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The Doral City Council, located in Miami-Dade County, approved the ambitious project by the Trump Organization to develop a luxury condominium complex at Trump National Doral.
This development, valued at 3 billion dollars, will transform part of the iconic resort complex, which already includes a hotel and four golf courses, into an exclusive residential and commercial destination.
The voting, held on Wednesday, was unanimous with a 4-0 in favor of the project. Eric Trump, executive vice president of the organization, was present at the meeting and described the approval as an important milestone. "We are building something that everyone will be incredibly proud of," he stated.
Miami Herald announced that the plan includes four 20-story towers that will house 1,498 residential units, 470 hotel units, and more than 141,000 square feet of commercial space.
This redesign, which significantly reduces the number of units from the original project, will also incorporate road improvements on the busy Northwest 36th and 87th avenues to facilitate access to the development.
Although the project focuses on a luxury market, with prices starting at $2 million per unit, local authorities from Miami-Dade County, including Doral's mayor, Christi Fraga, emphasized that this type of development complements efforts to balance the housing inventory in the region.
Fraga dismissed the criticisms regarding the project's potential connection to the affordable housing crisis and emphasized the importance of attracting high-end buyers from outside the state, particularly from cities like New York.
The project promises to generate significant economic benefits for Miami, with estimated annual revenue of $6 million for Doral and an additional $11 million for the county from the sales of residential units.
The works, which will not affect the golf courses of the complex, will begin once Donald Trump completes his presidential term. This development solidifies Miami's status as a center of luxury and exclusivity, attracting investments that reinforce its position as one of the most sought-after destinations in South Florida.
Frequently Asked Questions about the Trump Luxury Condominiums Project in Doral
What does the new project of the Trump Organization in Doral include?
The Trump Organization's project in Doral includes the construction of a luxury condominium complex, which will feature four 20-story towers. These towers will host 1,498 residential units, 470 hotel units, and more than 141,000 square feet of commercial space.
What is the total value of Trump's project in Doral?
The Trump Organization's project in Doral is valued at 3 billion dollars, making it an ambitious real estate development in the area.
How will Trump's project affect the local economy of Miami-Dade?
The project promises to generate significant economic benefits for Miami, with estimated annual revenues of 6 million dollars for Doral and another 11 million for the county, derived from the sales of residential units.
When will the construction of Trump's luxury complex in Doral begin?
The luxury project works by Trump in Doral will begin once Donald Trump finishes his presidential term. This timeline has been established so as not to disrupt the current operations of the complex, including its golf courses.
How does this development position itself within the context of the luxury real estate market in Miami?
The development reinforces Miami as a center of luxury and exclusivity, attracting investments that strengthen its position as one of the most sought-after destinations in South Florida. Furthermore, this project is part of a boom in high-end developments in the region.
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