🗓️ North Bay Village Monthly Report – February 2025

🏛️ Politics & Governance

On February 12, 2025, the North Bay Village Planning & Zoning Board held a regular meeting to discuss upcoming developments and zoning considerations. The meeting focused on aligning new projects with the village’s strategic vision for sustainable growth and community enhancement. northbayvillage-fl.gov+3miamidade.gov+3northbayvillage-fl.gov+3

💼 Economic Outlook

North Bay Village’s economy continues to show resilience amid broader market fluctuations. Local initiatives and community engagement have played a pivotal role in sustaining economic activity and fostering a supportive environment for businesses.

🏗️ Construction & Development

Significant construction projects progressed in February:

  • Isle of Dreams: A shoreline development review application was submitted for this 39-story mixed-use tower planned at 1400 79th Street Causeway. Developed by Sunbeam 1400, LLC, and designed by Arquitectonica, the project marks the first phase of the Sunbeam NBV Special Area Plan (SAP). floridayimby.com

  • Shoma Bay: Construction commenced on this landmark waterfront condominium, which will bring 333 luxury residences, including 10 penthouses, to the area. Slated for completion in 2026, this development signifies a significant addition to North Bay Village’s skyline. shomagroup.com

🏘️ Real Estate Trends

The housing market in North Bay Village experienced notable activity:

  • Median Home Value: As of February 2025, the average home value stood at $400,995, reflecting a 6.1% decrease over the past year.

  • Market Dynamics: Homes sold for a median price of $305,000, down 39.0% compared to the previous year. The average time on the market increased to 132 days, indicating a shift towards a buyer’s market.

🤝 Philanthropy & Community Engagement

Community initiatives focused on enhancing recreational spaces and youth programs:news.uscg.mil

  • Community Ideation Session: On February 26, 2025, the North Bay Village Chamber of Commerce hosted a Community Ideation Session, encouraging residents to share ideas and collaborate on future projects aimed at improving the village’s quality of life. nbvchamber.com

🌟 Positive Community Developments

February saw several uplifting developments:andydaro.com

  • Art in the Park Celebration: North Bay Village hosted an Art in the Park Celebration alongside the Heart of the Bay Taskforce, featuring free activities, food, and the reveal of a new NBV entrance mural, fostering community spirit and cultural appreciation. northbayvillage-fl.gov