1663-32 Art Deco/Preservation Buildingboom
setting
n records
in Miami Beach
Zoning changes, upturn
in economy spark plans
By MARILYN ADAMS VIGQ0D ,/1 b/4i f
Herald Business Writer
Miami Beach is in the midst of its hottest devel-
opment boom in 40 years. •
From Millionaires Row on Collins Avenue to
the funky charm of South Beach, building and ren-
ovation plans are setting records.Current plans call
for the construction of nearly 2,500 new condomin-
ium units and town homes in at least 10 new pro-
jects and the renovation of hundreds more units.
"What we have is an extraordinary renaissance
of Miami Beach,"City Manager Roger Carlton said
Friday.
City records show that permits for new construc-
tion and renovation worth $232 million were
issued last year. That is up from $50 million the
previous year and double the$135 million issued in
1988-1989, the busiest recent years.
The real estate development boom comes at a
time when several forces are converging.
The South Florida economy is on the upswing.
Real estate prices here seem reasonable to foreign-
ers when compared with Southern California or
Europe.The revitalization of South Beach has cap-
tured people's imaginations. Financing for con-
PLEASE SEE MIAMI BEACH, 22A
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