From transformative housing projects to skyline-defining towers and stalled mega-developments, Miami’s real estate market is surging with change. Here’s your curated breakdown of nine key headlines from the past 30 days that highlight the forces reshaping South Florida’s urban future.
1. Miami OKs 4,000-Unit ‘Live Local’ Housing Project
Miami-Dade officials have approved “The HueHub,” a record-setting 4,032-unit development featuring seven 35-story towers in West Little River. Valued at $880 million, the project by Spanish developer Pablo Castro will deliver furnished, attainably priced apartments for moderate-income earners under Florida’s Live Local Act incentives.
2. Miami Leads U.S. in New Apartment Construction
With 7,257 multifamily units permitted in the last 12 months, Miami tops all U.S. metro areas for new apartment approvals. The pace is accelerating—developers broke ground on over 1,100 additional units in Q2 2025, signaling renewed momentum in the city’s rental housing sector.
3. Foreign Buyers Snap Up New Miami Condos
Nearly half of the 5,460 new construction condos sold in South Florida since 2024—about 2,688 units—have gone to international buyers, primarily from Latin America. Analysts warn this surge is pricing out many local and U.S. buyers, pushing Miami’s condo market further into global luxury territory.
4. Jungle Island Redevelopment Moves Forward
After years of setbacks, Miami commissioners approved Terra and ESJ Capital’s plan to redevelop Jungle Island on Watson Island. The deal includes acquiring 5.4 city-owned acres for a 600-unit luxury condo tower, plus commitments to a $37 million public park and $47 million toward affordable housing and other city initiatives.
5. Miami Greenlights Transit-Hub Zoning Overhaul
City leaders approved new Transit Station Neighborhood Development (TSND) zoning rules, allowing taller, denser mixed-use projects near Metrorail and Metromover stations in exchange for public benefits such as parks and affordable housing. The move is designed to accelerate transit-oriented development across the urban core.
6. Developers Eye Expansion Beyond Urban Boundary
A group of developers is seeking to push Miami-Dade’s Urban Development Boundary (UDB) outward by 65 acres to build a 1,200-home community with retail space. The proposal faces intense environmental pushback as the UDB was designed to limit sprawl into farmland and the Everglades, requiring a super-majority vote to pass.
7. $4B ‘American Dream’ Mega-Mall Stalls
The highly anticipated 6-million-square-foot American Dream Miami mega-mall remains stuck in limbo. Featuring an indoor ski slope, water park, and 2,000 hotel rooms, the $4 billion project has been delayed by lawsuits and infrastructure hurdles, missing its original 2022 opening date with no restart in sight.
8. Miami’s Future Tallest Tower Rising
The Waldorf Astoria Hotel & Residences in Downtown Miami has surpassed its 25th floor, with glass cladding now visible on its signature stacked-cube design. When completed, the 100-story, 1,049-foot skyscraper will be Miami’s first “supertall” and the tallest building on the skyline.
Stay Ahead of the Curve in Miami Real Estate
From affordable housing megaprojects to skyline-altering towers, these developments signal where the city is headed next.
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