Miami 2016 an In-Depth Review of the Key Issues Facing Miami-Dade’S Economy Featuring the Exclusive Insights of Prominent Industry Leaders
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Miami 2016 An in-depth review of the key issues facing Miami-Dade’s economy featuring the exclusive insights of prominent industry leaders Contents: 55 Affordable options: While the influx of capital into Miami- Dade’s luxury real estate segments continues, the need for affordable options is pressing 56 Viewpoint: Michael Wohl, Partner, Pinnacle Housing Group 58 Miami’s top producers 59 Construction: 60 Peak performance: Despite a strong dollar and a saturating condominium market, the industry saw high spending and much foreign investment 61 Viewpoint: Jeffrey Gouveia, President & General Manager, Southeast Region, Suffolk Construction 63 Viewpoint: Brad Meltzer, Southeast President, Plaza Construction 65 Interview: Stephen Owens, President, Swire Properties 67 Community building: Commercial structures in Miami- 13 Economy: 41 Real Estate: Dade are being designed to reflect a more collaborative work culture 14 Miami-Dade in numbers 42 Strong fundamentals: Rising 71 Heading north: Developers and 17 Map of Miami-Dade County domestic demand, steady buyers seek opportunities in international interest and a stable 19 Interview: Rick Scott, Governor, neighboring Broward County economy support Miami-Dade’s State of Florida diversifying real estate market 72 Viewpoint: Joseph Kavana, CEO, K 21 Interview: Carlos A. Gimenez, Group Holdings Mayor, Miami-Dade County 47 Interview: Carlos Rosso, President of Condominium Development, 22 High profile: All eyes are on The Related Group Miami-Dade 49 Interview: Edgardo Defortuna, 23 Viewpoint: Larry K. Williams, President & CEO, The Beacon President & CEO, Fortune Council International Group 31 Ready, set, grow: Miami-Dade is 50 Interview: David Martin, finding a place in the international President, Terra art market 51 Vibrant neighborhoods: Greater 34 Active citizenry: Greater civic density is building in Miami-Dade’s engagement is a mark of Miami- infill areas, which are seeing Dade’s growing sophistication big investments and dramatic 38 Roundtable: Marcelo Giusto, revitalization Consul-General of Argentina, Louise Leger, Consul-General of 53 Viewpoint: José Luis F. Melo, Canada and Ozgur Altan, Consul- Carlos F. Melo and Martin F. Melo, General of Turkey Directors, Melo Group www.capitalanalyticsassociates.com | 7 CONTENTS Contents: 75 Environment & Infrastructure: 76 Climate agenda: Miami-Dade is creating strategies to face environmental issues and ensure its infrastructure can sustain growth 81 Interview: Jose R. Mas, CEO, MasTec 82 Interview: Vincent Signorello, President & CEO, Florida East Coast Industries 85 Transportation: 86 Better connectivity: Investments in public transit and sustained growth in passenger air traffic bolster connectivity in Miami-Dade 94 Viewpoint: Kasra Moshkani, South 104 Smart trade: In the era of third- Florida General Manager, Uber party logistics, Miami-Dade is a 87 Michael Reininger, Viewpoint: leading market for the development President, Brightline 95 Green solutions: Conscious of of trade-related innovations environmental sustainability, 89 Viewpoint: Marilyn DeVoe, Vice 106 Pharma hub: MIA’s designation as county stakeholders are seeking President, American Airlines a pharma hub will boost air freight new transit solutions 90 Viewpoint: Gary J. Spulak, 107 Interview: Emilio T. González, President, Embraer Aircraft Director, Miami-Dade Aviation Holding, Inc. Department 91 Interview: Alice N. Bravo, Director, 97 Trade & Logistics: Miami-Dade County Department of 98 More volume: Expanded Transportation & Public Works infrastructural capacity, strong 109 Banking: 93 Innovating transit: Miami-Dade trade promotion and cutting-edge 110 Growing strong: Commercial turns to technology to address its innovations are boosting Miami- lending remains a key driver for traffic woes Dade’s trade and logistics sectors Miami-Dade’s banking sector, while consolidation trends continue to shape the landscape 111 Viewpoint: Jorge Salas, President & CEO, Banesco USA 112 Viewpoint: Israel Velasco, Florida Region Executive, Popular Community Bank 117 Interview: Antonio Cassio Segura, President & CEO, Banco do Brasil Americas 118 Interview: Margaret Callihan, President & CEO, SunTrust Bank South Florida 119 More consolidation: M&A trends will shape Miami-Dade’s competitive banking landscape in years to come 10 | Invest: Miami 2016 | CONTENTS CONTENTS 135 Viewpoint: Jeffrey Freimark, 147 Viewpoint: Juha & Johanna President & CEO, Miami Jewish Mikkola, Co-Founders, Wyncode Health Systems Academy 136 Viewpoint: Steven Sonenreich, 148 Interview: Dr. Mark Rosenberg, President & CEO, Mount Sinai President, Florida International Medical Center Miami Beach University 137 Viewpoint: Richard Ballard, CEO, 149 Gaining momentum: Miami- Sylvester Comprehensive Cancer Dade’s cultural diversity continues Center to shape K-12 schools and higher 139 Interview: George Foyo, education alike Executive Vice President & Chief 150 Roundtable: Eugene W. Anderson, Administrative Officer, Baptist Health South Florida Dean, University of Miami School of Business Administration, Jose M. 140 Mobile medicine: While local Aldrich, Dean, Florida International stakeholders explore telemedicine, University College of Business and state legislators weigh its potential Dr. Tomislav Mandakovic, Dean, benefits Barry University Andreas School of 142 Interv iew: Steven Altschuler, CEO, Business UHealth 121 Interview: Ernie Diaz, Florida Regional President, TD Bank 153 Retail: 143 Education: 122 Interview: Jorge Gonzalez, 154 Shopping haven: More investors President & CEO, City National 144 Exceeding standards: Miami is eye retail opportunities in Miami- Bank preparing students for the global Dade as the county continues to workplace develop a more complete “live, 123 Under management: As more work, play” experience wealth enters South Florida, new 145 Viewpoint: Alberto Carvalho, opportunities arise in the market’s Superintendent, Miami-Dade 155 Viewpoint: Carol Brooks, President thriving wealth management County Public Schools & Co-Founder, CREC industry 124 Interview: Joe Atkinson, South Florida Region President, Wells Fargo 125 Technology & Innovation: 126 Maturing ecosystem: High-profile events and increased venture capital are among the makers of growth in Miami-Dade’s tech hub 127 Viewpoint: Xavier Gonzalez, CEO, eMerge Americas 129 Viewpoint: Nabyl Charania, Co- Founder & CEO, Rokk3r Labs 133 Health: 134 Care for the future: Miami-Dade’s health sector continues on a growth trajectory even as it grapples with changing regulations www.capitalanalyticsassociates.com | 11 Contents: Miami 2016 ISBN 978-0-692-64476-8 Executive Director: Abby Melone Chief Financial Officer: Albert E. Lindenberg Creative Director: Nuno Caldeira Senior Writers: Eric Franqui Sarah Watson Writers: Christianna Bonin Carmella Guiol Irina Gusin Ali Jessani Cynthia Oka Kavita Ramakrishnan Pablo Ruiz Editorial Assistant and Senior Copy Editor: 157 Viewpoint: Oscar Feldenkreis, 171 Viewpoint: Eric Woolworth, Keren Moros CEO, Perry International President of Business Operations, Project Coordinators: The HEAT Group Nisha G. Cunningham 158 Viewpoint: Beverly Raphael, Stephen Kane 173 Viewpoint: David P. Samson, President & Co-Founder, RCC Steven Liu Associates President, Miami Marlins Photographer: 175 Adam Barrett, Director Viewpoint: Luis Arturo Mora / LAMphotos & IMG Executive Vice President, Invest: Miami is published once a year by Capital Miami Open Analytics Associates, LLC. Tourism: 159 177 Interview: Chris Bosh, Player, The For all editorial and advertising questions, please e-mail: [email protected] 160 Open for visitors: Miami combines HEAT Group To order a copy of Invest: Miami 2016, please e-mail: the traditional and innovative, 178 Moving to Miami: Beckham’s [email protected] the local and global, to open new journey to bring MLS to South All rights reserved. No part of this publication may be frontiers Florida reproduced, stored in a retrieval system or transmit- 164 Viewpoint: Robert Hill, General 180 Interview: Tom Garfinkel, ted in any form by any means, without the express Manager, InterContinental Miami President & CEO, Miami Dolphins written consent of the publisher, Capital Analytics Associates, LLC. 165 Interview: Arnold Donald, Whilst every effort has been made to ensure the ac- President & CEO, Carnival curacy of the information contained in this book, the Corporation 181 Legal: authors and publisher accept no responsibility for 166 Beyond beaches: An increasing any errors it may contain, or for any loss, financial or 182 Connecting markets: Miami- otherwise, sustained by any person using this pub- variety of attractions are Dade’s steady economic growth and lication. diversifying Miami-Dade’s tourism international appeal have resulted Capital Analytics Associates, LLC accepts no responsi- industry as well as its contributing in more diverse opportunities for bility for the return of unsolicited manuscripts and/or to its cultural offerings its legal industry photographs, and assumes no liability for products and services advertised herein. Capital Analytics Associates, 168 Viewpoint: William D. Talbert III, 190 Interview: Cesar Alvarez, Senior LLC reserves the right to edit, rewrite, or refuse material. President & CEO, Greater Miami Chairman, Greenberg Traurig, LLP Convention & Visitors Bureau 191 Directory: 169 Sports: 192 Hotels 170 Scoring goals: Successful major 193 Consulates league teams and outdoor sports continue to impact the local 194 Photo credits economy Thank you, Miami 12 | Invest: Miami