Florida-based Insurers Turn First Underwriting Profit Since 2015
After nearly a decade of financial turbulence, Florida’s property insurance market is showing signs of stabilization. In 2024, the state’s personal property insurers reported a collective underwriting profit of $206.7 million — the first since 2015 — marking a significant turnaround for an industry that has faced years of losses due to hurricanes, litigation, and escalating costs.
This positive shift is largely attributed to legislative reforms enacted in 2022, which curtailed excessive litigation and attracted new insurers to the market. The resulting increase in competition and capacity has begun to moderate premium hikes, offering a more stable environment for homeowners and investors alike.
For the Miami real estate market, these developments are encouraging. Stabilizing insurance costs can enhance buyer confidence and affordability, potentially revitalizing demand in a market that has been challenged by high premiums. As the insurance landscape continues to improve, Miami’s real estate sector stands to benefit from increased activity and investment.
While challenges remain, including the ongoing risk of severe weather events, the recent profitability of Florida’s insurers suggests a more resilient market moving forward. This newfound stability could herald a period of growth and opportunity for Miami’s real estate industry.
Foundation Pour Completed for JEM Private Residences at Miami Worldcenter, Marking Major Construction Milestone
Vertical construction is officially underway at JEM Private Residences, the highly anticipated 67-story luxury tower rising at 1016 Northeast 2nd Avenue in Downtown Miami. On May 30th, general contractor Coastal Construction completed the massive foundation pour, a major milestone that signals the start of vertical development for one of the most iconic projects within the Miami Worldcenter district.
The pour began at 9:00 p.m. and continued through the night, lasting approximately 18 hours. It involved 8,400 cubic yards of concrete transported by 840 truckloads—an extraordinary logistical feat that reflects the scale and ambition of the project.
Designed by Arquitectonica with interiors by Rockwell Group and landscape design by ESDA, JEM Private Residences will soar over 700 feet into the Miami skyline. The building will house 278 luxury condominiums beginning on the 43rd floor, each offering wraparound terraces and sweeping views of Biscayne Bay and Downtown Miami.
Setting a new benchmark for elevated urban living, JEM will feature an expansive amenity suite on its 50th floor. Residents will enjoy a Sky Lounge, a 60-foot outdoor pool with sweeping vistas, a state-of-the-art boxing arena, yoga patio, and a full spa suite complete with a Himalayan salt room, sauna, and steam room. Other amenities include co-working lounges, private dining areas, a game lounge, and a curated spirits tasting room.
The architecture embraces a resort-like atmosphere with flowing, wave-inspired forms and organic textures that emphasize natural light and indoor-outdoor harmony.
Slated for completion in Q4 2027, JEM Private Residences continues to shape the future of luxury living in Miami. OneWorld Properties serves as the exclusive sales and marketing partner for the development.
Whole Foods Set to Open in Edgewater this Month
After years of anticipation and heavy traffic treks to Brickell, residents of Edgewater, Midtown, and the Miami Design District can finally rejoice—Whole Foods Market is opening in Edgewater on Thursday, June 26. Located at 2910 Biscayne Blvd at the base of the brand-new Nema Miami development, this 53,400-square-foot store is more than just a grocery stop—it’s a celebration of Florida flavor and local pride.
Designed to reflect Miami’s tropical vibrancy, the store features bold colors, lush plant life, and native bird motifs, all woven into an immersive shopping experience. But what truly sets this Whole Foods apart is its deep commitment to local sourcing. Across every department, over 130 Florida-based vendors are represented, offering more than 500 locally crafted products—from Keys Fisheries spiny lobster tails and EcoRipe lychee to Zak the Baker pastries and 5150 Chocolate Co. bars.
Food lovers will appreciate the Cuban-style coffee bar serving café con leche and cortaditos, a bakery featuring treats from beloved Miami brands like Bunnie Cakes, and a prepared food section dishing up Sushi Maki rolls, fresh pizzas, and made-to-order sandwiches. The craft beer aisle is equally hyper-local, featuring brews from Tripping Animals, Prison Pals, and Green Bench Brewing among its 240 curated selections.
To celebrate its opening, Whole Foods is rolling out the red carpet for the first 300 customers with limited-edition totes and “Secret Saver” cards offering up to $100 in discounts. Guests can also enjoy complimentary coffee from Wells Coffee and pastries from Zak the Baker in the morning, followed by free Gelatys gelato pops in the afternoon.
Whole Foods is also giving back to the community through its Nourishing Our Neighborhoods program, donating food to The Caring Place and supporting local nonprofits like Urban Oasis Project and Lotus House.
Whether you’re in it for the hyperlocal fare or the morning cortado, the Edgewater Whole Foods promises to be more than a grocery store—it’s a new neighborhood staple.
LIVWRK Unveils Visionary High-Rise Community in Wynwood Arts District
A bold new chapter is on the horizon for Miami’s Wynwood Arts District. LIVWRK, a Brooklyn-based developer known for forward-thinking urban projects, has submitted plans for a massive mixed-use development that will bring the area’s first high-rise towers to life. Designed by MKDA, the proposal—dubbed LIVWRK Wynwood—calls for three striking 45-story towers reaching 465 feet in height.
Located at 2400–2418 North Miami Avenue, the project spans an impressive 1.81 million square feet. It replaces a previously approved mid-rise plan and utilizes Florida’s Live Local Act to surpass local zoning height limits, enabling increased residential density in exchange for much-needed workforce housing.
In total, LIVWRK Wynwood will introduce 1,363 new residential units to the neighborhood. Notably, 529 units—representing 40% of the total—are earmarked as workforce housing. This includes all 494 studios and 35 one-bedroom units, which are expected to rent for approximately $2,800 per month. Residences will range from 453 to 1,306 square feet and offer a range of floor plans from studios to three-bedroom layouts.
At the base of the towers, an expansive parking and amenity podium will house 912 parking spaces and over 88,000 square feet of retail and shared amenities. Each tower will feature dedicated amenity decks on the ninth floor, along with lounge spaces on the 29th floor, offering elevated city views and recreational experiences.
The architecture, according to MKDA, embraces Wynwood’s artistic roots and industrial texture. The façade will feature raw materials like exposed concrete, perforated metal, and loft-style window frames, blended with lush green elements and art-driven details. A landscaped paseo will slice through the site, prioritizing pedestrian movement and linking NW 24th Street, NW 25th Street, and North Miami Avenue.
Carefully planned for walkability and community engagement, the ground level will be activated with retail, art installations, and widened sidewalks. Entry points will be recessed to create inviting alcoves, and murals will bring the street frontage to life. Meanwhile, the parking garage will be fully wrapped by occupied space on the lower floors to ensure an attractive and seamless pedestrian experience.
Balconies will vary in openness and rhythm, especially at higher floors, to allow natural light and airflow throughout the towers. The podium and upper levels will serve as platforms for large-scale sculptures, bringing a curated, gallery-like dimension to daily life for residents and visitors alike.
As one of the most significant proposals filed under the Live Local Act, LIVWRK Wynwood not only seeks to redefine the district’s skyline but also to create an inclusive, vertically integrated neighborhood that reflects Miami’s evolving urban identity.
