“All Aboard Florida” Means New Downtown Miami Commercial Real Estate Stimulus
Did you know over 50 million people travel between South Florida and Orlando each year for business or pleasure? Mix in those who travel within the tri-county South Florida market – which plays host to some of the state’s largest cities – and the numbers expand exponentially. With so much consumer activity, the area could use a more efficient mode of travel. Thanks to All Aboard Florida, it will soon have it.
By investing over two billion dollars in a new high-speed rail service, Florida East Coast Industries (FECI) isn’t just bringing clean, efficient, cost-effective transportation to south Florida; it’s making a huge Miami commercial real estate investment that has businesses lining up to take advantage.
All Aboard Florida will invest about $320 million on the development of commercial real estate as part of its train service. There will be entertainment venues, hotels, retail and offices throughout, bringing great opportunities for companies that want to take advantage of a rapidly expanding marketplace.
According to the most recent U.S. Census, 36 percent of Florida’s 19.32 million residents live in Palm Beach, Miami-Dade, Orange and Broward counties, and more than five percent of all Florida residents live within only five miles of the proposed stations.
As a Miami Commercial real estate broker, I’m excited for the chance to connect clients with some truly alluring opportunities. That said, from my perspective, this new rail service isn’t just about increasing the amount of downtown Miami commercial real estate. It’s about making my city a better place.
I think All Aboard will be an amazing addition to the infrastructure of the city. Often, I have guests who want to make the trek up to Orlando to visit the amusement parks. The current option of driving 4 or 5 hours isn’t very appealing, and flying back and forth doesn’t seem to save much time. The All Aboard solution seems absolutely perfect.
I’m a huge fan of trains for traveling city to city. And I’ve been on some of the best in Japan, Russia, France and Germany. This is another giant step ahead for the City of Miami and the State of Florida as a whole.
All Aboard Florida isn’t just about connecting Orlando and Miami by rail, it’s a huge bet on Downtown Miami. With stops in Ft Lauderdale and West Palm Beach, I think this is sure to be a valuable addition to our downtown residential community. As I go forward with the Sky Five Properties Miami commercial real estate blog, I’ll continue to profile intriguing new developments that have investors and residents excited about the area.
Developers, feel free to contact me to discuss a platform I have to capitalize on the economic expansion that the All Aboard project will provide.