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A wave of condominium construction is reshaping one of Miami Beach’s less-developed residential districts, with several prominent firms pursuing projects ranging from flexible-use units to ultra-luxury oceanfront homes.
South Florida’s wealth migration continues to reshape the region’s real estate market, with sales of homes priced at $10 million and above accelerating sharply during the first half of 2026. Miami-Dade and Palm Beach are capturing most of that activity — but one statistic shows just how extraordinary the surge has become.
Covering approximately 481,200 square feet, the permit was the largest among South Florida’s recently reported construction filings.
Construction progress and a new $25 million state grant are advancing Vero Beach’s One Water Campus—a project that will ultimately allow the city to retire its aging waterfront treatment plant and unlock a key piece of the Three Corners redevelopment site.
Florida’s $1.8 trillion economy is fueling continued wealth migration, and luxury brokers say Vero Beach’s barrier island is emerging as one of the state’s biggest beneficiaries thanks to tax advantages, limited inventory and a growing influx of affluent buyers.
Vero Beach has been recognized as one of four Florida cities offering homebuyers a rare combination of affordability and safety. With an A-range crime grade, median home prices in the low $400,000s, and many homes selling below list price, the coastal community stands out as an attractive option amid Florida’s increasingly expensive housing market.
Miami commissioners have approved a long-debated plan to redevelop the historic Coconut Grove Playhouse, clearing the way for a restored 1926 facade, a new 310-seat theater, retail and office space, and a parking garage. While the vote marks a major milestone in reviving the landmark after two decades of closure, the project could still face legal challenges before construction moves forward.
Billionaire Ken Griffin spent roughly $125 million to buy all 138 condo units and ground-floor retail in a 22-story Miami tower. Griffin targeted Solaris because it occupied one of the few remaining parcels he didn’t already control in Brickell and fits into his broader real estate expansion in Miami.
The proposed project, estimated at about $250 million, would remake the waterfront site into a mixed-use destination with hotels, dining, retail, event space and a marina.
According to the Miami Association of Realtors, sales of single-family homes rose 10%, while existing condo sales increased 5%. Despite stronger sales activity, price trends differed between property types.
Ven-American Real Estate, Inc. established in 1991, is a full service commercial and residential real estate firm offering brokerage and property management services.
Ven-American Real Estate, Inc.
2401 SW 145th Avenue, Ste 407
Miramar, FL 33027
Brokerage & Property Management Services
Phone: 305-858-1188