Moishe Mana and the Mana Group plan a large-scale tech center, anchored by Flagler Street, for downtown Miami, representatives just told the Downtown Development Authority.

“Mana Tech will bring tech and venture capital companies into the city’s core very much at the direction of Moishe Mana,” said Paul Lambert, managing principal of Lambert Advisory. “Flagler Street will be the center, and he plans to re-do the entire block.”

The area, bounded on the east and west by Southeast First and Southwest First avenues and on the north and south by Northwest Second and Southwest Second streets, will contain 11 buildings, most of which already exist and will be renovated.

“A pocket park will be adjacent to one building,” Mr. Lambert said.

The Mana Group, already a presence in Wynwood, began acquiring downtown buildings in 2014; it has been reported that Moishe Mana owns about 45 buildings near Flagler Street now.

“Permits will be pulled shortly to begin renovations, with the earliest of the buildings to be ready in the first quarter of 2021,” Mr. Lambert said.

“There is tech in Miami, but it is isolated, and it’s not working as one,” said Uri Adoni, Mana Tech managing director. “We want this whole area to be about tech, and not just local tech. We want to import start-ups, possibly from South America. Start-ups need services, and that’s what we will supply. Usually, these companies would be based in New York City, but Miami can be a target.”

“This really has the power to be transformative, based on the sheer assets and resources you’re deploying,” said authority board member Philippe Houdard, founding principal of Pipeline Workspaces and Skybank Financial. He asked whether the group has any firm commitments from potential tenants.

“We want a mix of tenants; it can be relatively young start-ups with 50 to 100 employees,” Mr. Adoni said. “We’ve also had initial talks with large corporate tenants, but I can’t say it’s mature yet. Give us any leads you have and we’ll filter them.”

“Flagler is the spine and nervous system of downtown,” said Ken Russell, authority chair and Miami commissioner. “We’re setting the table” with the renovation of Flagler Street itself, which is to resume after the February Super Bowl. That project has been driven by the authority and is being funded by the city, the county, the authority and property owners.

“We want to help you recruit,” he told Mr. Adoni. “And we have a bank account that’s meant to do just that.”

 

Source: Miami Today

In the future, potential renters may visit available units, apply for leases and execute paperwork without ever seeing a human being.

That’s what PropTech investor John Helm is banking on. Helm is the managing director for Real Estate Technology Ventures (RET Ventures), an industry-backed early stage investor fund. He made his prediction of human-free leasing during a recent panel at the Urban Land Institute Miami fall symposium.

“Cutting leasing staff can significantly trim expenses for an apartment building,” said Helm. “But the savings won’t come from a single app. We tend to follow things and invest in companies that compliment one another.”

His team is investing in artificial intelligence companies that digitize the screening of a would-be renter online and allow that renter to schedule an appointment to tour the unit. RET Ventures is also investing in lock-and-entry technology using facial recognition software to give access to a person to tour an apartment.

“The ability to tour a home solo also correlates with higher closing rates,” said Helm. “Data shows that renters who tour units without human leasing agents are more likely to close.”

Panelist Tigre Wenrich, CEO of Lab Ventures Miami, is focusing on a different real estate sector: construction. Lab Ventures is investing in apps that monitor construction workers to simplify payroll and track progress. In addition, it has invested in Licify, a marketplace for the Latin American commercial construction industry.

LAB Miami Ventures is also investing in a 3D visualization product that will allow a prospective customer to see how an office or residential space might look when customized to the client’s wishes.

 

Source: Miami Herald

OKO Group, the US-based development company founded by international real estate and hotel magnate Vladislav Doronin, and Cain International, a privately held real estate investment firm, have revealed plans for 830 Brickell, the first new office tower to launch in Miami in nearly a decade.

The soaring 57-story, 724-foot-tall skyscraper designed by one of the world’s leading architecture firms will introduce a premium commercial offering to the city’s booming financial district and will reinvent the workplace lifestyle for the highest-caliber of global workforce. Cushman & Wakefield’s leasing team is launching the marketing of the building to prospects now, ahead of 830 Brickell’s completion in 2022.

At the core of 830 Brickell’s innovative approach to office space is its stunning design by Adrian Smith + Gordon Gill Architecture (AS+GG), the internationally acclaimed firm responsible for the world’s tallest buildings, including the Burj Khalifa, Jeddah Tower and the tallest residential building in the U.S., New York’s Central Park Tower.

The tower will feature spectacular only-in-Miami panoramic ocean and city views, floor-to-ceiling windows, column-free spans, state-of-the-art digital infrastructure with Wired certification and a LEED Silver certification due to its progressive environmentally efficient design. It will be Miami’s most contemporary office tower, befitting the city’s growth into an international capital of business.

Set within the urban destination of Miami’s Brickell neighborhood, 830 Brickell is at the center of the city’s most exciting cultural, culinary and retail experiences. Tenants will have direct, walkable access to Brickell City Center, Mary Brickell Village, Downtown Miami offering a suite of upscale hotels and restaurants. Known as the city’s financial district and the Wall Street of Latin America, Brickell is a rapidly transforming neighborhood for residents, tourists and businesspeople alike. The location is also convenient to Miami International Airport as well as the Port of Miami.

830 Brickell will also be differentiated by its unprecedented lifestyle offerings for a commercial tower, which will promote out-of-the-box collaboration, work-life balance and wellness. Aimed at attracting the world’s largest companies and progressive visionaries, the project touts an elite roster of first-rate amenities – including an upscale rooftop restaurant and bar on the 56th and 57th floors, a 30th floor sky lobby with a nearly 2,500-square-foot health and wellness center and first-class conference facility, a 14th floor outdoor terrace designed by Enea Landscape Architecture, valet parking and electric vehicle charging stations, cafés and shopping.

Offering white-glove customer service, the tower also boasts a forward-thinking culture of seamlessness, highlighted by a 24-hour concierge responsible for event planning and coordination, booking restaurant reservations, sending out dry cleaning, organizing deliveries and more.  Additional services will include bicycle storage, a shoe shining stations and much more.

This project is innovative through its use of programming outdoor spaces that serve as amenities for the tenants, both at the podium level and at the skyline level. The rooftop restaurant and bar are outstanding amenities, affording sweeping views of downtown that will energize the building at night. Additional roof terraces will allow tenants to enjoy the Miami weather without being on the street level. The 30th floor sky lobby with café and fitness center offers more advantageous views to all tenants.

This commercial tower will set the new gold standard in Miami and will be the catalyst for additional high-end development in the area. The design of 830 Brickell was influenced and inspired by the world-class-quality of art infused in the city since the introduction of the Art Basel Miami Beach fair in 2002. AS+GG’s aim was to elevate the architectural expression of the building to the level of museum-quality art.

 

Source: The Real Deal

Whereas some scientific fashions predict sufficient polar ice soften to convey no less than 10 ft of sea stage rise to South Florida by 2100, only a modest 12 inches would make 15% of Miami uninhabitable, and far of that beachside property is amongst America’s most beneficial.

Even now, as extra frequent “king tides” bubble up via Florida’s porous limestone, pushing fish via sewers and onto streets, residents are changing into extra conscious that their metropolis is constructed on the rippling cabinets, ridges and canyons of a fossil seabed.

“Water is just going again to the identical locations it flowed ages in the past,” says Sam Purkis, Chair of the College of Miami’s Geosciences Division. “The irony is what occurred 125,000 years in the past goes to dictate what occurs to your own home now.”

The fickle undulations between metropolis blocks might imply the distinction between survival and retreat, and the rising price of altitude is sparking a noticeable shift in neighborhood activism and municipal budgets.

Miami Seaside is spending hundreds of thousands elevating roads, upgrading pumps and altering constructing codes to permit residents to lift their mansions by 5 ft. However in working-class, immigrant neighborhoods like Little Haiti, year-to-year sea stage rise will get misplaced within the day-to-day wrestle, and most had no concept that they dwell a lofty three ft increased than the rich of us on Miami Seaside.

They came upon when builders began calling, from all over the place.

“They have been calling from China, from Venezuela. Coming right here with circumstances of cash!” says Marleine Bastien, a neighborhood organizer and longtime resident. “We used to assume that the attract of Little Haiti was the truth that it is near downtown, near each airports and near the seashore. Unbeknownst to us, it is as a result of we are positioned at the next altitude.”

Mentioning a row of vacant outlets, she ticks off the names of a dozen small enterprise homeowners she says have been compelled out by rising rents, and lists others who she says unwittingly took lowball presents with no understanding of Miami’s housing disaster.

“In case you promote your private home in Little Haiti, you assume that you simply’re making a giant deal, and it is solely after you promote, and then you definately understand, ‘Oh, I can’t purchase anyplace else.’”

After her neighborhood middle and day faculty have been priced out of three totally different buildings, she caught wind of plans to construct the sprawling $1 billion Magic Metropolis growth on the sting of Little Haiti, that includes a promenade, high-end retail shops, high rise residences and imagined by a consortium of native buyers, together with the founding father of Cirque du Soleil.

Magic Metropolis builders insist that they picked the location based mostly on location, not elevation. They promised to protect the soul of Little Haiti and provides $31 million to the neighborhood for inexpensive housing and different applications, but it surely wasn’t sufficient for Bastien.

“This can be a plan to really erase Little Haiti,” Bastien says. “As a result of that is the one place the place immigration and local weather gentrification collide.”

She fought the event with all of the protesters and hand-lettered indicators she might muster, however after a debate that went till 1 a.m., commissioners authorised the allow with a Three-Zero vote on the finish of June.

“The world we took was all industrial,” says Max Sklar, VP with Plaza Fairness Companions and a member of the event staff. “There was no actual thriving financial system round these warehouses or vacant land. And so our objective is to create that financial system. Can we appease all people? Not 100%, that is not possible. It is not sensible. However we have listened to them.”

He repeats a promise to ship $6 million to a Little Haiti neighborhood belief earlier than ground is even damaged and, as an indication that he listened to no less than one demand, acknowledges that the advanced will now be known as Magic Metropolis Little Haiti.

However whereas Bastien mourns the defeat, her neighbor and fellow organizer Leonie Hermantin welcomes the funding and hopes for the perfect.

“Even when Magic Metropolis didn’t come immediately, the tempo of gentrification is so speedy that our folks won’t be able to afford houses right here anyhow,” Bastien says with a resigned head shake. “Magic Metropolis is just not the federal government. Reasonably priced housing insurance policies have to return from the federal government.”

“Local weather gentrification is one thing that we are very intently monitoring,” Miami Mayor Francis Suarez tells me. “However we have not seen any direct proof of it but.”

Suarez is the uncommon Republican who passionately argues for local weather mitigation plans and helped champion the $400 million Miami Perpetually bond, authorised by voters to fund motion to guard the town from the ravages of upper seas and stronger storms.

“We really created in our first tranche of Miami Perpetually, a sustainability fund for folks to renovate their houses in order that they’ll keep of their properties somewhat than having to promote their properties,” Suarez says.

However that fund is a comparatively small $15 million, not sufficient to dent a housing disaster that grows with every warmth wave and hurricane, in a metropolis the place over 1 / 4 of residents dwell under the poverty stage.

What’s taking place in Little Haiti might be only one instance of a “local weather apartheid” that the United Nations warns is forward, the place there can be a gulf between the wealthy who can shield themselves from the influence of local weather change and the poor who are left behind.

Philip Alston, the UN Particular Rapporteur on excessive poverty and human rights, mentioned there was already proof of how the local weather disaster impacts the wealthy and poor in a different way. And he identified that these harm most have been seemingly these least accountable.

“Perversely, whereas folks in poverty are accountable for only a fraction of world emissions, they’ll bear the brunt of local weather change, and have the least capability to guard themselves,” Alston wrote final month.

 

Source: Nosy Media

The Flagler Street area of Downtown Miami’s Central Business District is likely to see over 30 million square feet in new development, a new study says.

Gridics analyzed development potential in the Downtown Historic Area based on Miami 21 zoning regulations and allowances, in a study prepared for the city to help plan for future infrastructure needs.

Over 26 million square feet in new development is likely along Flagler Street and to the areas north and south, based on zoning regulations and allowances. Another 17 historic sites could see 8 million square feet in additional development.

Gridics says the study will help save the city and utilities companies millions, by helping plan infrastructure needs.  Road improvement projects are already underway that could need to be torn up in the future to meet demand for new utilities without proper planning, the company said.

 

Source: The Next Miami

Brickell City Centre won the initial green light to expand its footprint, creating two new mixed-use towers within a more than 100,000-square-foot annex to the $1.05 billion project.

The Miami City Commission just approved on first reading an amendment to Brickell City Centre’s special area plan that adds 15 properties owned by Colombian businessman Carlos Mattos, who is partnering with Brickell City Centre developer Swire Properties on the 104,287-square-foot expansion.

According to documents submitted to the city, Mattos and Swire want to build a 54-story building that would have 588 residential units, 84,009 square feet of commercial space and 832 parking spaces, as well as a 62-story tower with 384 residential units, 3,275 square feet of commercial space and 399 parking spaces. Among the sites is the former home of Tobacco Road, the famed watering hole that lasted 102 years before a wrecking ball claimed it in 2014.

Akerman attorney Neisen Kasdin, who represents Swire, told city commissioners the project will likely not break ground until the next cycle.

“It is market-dependent of course because there will be for-sale units there,” Kasdin said. “We are probably looking at a two-to-three-year period.”

The proposed Brickell City Centre annex would also have 11,718 square feet of civic space and the joint venture partners have agreed to build a connection to the Miami Riverwalk, add lighting to the South Miami Avenue Bridge. They will also donate $1 million to the city to be used for renovating single-family houses owned by low-income individuals.

The 15 properties run between Southwest 5th and 7th streets along South Miami Avenue and total just over 2 acres. In 2012, Mattos’ Tobacco Road Property Holdings LLC paid a combined $15.44 million for the majority of the assemblage which consists of nine adjacent properties at 11, 21, 31, 37, 45 and 55 Southwest Seventh Street and 622, 626 and 640 South Miami Avenue in 2012. Swire affiliate BCC Road Improvement LLC paid $4.7 million for the roughly 15,000-square-foot corner piece at 602 South Miami Avenue in 2014.

The expansion still requires final approval, which is often likely once it has been approved on first reading. Brickell City Centre’s first phase included two 390-unit condo towers, Reach and Rise; a 500,000-square-foot outdoor mall; an office building and a 40-story hotel, East, Miami.

 

Source: The Real Deal

Over the past five years, major upgrades to quality of life in Aventura have set the stage for another decade of growth in residential and commercial properties, and a population increase as the quality of life rises again.

The city itself has committed to spending millions of dollars over the next five years on improvements. Nearly $3 million is going directly to local parks. Waterways Park, Veterans Park and Founders Park will undergo renovations which include new playground equipment, updated drainage, new turf and more.

Just over $4 million will be used for transportation improvements, such as road resurfacing, new pedestrian walkways and lighting, and improvements to improve traffic flow along major roadways. About 30-plus roads will be addressed, including Aventura Boulevard, Country Club Drive and more.

The city purchased 2 acres from the Gulfstream Park Racing Association last year on which to build the city’s first high school. The charter school of 800 students is scheduled to open in fall 2019 as Soffer Aventura High School.

Retail Expansion

A new three-story wing expansion has opened to the public at Aventura Mall. It adds restaurants, retail stores, art, an outdoor fountain and a 93-foot tall slide among other attractions (PHOTO CREDIT: MATIAS J. OCNER | File, Dec. 18, 2017)

Aventura Mall is creating a more immersive shopping experience. A three-level expansion wing facing the William Lehman Causeway has opened with a two-level Topshop, Zara and restaurants that include CVI.CHE 105 and Genuine Pizza, a casual restaurant by James Beard Award-winner Michael Schwartz. Another 11 stores and restaurants have opened or are coming, including International Smoke by Ayesha Curry and chef Michael Mina, Schutz Shoes, and Diveto Ristorante.

Topping them off is a 93-foot outdoor, spiral slide designed by Belgian artist Carsten Höller. The nine-story ride, which takes only 15 seconds, is free to anyone 50 inches or taller. The mall plans to add more interactive art installations in coming years.

Developer Seritage Growth Properties is building on the former Sears store site at Aventura Mall. The first phase will feature the ground-level development of 215,000 square feet of U.S. and international retailers, entertainment and dining in an open-air setting. An additional 100,000 square feet is planned on the 12.3 acre site that faces William Lehman Causeway and Biscayne Boulevard.

The rich and famous are taking note. NBA stars Dwyane Wade and Udonis Haslem celebrated the grand opening of the first 800 Degrees Woodfired Kitchen in Florida, in September. The 4,000-square-foot restaurant, which sits on 199th Street, seats 125 people and features a full bar.

Residential Construction

Just to the south, Turnberry Isle Miami kicked off a number of improvements late last year. Plans include a new 16-story luxury building, upgrades to the main lobby and resort facilities. The investment tops $175 million.

Aventura ParkSquare and Prive at Island Estates are bringing a city-within-a-city lifestyle to Aventura. Prive opened on a previously undeveloped island in January. The 150- unit project has 35,000 square feet of amenities between the two towers, plus outdoor amenities.

The 7.4-acre Aventura ParkSquare at the corner of Waterways Boulevard and Northeast 207th Street consists of five buildings. They include a new luxury condominium with 131 residences; 100,000 square feet of Class A office space; 55,000 square feet of ground-level retail and restaurant space; a 45,000-square-foot medical center; a luxury senior living tower; and a 207-room Starwood Aloft Hotel.

Aloft is just one of several new hotels. The 233-room AC Hotel Miami Aventura north of the mall opened in July 2017. The 192-room Aventura Hilton Hotel, just to the south of the mall, will soon break ground.

 

Source: Miami Herald

Frank Cestero is in a sweet spot. The Puerto Rican gets to enjoy the warm, tropical weather of Palm Beach County in the US state of Florida, while the small company he works for is booming thanks to robust growth in the global renewable energy sector.

Cestero is the chief financial officer (CFO) of SolarTech Universal, headquartered in the coastal city of Riviera Beach. Founded in 2012, SolarTech‘s panels are made using advanced robotics and solar cell technology designed by the company’s European partner, Meyer Burger, a Swiss firm operating in Germany and Singapore.

Its cutting-edge equipment allows the green energy company to focus on the premium end of the market. That seems to be working out. SolarTech will be adding a second production line by the end of the year, creating an expected 70 new jobs in the process.

“Demand is robust,” said Cestero. “We’re very bullish over the next 24 months.”

Favorable Business Climate

Governments and businesses have increasingly set their sights on harnessing the power of the sun to meet their energy needs. Furthermore, government policy changes in response to climate change have created incentives and mandates at the local, state and national levels.

Technological improvements, meanwhile, have slashed solar power production costs, making it more accessible to commercial and residential customers. Demand for clean power has also been on the rise over the past several years, with consumers seeing the benefits of shifting to clean sources of energy and decentralized power distribution.

Against this backdrop, companies big and small are optimistic about the future. Market players like CED Greentech, a large US solar panel distributor and SolarTech customer, have increased their investments over the past couple of months.

“The market is pretty dynamic,” said Tristan Tedford, a CED Greentech account manager setting up shop in Pompano Beach, a city just north of Fort Lauderdale. “Module prices have dropped and you have an emerging electric vehicle market coming.”

The Trump Tariffs

The industry’s growth and increasing strategic significance, coupled with complaints from American solar manufacturers about unfair trade competition, were all a part of the reason why US President Donald Trump zeroed in on solar panels, among other products, for tariffs in early 2018.

“The tariff narrowed the price gap between the Chinese product and US product and by highlighting the US product, it has increased awareness of US-made products among end-users and middle-market buyers,” Cestero said.

He claims that by the end of this year SolarTech will be the only domestic manufacturer of exclusively US-made panels, with over 70 percent of its inputs sourced domestically. This is significant because it gives a niche player like SolarTech access to the lucrative public sector, as state and local governments strive to meet CO2-reduction targets by increasing public investment in green energy.

Industry Backlash

But some in the US solar industry have aggressively pushed back against Trump‘s tariffs. One example is SunPower, which is majority-owned by French oil giant Total. The San Jose-based company threatened to curtail its new capital investments and slash jobs if it didn’t receive an exemption from Trump‘s tariffs.

The company builds most of its solar products in Mexico and the Philippines and has argued that the millions of dollars it would pay in import duties threatened its growth plans. After months of lobbying the Trump administration, SunPower received an exemption from the tariffs, boosting the firm’s stock price.

A Solar Slowdown?

The latest industry figures value the US solar sector at $28 billion (€24.13 billion). The industry employs more than 250,000 Americans, with about 40 percent of those working in installation and 20 percent in manufacturing. Five years ago, the sector was installing 3,000 megawatts of solar capacity annually. In 2017, the market grew by as much as 10,000 megawatts.

But experts fear this kind of growth will soon be a thing of the past. Dan Whitten, a spokesman for the US Solar Energy Industries Association, said that since January, more than $2.5 billion in solar projects have been canceled and roughly 9,000 American jobs have either been lost or have not been created as a result of the tariffs.

“If demand drops because products are artificially made too expensive for consumers, nobody wins. It’s unlikely that US manufacturing will expand enough to satisfy burgeoning demand,” Whitten told DW. “While we support new US manufacturing, companies are still going to have a hard time competing with products from overseas in the years ahead.”

Made In Jacksonville

China‘s decision to cut back installed solar capacity this year by reducing subsidies has severely affected the global market for solar panels. While surging capacity had left the country struggling to build sufficient national electrical infrastructure, cuts have forced Chinese panel makers to find new buyers overseas.

In March, Florida‘s largest utility NextEra Energy agreed to buy 7 million solar panels from China‘s leading solar maker JinkoSolar Holding. Alongside that agreement, JinkoSolar is building its first US solar panel factory in Jacksonville Florida‘s most populous city.

Once the factory reaches full production after November, JinkoSolar expects it to churn out more than 1 million panels a year for the US market.

While JinkoSolar‘s new plant will boost overall US production, modern solar panel factories are increasingly automated, and profits will likely flow offshore.

Still, city officials in Jacksonville see the new Chinese investment as a major win for local businesses, particularly in services and logistics. The adjacent port expects to handle cargo shipments of raw materials and solar panel components needed for the new plant’s operations.

“In addition to creating 250 new jobs, we expect that JinkoSolar will expand its economic impact in the Jacksonville area as the demand for solar panels in the US grows,” said Tia Ford, a city spokeswoman.

 

Source: DW

Mayfair Real Estate Advisors and Terra Group have secured an anchor tenant at Mary Street, a mixed-use development taking shape in Miami’s Coconut Grove neighborhood.

Advisory firm Kaufman Rossin agreed to occupy 64,666 square feet at the Class A project. Developers are transforming a former parking garage, with delivery slated for mid-2019. Kaufman Rossin will lease the building’s top two floors and half of the third floor starting June 2020. The firm is currently headquartered at 2699 S. Bayshore Drive, just two blocks away from Mary Street. The lease represents a 10,000-square-foot expansion, with the tenant relocating nearly 300 employees to the new location.

Co-developer Terra will also lease 13,174 square feet at the Touzet Studio-designed property, bringing Mary Street’s office component to full occupancy. Terra’s new corporate space will be on the building’s third floor and mezzanine level. Located at 3310 Mary St., the 78,000-square-foot project will feature five floors of Class A office space, ground-floor retail space and a publicly accessible, 340-space parking garage.

Pent-Up Demand

Upon delivery, Mary Street will mark the first completion of Class A office space in Coconut Grove’s business district in more than two decades. According to a JLL report, vacancy in Coconut Grove is 1.7 percent, the lowest rate in Miami Dade County’s submarkets. Amenities at Mary Street will include 24-hour security, covered drop-off and valet areas, electric car charging stations, bicycle stations and storage. Jaguar Therapeutic, OXXO Cleaners, Elia restaurant, Workout Spot and a private dentistry practice are among the signed retail tenants.

Tom Capocefalo, senior managing director with Savills Studley, represented Kaufman Rossin, while Chris Dekker, vice president with Mayfair Real Estate Advisors, worked on behalf of the development team.

“The move to this expanded, innovative space represents new beginnings for Kaufman Rossin while keeping us true to our roots in Coconut Grove,” said Blain Heckaman, chief executive officer of Kaufman Rossin, in prepared remarks.

“Our team launched Mary Street to complete the vision of a true live-work-play environment in Coconut Grove,” added David Martin, president & co-founder of Terra.

 

Source: Commercial Property Executive

Those looking for new digs in South Florida would be wise to check out one of these areas.

Here’s where luxury home buyers are parking their money.

Coconut Grove

Coconut Grove is on the tip of many Miami real estate experts’ tongues, all of whom cite a sort of rebirth in an already prestigious area.

“The city is doing a lot to revamp the area in terms of parks and restaurants, and it has more of a community feel,” says Chad Carroll of the Carroll Group at Douglas Elliman.

One reason for that is an influx of office space, which has helped make the “live-work-play” lifestyle a possibility in Coconut Grove, says Karen Elmir, president of the Elmir Group with Cervera Real Estate. New stores have also come in, and CocoWalk announced in the spring that it would be adding an open-air plaza as well as new stores and restaurants to the long-established shopping and dining center. Plus, there are plenty of new places to call home.

“There are many new high-end buildings with top-of-the-line amenities,” says Ms. Elmir, who specializes in sales in the area and has shown homes there to celebrities like models Elle Macpherson and Hannah Jeter and basketball player Hassan Whiteside.

Ms. Elmir says prices have gone up in recent years, citing sales at the Bjarke Ingels–designed Grove at Grand Bay. In 2012, she was selling residences at about $800 a square foot. Now, they’re more like $1,100 to $1,200 per square foot, she says.

“It’s one of the hottest areas in all of Miami,” says Daniel de la Vega, president of ONE Sotheby’s International Realty.

He is handling sales at the not-yet-opened Fairchild Coconut Grove, where 26 luxury condominiums range from $1.4 million to $4.6 million.

East Edgewater

East Edgewater is also making waves.

“It’s minutes away from the new Design District,” Ms. Elmir says. “It’s minutes away from Miami Beach.”

Not that one would necessarily want to leave. The area is home to several new retail options—think high-end shops and gourmet restaurant—and has sweeping views of Biscayne Bay.

“Beyond emerging, it’s developing,” says Beth Butler, president of Florida Compass. “There’s been more retail and residential action.…It’s a hot neighborhood.”

She says the condo market is especially strong. The neighborhood has single-family homes lining the side streets, as well. New residential developments include Aria on the Bay, in which Grammy Award–winning producer Timbaland bought a home. A three-story penthouse is for sale for just under $13 million.

There’s also the Biscayne Beach Residences, where Ms. Elmir is showing a $10.5 million penthouse. Paraiso, a project from Related Cos., is bringing 1,400 new condos in four towers, as well as retail options, to service the new spike in population. A new beach club and restaurant are part of the mix.

Downtown Miami

Walkability is one of the main draws of Downtown Miami, according to Jill Eber of the Miami Beach–based real estate team The Jills.

“Everything is superclose,” Jill Eber says. “It’s like a city within a city.…It’s like a little New York there.” That includes the American Airlines Arena, home to the Miami Heat basketball team, cultural centers, and plenty of shops and restaurants.

Ms. Eber says the number of baby carriages in the neighborhood has increased in recent years.

The Brightline train is now connecting passengers from downtown to West Palm Beach and Fort Lauderdale, and developers are looking to the area as another “live-work-play” location.

“Downtown shares its southern border with Brickell,” Ms. Eber says. “The whole area is seeing a lot of interest. Before, it was just a bunch of parking lots.”

The Phillip and Patricia Frost Museum of Science, which opened in 2017, and the Perez Art Museum Miami, which features modern work, are highlights of the area.

“A renewed sense of community has spurred new events and projects,” Ms. Butler says. “One new project is Canvas, a 37-story tower offering 513 fully finished apartments.”

 

Source: Mansion Global