Step into Miami’s urban core and experience the best that this city has to offer. With an array of shops, restaurants, and cultural venues, Downtown Miami is one of the most-visited places in Florida.
But it’s not just for tourists – according to the Miami Downtown Development Authority (DDA), the Greater Downtown area is home to more than 92,000 residents as of 2018. That number is expected to increase by 19% percent by 2021, totaling 109,617.
According to the Miami Herald, 45% of the population is made up of young professionals between 15 and 44 years of age, though a growing number of families are making the Downtown area their home.
If you enjoy urban living in a walkable area that gives you access to big city conveniences, look no further than Downtown Miami. Developers have been building it up as a global brand over the last few years, with a premier live-work-play location in mind.
Public transport is affordable – the Metromover will take you to various stops across Downtown and Brickell for free. The Metrorail extends from Dadeland to Miami International Airport, while the Brightline train will carry you up to Fort Lauderdale and West Palm Beach, with plans to extend all the way to Orlando.
As one of the first areas to be developed in Miami in the 1890s, Downtown strikes a fine balance between old and new – a quick drive around town will give you a glimpse of historic buildings and newly constructed high-rises standing side by side. It was the site of Miami’s first development boom between 1910 and the 1920s, with Flagler Street as the epicenter of remarkable growth.
Downtown Miami encompasses 3.8 square miles of land located west of Biscayne Bay, east of I-95 and north of the Miami River. Apart from the central business district, “Downtown” is also often used to refer to centrally located neighborhoods like Brickell, Edgewater, Midtown, Wynwood, and the Arts & Entertainment district.
Real Estate in Downtown Miami
The Downtown Miami skyline is constantly changing – experts believe that the Biscayne Bay’s waterfront will be home to over $10 billion worth of development projects by 2020. Areas that went untouched for decades are now being acquired and developed, with the demand for residential and office space being driven by population growth.
Highly-anticipated projects, such as Zaha Hadid’s One Thousand Museum, are currently in the pipeline. Historic properties like Metro Mall and the old Walgreens building have been sold to developers.
New condos are entering the market, with as many as 3,500 units having been delivered in 2017 alone.
There is a surplus of condo inventory in the high end of the market, giving buyers an array of options that they won’t find anywhere else. Most of the surplus falls within the sub-$2 million segment of the luxury market.
Overall, there has been a good balance between demand and development, and financial institutions have tightened their requirements for mortgages – both of which indicate that the downtown area is on stable footing for the long-term. Greater Downtown Miami as a whole is a good choice for those who want to explore the rental market.
If you want to live in Downtown Miami, Brickell Condo Real Estate would be happy to assist you. Call 610.428.3913 or send an email to Info(at)BrickellCondoRealEstate(dotted)com.
Living in Downtown Miami
The downtown area gives you access to these attractions and more:
- Perez Art Museum Miami (PAMM) –The museum brings you rotating exhibits and educational programs throughout the year. The permanent collection features artworks by artists like Carmen Herrera, Leonardo Drew, and Sheila Hicks.
- Museum Park – At 30 acres, Museum Park is an oasis in the heart of Downtown. Here you’ll find the Perez Art Museum, which displays artworks from the 20th and 21st centuries, and the Phillip and Patricia and Frost Museum of Science, which is home to a 250-seat planetarium and an aquarium that harbors corals and Gulf Stream sharks.
- Bayfront Park – Located south of Bayside Marketplace, Bayfront Park spans 32 acres and includes a sandy beach, bay walk, a rock garden with water features, a playground, fountain, and the Light Tower. Park highlights include the Amphitheater, Tine Hills Pavilion, and Museum Park.
- American Airlines Arena – Home of the Miami Heat, the arena hosts various events like basketball games and concerts. Artists like Marc Anthony, Travis Scott, and Elton John have held performances here.
- Miami Riverwalk – Go on a leisurely stroll along the Riverwalk, which commands views of the Icon Brickell Complex and Brickell Avenue Bridge as well as the Southeast Financial Centre, Florida’s tallest office building. It is the site of the annual Downtown Miami Riverwalk Festival and Boat Parade, which features food vendors, live music, and pageantry.
- Olympia Theater –This historic performing arts center hosts concerts, drag shows, literary events, and other live performances that you won’t want to miss.
Downtown Miami Real Estate
Featured Buildings in Downtown Miami
- 900 Biscayne Bay
- 50 Biscayne
- Aston Martin Residences
- Epic Residences
- Loft Downtown I
- Loft Downtown II
- Marquis Residences
- Met 1
- Okan Tower Miami
- One Miami
- One Miami-East
- One Miami-West
- One River Point
- One Thousand Museum
- Paramount Miami Worldcenter
- Parc Lofts
- Ten Museum Park
- Yotelpad Miami