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NEIGHBORHOOD DESCRIPTION <br /> According to The Dictionary of Real Estate Appraisal, 5th Edition, Appraisal Institute 2010, a <br /> neighborhood is defined as:"a group of complementary land uses; a congruous grouping of <br /> inhabitants, buildings, or business enterprises. <br /> Sunny Isles Beach,which is a barrier island in the northeast corner of Miami-Dade County,is situated <br /> between 156th and 195th Streets. The City, is bounded by: the Atlantic Ocean on the east; and the <br /> Intra-Coastal Waterway on the west. The town of Golden Beach lies to the immediate north while <br /> Bal Harbour and Haulover Park are to the immediately south. Less than two miles in total length, <br /> Sunny Isles Beach has a lot to offer for such a short stretch of land. <br /> The City,which was incorporated in 1997,has been experiencing a major redevelopment renaissance <br /> on the east side of Collins Avenue, the main thoroughfare. Zoning laws ensure that view corridors <br /> and beach access pathways will always offer residents a life with a view. To the west of Collins <br /> Avenue, the City has been building parks, improving the infrastructure and laying the groundwork <br /> for future redevelopment. <br /> The emphasis of most of the redevelopment is on residential condominium construction.Developers <br /> in accordance with the City's Land Development Regulations(LDR's)are steadily replacing outdated <br /> motels and/or motel-condos with luxury, high-rise, residential oceanfront development. The new <br /> developments typically offer floor to ceiling glass windows in every room, hi-tech integration into <br /> each unit such as"smart living", amenities that are only found in 5 star resorts and fresh designs in <br /> building structure. Over the past decade Sunny Isles has been one of the best location for residential <br /> condominium pre-construction. <br /> Developers constructed 27 projects with nearly 6,400 units in the Sunny Isles Beach market since <br /> 2003.Prior to the boom, developers had built nearly 60 projects with nearly 12,000 units. Currently <br /> Sunny Isles Beach ranks second in most active condominium markets in Miami-Dade County. <br /> Approximately 19 towers with about 2,500 units are either under construction or proposed. The <br /> following table illustrates the City's demographic profile over the past decade. <br /> Year 2000 2012 <br /> Total Population 15,315 20,832 <br /> Population Change - 36% <br /> Median Age in Years 50 43.5 <br /> Total Housing Units 11,169 18,984 <br /> Change in Housing Units - 70% <br /> 8 <br />