As waterfront land dries up, developers rush to Miami River

 

The Miami River — once a polluted, industrial backwater known as a favored route for smugglers — is today teeming with developers who want to build on what is practically the city’s last remaining waterfront land.

“It’s the new waterfront for Miami,” said Nelson Stabile, a principal at the developer Integra Investments, which invested in two vacant river lots during the recession and flipped them at a profit of more than $21 million last year. “If you want to be near the urban core of Miami, it’s becoming impossible to find waterfront properties.”

Read more at the Miami Herald.