In the heart of Miami’s coastal charm, North Bay Village is gearing up for a remarkable transformation. At least 10 new real estate development projects are in the pipeline for the island community, each of which has received Commissioner Andy Daro’s approval with enthusiasm.
Daro believes the future new development marks the beginning of an exciting new chapter for North Bay Village. From residential towers to mixed-use spaces, these projects are promising not just a change in the skyline but a positive impact on the lives of its residents.
A Beautiful City of the Future
The vision for North Bay Village extends beyond all the fancy new developments which will undoubtedly bring more luxury residential towers to the island. However, as it strives to evolve into a stunning city of the future, the city has also been investing in becoming a more sustainable waterfront community, replacing aging structures with new, vibrant areas.
Talking about his pro-development stance, Daro says,
“I always support new development, bringing luxury, and increasing property value for our community’s benefit.“
The vision for the cityscape is characterized by high-end developments that not only enhance aesthetics but also elevate property values, taxable income, and overall prosperity for the community. With these ten new real estate development projects finally approved, the island city is poised to become the newest gem in Miami.
The Properties and the Future Vision for them
Currently, the properties are either completely undeveloped raw lands or deteriorating buildings, affordable for developers to purchase, revitalize, and transform into new establishments. The City’s Mayor and Commission, the developers, and several stakeholders have gone through multiple detailed discussion sessions and made meticulous considerations to get approval for the particular sites. Navigating the process, Daro highlights the intricacies, stressing that the approved sites are mostly influenced by private transactions and investor preferences. Many of these areas boast waterfront access, presenting unique opportunities for visionary development and strategic investment.
The ten projects can be seen in the picture.
Although the majority of the areas are to develop luxury residential buildings, plans for 79th Street Causeway present a harmonious blend of residential and commercial elements. Although mainly intended for housing, these projects incorporate ground-floor supermarkets and restaurants, featured in certain buildings. This mix not only enhances the quality of living for residents but also contributes to the economic vitality of the community.
The Development Code for the projects
The development code for North Bay Village serves as the guiding framework, ensuring that the approved projects adhere to specific requirements, such as the number of units per acre and the incorporation of green spaces. This approach ensures developments align with the needs and preferences of the local community.
Daro explains, “Balancing progress with community needs is difficult, and yet, the most important part for development. That is why the development code has been carefully curated by city commissioners and planners over the course of the last four to five years. The city has a charter with the development code on public record that all developers must follow, or seek variance for good reason.”
Timeline and Stipulations: Navigating the Development Process
Development timelines are dynamic and influenced by private factors like securing financing. While one project began last year and two more may start in 2024, aligning private companies and government projects seamlessly, along with setting strict deadlines, is a complex process. However, one particular project – Shoma Bay, being the harbinger of commercial amenities to the neighborhood with the likes of a Publix supermarket and Shoma Bazar food court, has been provided with special incentives with reduced fees to kickstart construction promptly this year.
Building a City for Everyone
The primary goal for these projects is to build a city in North Bay Village that realizes its full potential, benefiting everyone who resides there. Despite the emphasis on luxury, the approved developments serve the entire community, not just the affluent.
Commissioner Daro clarifies, “The money a government gets isn’t always sufficient to run a whole city. So, besides squeezing more taxes out of folks, the only other real option is to invest, especially in real estate. When property values go up, the profits can pump up the budget. That extra cash goes into making our city better — better roads, schools, police departments, fire departments – all public services benefit from this.”
Moreover, the development code for North Bay Village requires developers to contribute to a fund supporting workforce housing if they want to increase project density beyond the code limits. This ensures inclusivity for all residents in the area.
A Unique Collaboration: The Argentine Football Association Project
One noteworthy project that deserves special mention here is the collaboration with the Argentine Football Association. This exciting partnership between the Association and North Bay Village guarantees the establishment of a top-notch sports training facility for soccer as well as other sports on school grounds. The field will be open for residents and school kids during school hours, and afterward, the Argentine Football Association will operate its soccer academy on the premises. Construction is expected to start by year-end, transforming the currently underdeveloped space into a world-class soccer training facility. This public-private venture not only enhances community facilities but also aligns with the upcoming 2026 World Cup that will be hosted in the United States.
As North Bay Village emerges as a real estate hotspot, Commissioner Andy Daro‘s dual role as a real estate professional and a government official exemplifies the potential synergy between these domains. The mission to craft a vibrant community resonates in each greenlit project, heralding North Bay Village’s renaissance. With The Daro Team at the forefront, the island city is set to become a brilliant example of a harmonious union of progress and prosperity.
