initiative aimed at strengthening community capacity to collaboratively plan and collectively carry out strategies to improve health. The foundation selected Little Havana to invest up to $3.75 million over six years, and since 2016 the City of Miami has been responsible to administer and coordinate the Live Healthy Little Havana Initiative to ensure broad, multi-agency and resident representation in the program