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.

proposed three corners project in vero beach_image credit Clearpath Services The Ridge Group DMJR 1030x385

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.