“The current climate crisis requires action to reduce emissions on a global scale and designers need solutions to help combat this challenge,” said Vectorworks Senior Architect Product Specialist and creator of the VECC Luka Stefanović. “By providing designers with tools like the VECC, it widens the spectrum of designers joining the cause and reinforces our commitment to the global sustainability agenda.”
The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide — public and private, for-profit and non-profit, large and small — are eligible to submit nominations. The 2023 IBAs received entries from organizations in 61 nations and territories.
More than 3,700 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories, including Company of the Year, Marketing Campaign of the Year, Best New Product or Service of the Year, Startup of the Year, Corporate Social Responsibility Program of the Year, and Executive of the Year, among others. This year’s competition also featured a number of new categories to recognize organizations’ and individuals’ achievements in sustainability initiatives.
Stevie Award winners were determined by the average scores of more than 230 executives worldwide who participated in the judging process in June and July.
“Nominations to the IBAs get better every year, and this year’s class of Stevie winners is the most impressive yet,” said Stevie Awards President Maggie Miller. “The winners have demonstrated that their organizations have set and achieved lofty goals and we congratulate them on their recognized achievements.”
The International Business Awards and the lists of Stevie Award winners are available at stevieawards.com/IBA.
Learn more about the software that lets you sketch, model and document from start to finish by visiting vectorworks.net/architect or experience Vectorworks Design Suite first-hand by trying a 7-day free trial.
About Vectorworks, Inc. Vectorworks, Inc. is an award-winning design and BIM software provider serving the architecture, landscape architecture and entertainment industries in 85 countries. Built with designers in mind since 1985, Vectorworks software offers you the freedom to follow your imagination wherever it leads you. Globally more than 685,000 users are creating, connecting and influencing the next generation of design with Vectorworks on Mac and Windows. Headquartered in Columbia, Maryland, with offices in the UK, Canada and Australia, Vectorworks is a part of the Nemetschek Group. Learn how you can design without limits at vectorworks.net or follow @Vectorworks.
About the Stevie Awards Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 nominations each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
“Even with mortgage rates at 20-year highs, Miami real estate continues to show rising single-family pending sales and increasing condo luxury sales,” MIAMI Chairman Ines Hegedus Garcia said. “It’s a testament to South Florida’s market fundamentals—high percentage of cash buyers, rising year-over-year population – but a lack of inventory, particularly new listings, is impacting further growth for this high-demand market.”
Miami-Dade Single-Family Pending Sales Rise for Second Consecutive Month It’s difficult to compare today’s home transactions to the roaring 2021-22 era, when mortgage rates hit an all-time low of 2.65%, a worldwide pandemic led to the expansion of remote work and a pandemic-fueled housing boom registered historic sales.
Miami total home sales decreased 13.6% year-over-year in July 2023, from a historic 2,375 transactions in July 2022 to 2,051 in July 2023, because of elevated mortgage rates and lack of supply in certain price points.
Most of the homes purchased in July 2023 came to terms in June when mortgage rates peaked at 6.71%. Rates, in comparison, were at 5.09% on June 2, 2022. Even with the elevated rates, Miami-Dade single-family pending sales rose for the second consecutive month, increasing year-over-year from 1,016 to 1,032 transactions.
Home sales are sensitive to mortgage rate changes. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.09% as of August 17. That’s up from 6.96% the prior week and 5.13% one year ago.
“Miami-Dade’s price growth of over 10% is phenomenal at a time when mortgage rates are hovering at 7%, a strong indication of the pent-up demand that’s going to burst out as mortgage rates trend lower in 2024,” MIAMI REALTORS® Chief Economist Gay Cororaton said. “It’s tempting for buyers to wait for interest rates to decline. But keep in mind that there’s a shortage of homes for sale so prices are not likely going to fall, and expect buyer competition to intensify in 2024 as mortgage rates decline.”
Miami single-family home sales decreased 8.9% year-over-year, from 999 in July 2022 to 910 in July 2023 because of its comparison to a historic month and the current market has lower inventory in specific price points and higher rates.
Miami existing condo sales decreased 17.1% year-over-year, from a historic 1,376 in July 2022 to 1,141 in July 2023, due to lack of inventory and rising mortgage rates.
Miami Home Prices, Household Income Rise with Wealth Migration Miami-Dade County single-family home median prices increased 10.8% year-over-year in July 2023, increasing from $570,000 to $631,670. Miami single-family median prices have risen for 140 consecutive months (11.7 years), the longest running-streak on record. Existing condo median prices increased 10.5% year-over-year to $420,000 from $380,000. Condo median prices have stayed even or increased in 140 of the last 146 months.
Miami ranks No. 4 in the U.S. annual home price appreciation, according to the latest US CoreLogic S&P Case-Shiller Index.
Historically, a market with less than 6 months of supply will have appreciating prices. Miami single-family homes and existing condos are at 3.2 and 5.1 months, respectively.
Local home prices have risen with South Florida’s wealth migration. In-migration boosted South Florida household income by $16 Billion in 2021, according to MIAMI REALTORS® analysis of the 2020-2021 migration data released by the Internal Revenue Service.
New households moving into Miami-Dade in 2021 had an average adjusted gross income of $229,300. New households moving into Broward County had an average adjusted gross income of $102,600. New households moving into Palm Beach County had an average adjusted gross income of $242,200.
Miami-Dade County’s population increased year-over-year in 2022, according to new U.S. Census Bureau population estimates. Miami-Dade is one of only 11 counties in the U.S. that are back to positive population growth in 2021-2022 after pandemic-driven population declines impacted the entire country, according to a new Brookings Institute report.
Miami-Dade Inventory, New Listings Still Near All-Time Lows The monthly historical average for Miami-Dade inventory is 20,302 and current inventory is at 8,964. Total inventory is down 59.1% from pre-pandemic (July 2019), from 21,906 to 8,964.
Total active listings at the end of July decreased 10.1% year-over-year, from 9,973 to 8,964.
Inventory of single-family homes decreased 23.3% year-over-year in July 2023 from 3,727 active listings last year to 2,860 last month. Condominium inventory decreased 2.3% year-over-year to 6,246 from 6,104 listings during the same period in 2022.
New listings of Miami single-family homes decreased 23.4% to 1,255 from 1,639 year-over-year. New listings of condominiums decreased 18.2%, from 2,109 to 1,726 year-over-year.
Months’ supply of inventory for single-family homes increased 3.2% to 3.2 months year-over-year, which indicates a seller’s market. Inventory for existing condominiums increased 54.5% to 5.1 months, which also indicates a seller’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Nationally, total housing inventory at the end of July was 1.11 million units, up 3.7% from June but down 14.6% from one year ago (1.3 million). Unsold inventory sits at a 3.3-month supply at the current sales pace, up from 3.1 months in June and 3.2 months in July 2022.
Miami Real Estate Posts $250.2 Million Local Economic Impact in July 2023 Every time a home is sold it impacts the economy: income generated from real estate industries (commissions, fees and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing related expenditures (income earned as a result of a home sale is re-circulated into the economy) and new construction (additional home sales induce added home production).
The total economic impact of a typical Florida home sale is $122,000, according to NAR. Miami-Dade sold 2,051 homes in July 2023 and had a local economic impact of $250.2 million.
Miami total dollar volume totaled $1.59 billion in July 2023. Single-family home dollar volume decreased 17.6% year-over-year to $846 million. Condo dollar volume decreased 5.4% year-over-year to $746 million.
Miami Distressed Sales Remain Low, Reflecting Healthy Market Only 1.3% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, lower than 1.7% in July 2022. In 2009, distressed sales comprised 70% of Miami sales.
Short sales and REOs accounted for 0.3% and 0.9% year-over-year, respectively, of total Miami sales in July 2023.
Miami’s percentage of distressed sales are on par with the national figure. Nationally, distressed sales represented 1% of sales in July 2023, virtually unchanged from last month and the prior year.
Miami Median Price Appreciation Outperforming Nation, State In Florida, closed sales of single-family homes statewide totaled 22,198 in July 2023, down 6.4% year-over-year, while existing condo-townhouse sales totaled 8,463, down 9.4%. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
Nationally, total existing-home sales transactions waned 2.2% from June to a seasonally adjusted annual rate of 4.07 million in July. Year-over-year, sales slumped 16.6% (down from 4.88 million in July 2022).
The statewide median sales price for single-family existing homes was $415,000, up 0.7% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $319,000, up 4.6% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.
Nationally, the median existing-home price for housing types in July was $406,700, an increase of 1.9% from July 2022($399,000). Prices rose in the Northeast, Midwest and South but were unchanged in the West.
Miami Real Estate Attracting Near List Price The median percent of original list price received for single-family homes was 97.2% in July 2023, down from 99% last year. The median percent of original list price received for existing condominiums was 96.4%, down from 99% last year.
The median number of days between listing and contract dates for Miami single-family home sales was 24 days, up from 17 days last year. The median time to sale for single-family homes was 68 days, up from 62 days last year.
The median number of days between the listing date and contract date for condos was 32 days, up from 20 days. The median number of days to sale for condos was 77 days, down from 64 days.
Miami Cash Sales 52% More than National Figure Cash sales represented 39.6% of Miami closed sales in July 2023, compared to 41.3% in July 2022. About 26% of U.S. home sales are made in cash, according to the latest NAR statistics.
Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects Miami’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.
Cash sales accounted for 50.2% of all Miami existing condo sales and 26.4% of single-family transactions.
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About the MIAMI Association of Realtors®
The MIAMI Association of Realtors (MIAMI) was chartered by the National Association of Realtors in 1920 and is celebrating 103 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations: MIAMI RESIDENTIAL, MIAMI COMMERCIAL; BROWARD-MIAMI, a division of MIAMI Realtors; JTHS-MIAMI, a division of MIAMI Realtors in the Jupiter–Tequesta–Hobe Sound area; MIAMI YPN, our Young Professionals Network Council; and the award-winning MIAMI Global Council. MIAMI REALTORS represents nearly 60,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 256 international organizations worldwide. MIAMI’s official website is http://www.MiamiRealtors.com
FRISCO, Texas, Aug. 22, 2023 /PRNewswire/ — Careington Benefit Solutions, affiliate of Careington International Corporation, announces the expansion of its service offerings to now include customizable commercial lines for property and casualty insurance. Backed by more than 40 years of…
Mr. Scicchitano brings over a decade of experience in Director and Manager level roles for publicly traded companies, such as Altria and Curation Foods (Landec).
“We’re excited to welcome Frank Scicchitano as our Director of People Operations,” said George Kutnerian, co-founder, President and CEO of Wellpointe Inc. “We anticipate Frank playing a critical role in the next phase of Wellpointe’s growth”.
About Wellpointe Inc.
Operating at the intersection of healthcare and real estate, Wellpointe is a leading provider of boutique residential assisted living services that specializes in offering a coordinated and integrated system of care to high-acuity older adults with multiple chronic illnesses, including Alzheimer’s and other dementia.
Leonard Kincaid, Co-founder and Chief Executive Officer of Houston Recovery Center, believes that “change begins at the heart”. He shares that “HRC began as a jail diversion program for public intoxication delivering sobering services. Frequently returning clients led us to design and deliver long-term, client-driven substance use recovery programming. Now we have become a Community HUB that addresses problematic substance use. Our approach is based on a Recovery Management framework that identifies the problem, engages the person, stabilizes their substance use, and supports long-term social reintegration. This approach capitalizes on our staff’s lived experience and our agency culture of compassion, dignity, and respect. It also integrates whole-person care while addressing a broad range of social services. We have grown to serve men and women from all walks of life, all demographics, multiple cultures, professional careers and ages—from younger, college-aged students to adults who are older.” Houston Recovery Center has released its Ten-Year Impact Report, which can be found on its website at www.Houstonrecoverycenter.org. To learn more, please join us for a national webinar presentation:
Sobering Centers in the Continuum of Care: Houston Recovery Center’s Ten-Year Impact Report. A Roadmap for Success. Thursday, September 28, 2023, from 11 a.m.-12 p.m. CDT. Register Here.
Houston Recovery Center (HRC) was launched in 2013 in Houston, Texas, to develop and operate a law enforcement diversion program. The Sobering Center delivers this program by receiving and monitoring intoxicated people as they safely sober up. The recovery process can include a series of treatment, healthcare, housing, and social services offered by independent specialty providers. These providers often operate in silos, so their services are not linked nor delivered as a continuum of care. Houston Recovery Center’s frequent clients, many with complex profiles, lack the resource capacity and behavioral capability to navigate and enroll in a series of independent services on their own. In response, HRC designed Partners in Recovery, a recovery care management program pairing six months of case management with 18 months of peer support. HRC’s “recovery team” creates a recovery plan based on client-defined goals. Services are linked together in a continuum using transportation and “warm handoffs” to deliver a system of care. The overarching goal is to improve successful access to appropriate care resulting in increased rates of sustained stabilization and a better quality of life.
Media Contact: Leonard Kincaid, CEO, at [email protected] (713) 236-7802
About Via Positiva
Via Positiva is a practice of behavioral health executives dedicated to helping behavioral health and other human service providers navigate the healthcare landscape toward becoming fiscally strong, sustainable, integrated, and clinically and culturally excellent. www.ViaTiva.com
Media Contact: Jim Clarkson, President, at [email protected] Cellular (505) 944-5284
LAKELAND, Fla., Aug. 22, 2023 /PRNewswire/ — Florida Polytechnic University welcomed students back to campus on Tuesday, Aug. 22, launching the 10th academic year in the all-STEM institution’s history. University officials said they anticipate the 2023-2024 academic year will be as…
Twenty-two of the communities are located in Illinois and three are in Ohio. Together, the 25 communities house nearly 1,375 apartments.
“We are honored that ownership decided to transition management of these existing communities to Gardant,” says Simpkins. “Our mission is to lead the way in senior living through innovative and inclusive approaches that bring value to stakeholders and vitality to all residents and employees.”
In recent years, Gardant-managed communities have been recognized as being among the best in the nation by U.S. News and World Report. The American Health Care Association/National Center for Assisted Living has recognized Gardant-managed communities for their commitment to quality. Gardant-managed communities have received Great Place to Work designations.
The company ranks as one of the ten largest assisted providers in the country and the largest provider of affordable assisted living.
With the addition of the 25 communities to the Gardant portfolio, the company now manages more than 80 senior living, assisted living and memory care communities, housing nearly 7,200 apartments. The communities are located in Illinois, Indiana, Maryland, Ohio, and West Virginia.
The communities in Illinois and Indiana are located throughout both states. Many of the communities are designed to primarily or exclusively serve low-income individuals and are fully approved as Medicaid-waiver assisted living providers.
The communities in Ohio are located in Grove City, Lancaster, and Washington Court House.
“Our commitment is to enrich the lives of the residents we serve and to provide them with the Love, Compassion, and Dignity they deserve,” says Echols.
“Our clients come first, and with the integration of Corserv’s program we will be able to offer an improved and personalized credit card experience for our clients,” said Russ Holland, President and CEO of Fieldpoint Private. “The program was engineered to transform the complexities of life and business into the simplicities of reward and the clarity of customized expense management.”
Fieldpoint Private will provide personalized service to clients through their Private Bankers, but will also leverage card support services from Corserv including a 24×7 call center, and handling of disputes, chargebacks, payments, fraud prevention and investigation. Fieldpoint Private’s staff will access Corserv’s administrative portal to manage credit decisions, access reporting and assist customers.
“We are thrilled to partner with a unique financial institution like Fieldpoint Private, to provide the right wealth management and commercial card products to meet the needs of their successful clients,” said Anil Goyal, CEO at Corserv.
About Fieldpoint Private Headquartered in Greenwich, Connecticut, Fieldpoint Private (http://www.fieldpointprivate.com) has more than $1.6 billion in bank assets and provides personalized, custom private banking and wealth transfer services. Catering to successful individuals, families, entrepreneurs, businesses and institutions, Fieldpoint Private develops a comprehensive understanding of our clients’ individual financial circumstances and furnishes comprehensive advice and personal service to free up the one resource that regardless of means no one can ever have enough of: time. Banking Services: Fieldpoint Private Bank & Trust. Member FDIC.
Registered Investment Advisors: Fieldpoint Private Securities, LLC, is a SEC Registered Investment Advisor and Broker Dealer. Member FINRA, MSRB, SIPC. Accounts managed by FPS are not FDIC insured.
Trust services offered through Fieldpoint Private Trust, LLC, a public trust company chartered in South Dakota by the South Dakota Division of Banking.
About Corserv Corserv provides innovative issuing processing and program management services for credit, debit and prepaid cards enabling Banks and Fintechs to deliver and embed payment card capabilities for their customers. Corserv’s deep expertise in the industry combined with our modern technology API solution provides our clients with everything they need to quickly build a successful card-issuing business. For more information, please visit http://www.corservsolutions.com.
itselectric was named the winner in the Sustainability category; and a finalist in both the “Best Design in North America” and “On the Rise: 0-4 Years in Business” categories
NEW YORK, Aug. 22, 2023 /PRNewswire-PRWeb/ — itselectric, a Brooklyn-born electric vehicle curbside charging company, today announced it has been honored in three categories of Fast Company’s 2023 Innovation by Design Awards. The company’s unique approach that solves the infrastructure and environmental justice barriers cities face in the deployment of EV charging was named the winner in the Sustainability category; and a finalist in both the “Best Design in North America” and “On the Rise: 0-4 Years in Business” categories.
itselectric is the world’s first public EV charging system that allows cars to be powered by buildings – providing urban networks of Level 2 curbside charging posts at no cost to cities or to property owners. itselectric is the first EV charger designed and manufactured in North America to feature a detachable cord provided to every driver, which eliminates the maintenance required from damaged cords or cord management components, and keeps streets free of cables when a vehicle is not charging. itselectric partners with neighborhood property owners to unlock access to their buildings’ untapped electrical supply. Once a property is deemed eligible, itselectric installs and maintains a discreet, low-profile charger on the curb, and property owners earn passive income. With this business model, itselectric helps cities meet their carbon reduction targets and reduce capital expenditure by completely avoiding the infrastructure upgrades and utility connections normally needed to support on-street charging.
“We’ve reinvented the EV charger by removing the big, the bad, and the ugly. Our sleek design was created with the cities we love in mind, making charging infrastructure readily available for urbanites without visually disturbing the blocks that they love, and live on,” said Tiya Gordon, COO and Co-Founder of itselectric. “As a young clean-tech company, we are thrilled to see Fast Company shine this light on the important work happening within Climate and we’re honored to be recognized by the Innovation in Design Awards alongside other inspiring creators. We are grateful to our partners who helped realize our vision of a design and community-centered approach to EV charging. To our industrial design partner Billings Jackson Design; our brand design partner Small Stuff; and our filmmaking partner Jacob Krupnick this award is shared with you.”
The Innovation by Design Awards, which can be found in the September 2023 issue of Fast Company, honor the designers and businesses solving the most crucial problems of today and anticipating the pressing issues of tomorrow. The competition, now in its 12th year, features a range of blue-chip companies, emerging startups, and hungry young talents. It is one of the most sought-after design awards in the industry.
“So much innovation news these days is focused on AI,” said Brendan Vaughan, editor-in-chief of Fast Company. “This year’s Innovation by Design honorees are a reminder that it’s human ingenuity that drives invention.”
The judges include renowned designers from a variety of disciplines, business leaders from some of the most innovative companies in the world, and Fast Company’s own writers and editors. Entries are judged on the key ingredients of innovation: functionality, originality, beauty, sustainability, user insight, cultural impact, and business impact.
Millions of drivers park their cars on the street and cannot transition to electric vehicles without convenient and affordable on-street charging infrastructure. itselectric is accelerating the rate of adoption of EVs by providing communities with scalable and simple curbside EV charging that seamlessly integrates into their neighborhoods. itselectric’s solution ensures that every community – no matter the median income or prevalence of driveways and garages – has access to clean transportation.
itselectric’s “behind the meter” approach results in zero impact on municipal budgets. They partner with cities across the U.S. to install, operate and maintain chargers at no cost to the city or to the host property owner – all while allowing property owners to earn passive income every month. To learn more, please visit itselectric.us.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online atwww.fastcompany.com.
Founded in the summer of 2018, North Square’s combined platform assets under management have grown from over $1 billion to $10.9 billion today. As of July 31, 2023, North Square had $1.3 billion of assets under management (AUM) in 12 mutual funds. With North Square’s ownership interests (majority and minority, respectively) in the distinctly branded firms of CS McKee ($8.2B AUM) and Oak Ridge Investments (approximately $1.4B AUA), collective assets under management and advisement totaled $10.9 billion.
Goodwin stated that proceeds from The 4100 Group’s capital investment are expected to fund a number of important strategic firm initiatives, such as acquisitions, new product launches and sales team additions.
“We are excited at the opportunity to deepen our existing relationship with the North Square team and look forward to being part of their continued success,” said Mike Gilmore, President and CEO of The 4100 Group. “They have been very thoughtful in the development of their platform and know how to compete every day, which is something we look for in a long-term partner,” he continued.
“With our differentiated investments, high quality and experienced subadvisors and current AUM relationships with over 500 retail firms and more than 9,000 advisors and teams, we believe North Square will continue on a significant growth trajectory,” Goodwin said.
North Square is committed to the sourcing, vetting and delivery of institutional quality, active investment managers to their financial intermediary partners which include broker dealers, wealth management advisors, RIAs, family offices, retirement plans and private banks. The firm delivers value to its investment partners by providing support services and access to distribution while assisting distribution partners as they search for high quality, alpha-generating active investment strategies to build better risk-adjusted portfolios for their clients.
About The 4100 Group
The 4100 Group (T4G) invests in wealth management and boutique asset management firms with cohesive teams focused on sustained business expansion and value creation. Expansion initiatives leverage its collective experiences, encourage innovation, and are supported with capital when necessary. T4G will also invest in opportunities that have strong potential to advance the performance of its portfolio companies.
About North Square
Founded in 2018 and headquartered in Chicago, IL, North Square Investments is an independent, multi-boutique investment firm dedicated to delivering differentiated active investment strategies to the market. With an experienced senior management team, a board composed of industry veterans including John Amboian, Neil Cummins and Brian Gaffney, and backed by Estancia Capital Partners, North Square is a leader in aggregating best-in-class active managers and delivering select, in-demand investment strategies to financial intermediary partners for the benefit of their clients. Learn more about North Square Investments at northsquareinvest.com.
North Square Investments, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about the company’s investment advisory services can be found in its Form ADV, which is available upon request. Past performance is not indicative of future results. Nothing contained herein constitutes an offer to buy or sell a particular security or investment product. This information contains opinions that are as of the date of this publication and are subject to change without notice.
