Cash-strapped Miami to get skyscraper-height billboards

[SKYMTL]

I was thinking: only $2 million in fees!?

 

 

 

Miami commissioners passed one of the most controversial zoning issues in years Thursday, when they voted to allow developer Mark Siffin to erect a pair of electronic signs almost 500 feet high that will tower over downtown.

 

The two-hour discussion -- filled with speeches from union representatives for the project and residents opposing it -- came down to money.

 

In the end, commissioners voted 4-1 to allow the towers, a parking garage and, ultimately, a retail center, on Biscayne Boulevard next to the Arsht Center, because it means millions of dollars in new revenue for the cash-strapped city.

 

Commissioners Marc Sarnoff, Wifredo Gort, Richard P. Dunn II and Francis Suarez voted in favor. Commissioner Frank Corollo voted against the measure.

 

Miami will receive more than $2 million a year in fees and another $800,000 annually will go into a trust for a museum park, a planned showcase for Bicentennial Park that is struggling to come up with cash.

 

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[pedepy]

i wonder how much miami will loose in devalued property taxes? ..

 

anyway, can't comment on the project itself since i'm not familiar enough with it's proposed location, but miami is an odd town at times and such a thing may not necesserily be out of place.. but, 500 ft? damn.. thats one hell of a billboard!

 

can't imagine what would be heritage montreal's reaction to something like that!.. anaphylactic shock, probably...

[elketeigen]

i wonder how much miami will loose in devalued property taxes? ..

 

anyway, can't comment on the project itself since i'm not familiar enough with it's proposed location, but miami is an odd town at times and such a thing may not necesserily be out of place.. but, 500 ft? damn.. thats one hell of a billboard!

 

can't imagine what would be heritage montreal's reaction to something like that!.. anaphylactic shock, probably...

 

Hrm. I used to live in Miami. As far as property values go, at this point they really couldn't go much lower before they start giving condos away (in comparison to before the crash). I think it'll be another decade before home prices start to rise and become a good investment again.

[JFrosty]

It would be the 7th or 8th tallest... building (?) in Montreal! About as high as Complexe Desjardins!

[jesseps]

Only $2mil + $800k in a trust. $2.8 mil per year wont really save Miami.

 

As for real estate, if you want cheap. Check out Vegas. I found a place near a major hotel. The unit $75,000 and it use to be $700,000 years back. It might be a short sale, but I am not sure. Seeing it didn't say anything about that. True, Vegas is no week long vacation spot like Miami.