Miami’s high-end real-estate market has drastically slowed in the past several years, as the Latin American buyers who led a frenzy of postrecession purchases have all but disappeared. South American economies that were roaring in the early years of the decade, including Brazil, Argentina and Venezuela, are now facing severe economic distress, which has devalued their currencies and left purchasers from those countries with far less buying power in the U.S. — wsj.com

One Thousand Museum Residences, the Zaha Hadid-designed skyscraper in downtown Miami, received its temporary certificate of occupancy and will begin closings as early as next week [...]

Developers Louis Birdman, Gilberto Bomeny, Gregg Covin and Kevin Venger, along with the late Zaha Hadid, broke ground on the 62-story, 84-unit luxury condo tower at 1000 Biscayne Boulevard in December 2014. — The Real Deal

A plan for the future of the historic Little Havana neighborhood was released Tuesday after two years of preparation. The "Little Havana Me Importa" effort launched in 2017 after the neighborhood was named a national treasure by the National Trust for Historic Preservation. Since then, more than 2,700 residents have given their input about the future of their neighborhood through workshops and surveys. The collaboration is being led by PlusUrbia, the National Trust and private sector developers. — wlrn.org

Fifteen months ago the Miami City Commission shot down a recommendation to make the Babylon, the first multifamily building designed by renowned Miami firm Arquitectonica (and its second project ever), a historically protected building.

As a result, the 37-year-old Babylon [...] will be demolished sometime before July. — Biscayne Times

Big changes will be coming to Miami International Airport over the next decade or so to meet the demands of the future.

On Tuesday, the Miami-Dade commission approved a capital improvement plan for the airport which would fund up to $5 billion in modernization projects over the next five to 15 years.

The changes are needed as MIA is projected to reach 77 million travelers and more than four million tons of freight by the year 2040. — CBS Miami

Facing lawsuits from a collapsed bridge it helped build, Munilla Construction Management is asking a bankruptcy judge to protect it from creditors while borrowing millions of dollars to make payroll, continue building and not shut its doors after decades as one of South Florida’s largest government contractors. — Miami Herald

In Florida, you will see a bewildering mix of optimism, opportunism and denial in the real estate market: luxury condominiums going up in flood-prone South Beach, and property values rising in the vulnerable Keys, post-Hurricane Irma. And though the House of Representatives passed a bill to require real estate agents to disclose flood risks, the Senate has not reviewed it, and a culture of “systemic, fraudulent nondisclosure” persists in high flood risk areas. — The Guardian

As Art Basel kicks off this week in Miami the city has a new listing to boast about that comes with everything you would expect for the highest-priced penthouse in the area right now: a celebrity architect, more square footage than its competitors, ocean views that go on forever and, of course, an unusual luxury amenity... — Forbes

Miami’s newest wave of designs could be its most ambitious yet.

Fitting for a place that cherishes A-listers, virtually every celebrity architect in the world, and many rising stars, have built there in the last decade. The big names include Frank Gehry, Rem Koolhaas, Zaha Hadid, Herzog & De Meuron, Grimshaw, César Pelli, Richard Meier, Arquitectonica, Rafael Moneo, Jean Nouvel and Bjarke Ingels. The impressive results are scattered citywide, from Miami Beach to the thriving Design District. — The New York Times