Venetian Islands Ready for Improvements
The Venetian Islands are due for some significant improvements on their main thoroughfare, the Venetian Causeway. According to a report issued this week from the Florida Department of Transportation, the oldest causeway in Florida is in bad shape. The bridge inspection report stated that out of the 12 bridges connecting the islands, all twelve are in need of repair or a complete replacement. Ten of the bridges in the report were listed as ‘functional obsolescent’, a catchy real estate term for old and outdated. There were already plans in place for repair of a segment of the Venetian Causeway, but the new news reveals a much more extensive undertaking.
Now, Venetian Islands residents shouldn’t worry too much. The FDOT knows what they are doing. There will no doubt be an organized plan in place that will tackle this large project in manageable pieces. And it’s actually good news that studies are being done and actions are being taken, rather than no action at all. When all is said and done, it should make the amazing real estate located on the Venetian Islands even more safe and valuable.
Causeway Name Change
The new attention surrounding the Venetian Islands has led the community to propose further changes. Residents within the community feel the current name, Venetian Causeway, doesn’t suit the feel of the exclusive neighborhood. After all, Venetian Islands homes are some of the nicest in all of Miami. In general, Venetian Islands real estate is beautiful, exclusive and expensive. The residents exercising along the causeway in the mornings just love the quaint secluded feel, while still being steps away from the rest of South Beach. A new name of Venetian Way has been proposed as something more suitable for the community. I tend to agree with the premise. Causeway titles should be reserved for larger three lane highways that stretch across vast amounts of water. Venetian Way has my vote.
Demand for Venetian Islands Real Estate
Previously, Miami-Dade County approved a budget of $10million to repair the westernmost Venetian Causeway bridge connecting downtown Miami to the Venetian Islands. The repairs were set to begin this fall and take six to ten months for completion. Things have now changed quite a bit. The total project may now take several years. So, how will this news affect Venetian Islands real estate values? My short answer is…values shouldn’t be affected too much by this unexpected news. Although the bridge repairs will no doubt be an inconvenience, Miami luxury waterfront real estate is booming. Demand is extremely high with international cash pouring in from all over the world. Anyone buying a home on the Venetian Islands should be thinking of their investment as a trophy, long-term investment, not a quick flip. With time, the project will be completed and the Venetian Islands will be looking better than ever for decades to come.