DOWNTOWN PROPERTY IS ON THE RISE

There was a time when Downtown Miami was a less than desirable place to live or visit.

However, it paints a very different picture today, thanks to the sizeable investment and rejuvenation it has experienced in recent years.

Undergoing a seismic ‘rags to riches’ transformation, today downtown is booming with; Miami luxury real estate, a bustling night life, new shops, parks and museums and a growing influx of local and international residents.

If you’re one of the many thinking about relocating your home or business downtown, here’s a few reasons you might want to jump on the trend.

Financial and Tech Hub

As the second largest financial hub in America, there are more than 160 financial firms in the area. But there’s also a growing tech scene emerging, with the area attracting entrepreneurs and new businesses, supported with plenty of local start-up funding. This may have some impact on the growing city skyline, with more skyscrapers than ever before.

It’s also now a hip spot for after-hours meeting up. Where once workers would head out of downtown after a day in the office, today there’s a number of bustling places to eat and drink after hours, such as Mary Brickell Village, helping to keep the buzz alive 24-7.

There’s no sign of slowing down either.

When the Miami WorldCenter opens in 2021, downtown will further welcome businesses with this major convention location, offering a number of world-class features. Plus, there’s other constructions on the horizon, including the anticipated build of ‘Inter Miami CF’ stadium for David Beckham’s soccer team.

miamiworldcenter

Arts and Culture

From Miami luxury condos to its open spaces and galleries, stylish living has always been at the heart of Miami life, and it continues to evolve…

Extending its cultural scene, downtown Miami has seen a number of great venues open up in recent months and years. This includes the revered Pérez Art Museum bringing a new edge to contemporary art. As well as the Adrienne Arsht Centre, which has seen world-class talent, such as Tony Bennett perform live recently. And not forgetting the Patricia and Phillip Frost Museum of Science; a leading science museum housed in equally impressive buildings.

There are many more exciting things to come, including the imminent opening of SkyRise Miami. The huge observation dock will be a hub of entertainment spread across three observation docks including; fine-dining, a nightclub ballroom and conference meeting rooms, as well as exciting rides – Las Vegas style!

A great place to live

Testament to it being a great place to live, Miami’s downtown population has doubled in less than 10 years. With this new wave of urban living, there has been an influx of new bars, shops and restaurants to keep up with the growing demand, seeing young families and investors moving to the fledgling area.

With the opening of Brickell City Centre downtown was given a boost of credibility putting it on the map as a destination for high-end shopping.

As more residents see the potential in downtown, Miami luxury condos remain ever-popular in the area. Today the median price for a property in downtown is $375,800 which is competitive against the average price of Miami beach homes for sale with a median value of $377,600.

With so much buzz, a vibrant nightlife and plenty to see and do, downtown offers the perfect work-life balance. It’s no surprise really that this new way of urban living has become highly desirable.

Villazzo Realty can help you with building, buying and investing in ultra-luxury properties. For more information, get in touch with our dedicated luxury real estate agent today.