Coral Gables Update M AY 4, 2017
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- Lenard Neal
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1 Coral Gables Update M AY 4, 2017 R EALTORS C OMMERCIAL A LLIANCE OF M IAMI
2 ABOUT US Business Retention Business Expansion Business Recruitment Marketing & Events Research & Analytics Asset Management
3
4 OUR STORY A World-Class City with a Hometown Feel Coral Gables offers the comfort of a small city with a cosmopolitan feel. Designed from the outset as an international community, the physical and cultural landscape has been cultivated to reflect the vision of its master planner.
5 Quality of Life
6 A LIVABLE COMMUNITY Among best schools in Miami-Dade County Fully-accredited Police & Fire Community Programs and Activities
7 ARTS AND CULTURE
8 PRESERVING OUR HERITAGE 2506 Ponce de Leon Blvd.
9 A GREEN CITY Tree City USA, 30 years Tree Succession Plan Acquiring Green Space A society grows great when old men plant trees whose shade they know they shall never sit in. ~Greek Proverb
10 Tree City USA, 30 years Tree Succession Plan Lisbon Neighborhood Park
11 70,000SF of additional green space
12 The Underline (Rendering)
13 ALTERNATIVE TRANSPORTATION 3 Metrorail Stations Expanding Free Trolley Service o South of South Dixie Highway o Holidays Adding Bike Lanes Uber Freebee
14 Business is Beautiful!
15 CORAL GABLES PRIMED FOR BUSINESS Central: Near major markets and cargo hubs Smart: Highly educated multilingual workforce Global: Gateway to Latin America Connected: Near Verizon s Network Access Point Prime Office: Premium office market
16 CORAL GABLES STATS Avg. Household Income: $120,672 Unemployment Rate: 3% Median Home Value: $784,000 Bachelor s Degree: 60%
17 Home to 8,200+ Businesses & Top-Ranked Research University Go Canes! 17
18
19 Norway Catalonia Spain Monaco Italy Hungary Taipei Thailand Australia Belize St. Lucia St. Kitts & Nevis Barbados Colombia Peru Consulates and Foreign Government Offices From All Over the Globe
20 Real Estate Trends
21 REAL ESTATE MARKET: OFFICE Vacancy Rate: 8% Avg. Lease: $38.68 PSF st Quarter (CoStar)
22 REAL ESTATE MARKET: RETAIL Vacancy Rate: 1.4% Avg. Lease: $40.03 PSF st Quarter (CoStar)
23 REAL ESTATE MARKET: MFR Coral Gables Downtown/ Brickell Countywide Effective Rent Annual Growth $1,868 $1,666 $1, % 1.1% 1.8% Vacancy 6% 8.6% 6% st Quarter (CoStar)
24 Business Climate
25 STRONG FINANCIAL POSITION Reserves: 25% of operating budget Competitive Millage Rate of (2 nd lowest full-service municipality)
26 TRIPLE, AAA BOND RATING Coral Gables' 'AAA' "reflects the strength of its financial reserves, broad budgetary flexibility and prudent management that support an expectation for stable financial performance through economic cycles. Coral Gables' economic resource base is robust and underpins its credit strengths, particularly the affordability of long-term liabilities and favorable revenue growth prospects. Fitch Ratings
27 Development Projects
28 DEVELOPMENT PIPELINE: FOCUS ON BUSINESS DISTRICT 57 Commercial & Residential Projects 2,619 Residential Units 1.7 Million SF Commercial 646 Hotel Rooms
29 The Plaza Coral Gables (Rendering)
30 Giralda Place (Rendering)
31 Merrick Manor (Rendering)
32 2020 Salzedo Street (Rendering)
33 Aloft Hotel (Rendering)
34 Columbus Center Phase II (Rendering)
35 Gables Ponce III (Rendering)
36 Paseo de la Riviera (Rendering)
37 Gables Station (Rendering)
38 Lennar Foundation Medical Center UHealth
39
40 Building Beautiful
41 Miracle Mile (Rendering)
42 Miracle Mile pavers
43 Miracle Mile pavers
44 Giralda Avenue (Rendering)
45 Giralda Avenue Pavers
46 Giralda Avenue Pavers
47 PROJECT WEBSITE
48 Activating Downtown
49
50 JAZZ IN THE GABLES
51 WELLNESS WEDNESDAYS every Wednesday 6-7p.m.
52 MOVIES ON THE MILE
53 GIRALDA ALFRESCO
54 GALLERY NIGHT
55 Other Initiatives
56 DOWNTOWN RETAIL STRATEGY
57 DOWNTOWN RETAIL STRATEGY Chef-driven Restaurants Women s Apparel & Accessories Athleisure Home/Design
58 DOWNTOWN OVERLAY DISTRICT
59 PARKING GARAGE REDEVELOPMENT 245 & 345 Andalusia Ave. Ground Floor Retail Office Residential 1,000 Parking spaces
60 SUSTAINABILITY
61 It Takes A Village
62 Coral Gables Sales Team, 1923
63
64 YOU!
65 STAY IN TOUCH! Sign-up for Business Update: Go Mobile:Coralgables.com/cityapp Instagram: CityofCoralGables
66 Thank you Javier A. Betancourt
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