Miami Condo Market and Lifestyle Updates
Centro Lofts Offers a Unique Downtown Miami Residential Experience: A Carless Living Space

Centro Lofts Offers a Unique Downtown Miami Residential Experience: A Carless Living Space

by Sep Niakan | August 19, 2013

 

Recently entering its presale phase, the 37-story Centro Lofts condo tower in downtown Miami is drawing attention from more than its slim, checkered design profile. In an area so reliant on cars for business and recreational transit,Centro Lofts raises eyebrows thanks its blatant lack of a parking garage. But the target clientele of developer Newgard Development Group is different than the typical fare; the primary market for the Centro Lofts is the young, carless population who rely far more on mass transit, walking, and biking to get around.

 

The benefits of going parking-lot free are multifold. First, the lack of a parking garage helps to keep unit pricing low. In the case of Centro Lofts, the 352 units ranging from 500 to 1,100 square feet are priced from sub-$200,000 to $450,000. Second, avoiding a parking garage also cuts condo association fees up to 30 percent. Finally, alleviating the need to construct a parking lot and removing cars from project not only reduces the environmental footprint of the structure’s construction, but may also incentivize the production of further mass transit options.

Residents at Centro Lofts will be able to partake in a greener alternative to on-site parking: car rental through Car2Go. With Car2go, condo dwellers can rent cars by the hour and have easier access to the burgeoning downtown mass transit system. Public parking garages are also available should residents require the use of a car. A new bike-sharing program, Feel the Street at Your Feet, is also available to the area’s youthful, urban residents.

 

With currently about 180 units already reserved, sales officially began in April and has found interest with international buyers, local residents seeking a second home, and investors. In its quest to appeal to a younger set, interior design features include wired work stations throughout the building, a rooftop pool, and a selection of purpose-built social areas. 

 

Recent posts

Real Estate News

Luxury Miami Condo Report: Dec 2017 and 2017 Annual Report

by Sep Niakan | January 21, 2018

Miami Luxury Condo Market Summary City and Neighborhood Luxury Condo Reports              Miami Beach Luxury Condo Report                        ...

Real Estate News

Monthly Pre-Construction Update - December 2017

by Sep Niakan | January 17, 2018

Taking a cue from the New Year and new beginnings, we saw the condo pre-construction market make three ground breakings this December. After months of silence, there was finally some hustle from developers at Resorts World Miami. Ritz-Carlton...

Lifestyle

Cheers to a New Year and New Beginnings…

by Sep Niakan | January 05, 2018

Welcome to the other side of the New Year! The side that’s made up of fresh energy, brand new ideas and a whole 365 days of infinite possibilities.   A lot of people consider January to be the month when the festive season and all its...

Lifestyle

Events for a Joyful January in Miami

by Sep Niakan | December 31, 2017

The Holiday season may be over, but the festivities don’t have to stop if you’re in Miami. Take a pick of your favorite music, art, fitness or film festival below and let the merriment continue into January 2018.   Miami Cruise...