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- Dec 22, 2011
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There are interesting precedents and articles regarding sports venues in real estate development. "Mixed use sports developments position themselves as truly year around destinations". "Incorporating hotels, offices, apartments, event spaces and developing a best in class neighborhood". One Daytona is somewhat similar ... adding residential units (apartments / condos) to the shopping, restaurant, hotel, and event venues initially established across from the Speedway. Miami, being an international tourist mecca, could certainly take it up a notch.
Absolutely correct.
And since I worked on One Daytona, I can tell you that there are PROPERTY TAX advantages to doing a mixed-use development.
These kinds of sport-centric mixed-use developments have changed the discussion, all over the country.
Except in South Florida, where stubborn heel-draggers continue to be resistant to tearing down 75 year old roach-infested buildings unless the replacement is a mansion or a high-rise condo.
Only in South Florida do you see the pearl-clutchers who act as if ancient 3-story concrete-block crapartments should be historical protected architecture, as well as the answer to affordable housing.