The Miami Chamber of Commerce organized an event last night 4/12/2016 at the Sales Center for the upcoming luxury development One River Point.
The round panel discussion included Kar Properties developer of One River Point- Mr. Shahab Karmely, Swire Properties president Stephen Owens and MiamiDDA director Alyce Robertson were they talked about their ground-breaking, innovative real estate projects and how they are impacting downtown Miami.
Mr. Shahab Karmely commented he’s not worried about any cycles in the Miami Real Estate market, and that he plans to build a great project where he would love to live in himself. One River Point is a luxury 60 story condominium with it’s own private club, Sky Villas, Bars and Restaurants, with prices starting in the $750,000’s.
The trio shared stories on their impressions of Miami when they first visited, which were not particularly praising for Miami at first, but admitted they love Miami the way it is now and only see room for growth.
Questions were asked about their thoughts on the recent Panama Papers scandal, Stephen Owens mentioned it’s impact in the Miami Real Estate market it’s close to none and that while they aren’t selling as many units at Brickell CityCentre as they were 2 years ago when they first started, but now they are selling an average of 10 units a month instead of 40 for the past year which he believes is healthy.
Overall these developers don’t seem too worried about a surplus of inventory in Miami and are committed to keep building and investing in this wonderful city.