WHY DOWNTOWN MIAMI AND BRICKELL ARE ATTRACTING YOUNG DWELLERS
We live in a time where ‘millennials’ are considered the mecca for marketers. They are our future after all. Yet one area that is effortlessly attracting young professionals and new families is Downtown Miami and Brickell – the latest hip place in Miami luxury real estate.
The urban neighborhoods benefit from a privileged coastal position with views across the water to Miami Beach. They also benefit from a slightly cheaper price-tag, offering greater value for money per square foot; as much as $691 per square foot downtown, compared to more than double the cost of $1,500 per square foot in the Miami Beach area.
Brickell and Mortar!
But it’s more than just the average price tag of $394,000 that’s attracting young investors to Miami beach real estate in this area. Investment in business over the past few years, has made it a fun and practical place to live today.
With a growing population of 29,694 residents, Brickell caters to the trendy urbanite that appreciates the fine balance of work and play. This financial district makes it accessible to those who work in the city, yet want to avoid the heavy traffic nearby. There’s also plenty of distractions, with bars, coffee shops, clubs and restaurants, including a Four Seasons Hotel.
But there’s also plenty of outdoor space too, which makes it especially appealing to those with younger families, with Brickell Key Park and Simpson Park firm favorites.
Downtown on the Up
Downtown has seem somewhat of a transformation in recent years. This has all had a knock-on effect on its population, which has reached an all-time high of 92,235 residents – that’s more than 65 per cent since 2000-2010. This is set to only increase, with forecasts projecting the figure to rise by 19 per cent by 2021.
As well as its great connections within the local area, Downtown is well located to the many public schools with above average standing. Many will know that it’s home to Miami Dade College and Miami Main library, as well as a number of sporting venues. Plus, it’s also within easy reach of the private schools in Coconut Grove. This has made it a prime target for families in Miami beach real estate circles.
For those who want to avoid the commotion of South Beach, there’s much to be enjoyed in its slightly quieter beaches, many of which are pet friendly too.
A much-enjoyed rarity for the State, it’s a walkable neighbourhood, with everything in easy reach. This makes it welcoming to families that enjoy the ease of getting around, with plenty of room to grow!
Many have noted its boutique shops and great restaurants that rival those in its famous sister Miami Beach; such as Brickell City Centre which has brought luxury shopping and a new type of clientele to the area.
Building a community has been at the heart of this boom according to Christina Crespi, acting director of the Miami DDA, who said: “Ten years ago, we were focused on building downtown Miami as a global brand. Now we’re focused on serving the people who live here. A lot of millennials have grown up and now have kids. We’re creating a sense of community so people who live in downtown don’t want to leave.”
Whether you’re looking for affordable luxury condos for sale in Miami, or a property to rent, Brickell and Downtown have become worthy contenders in Miami’s lucrative real estate market.
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.