Don’t be fooled by all the development and growth happening in downtown Miami as big investment opportunities are in store in more suburban areas, experts said. When hype about real estate growth in a certain area gets to be too much, it’s time to look elsewhere. This seems to be how things go in real estate, and South Florida is no exception. This year big-name developers turned to somewhat forgotten and traditionally unexciting areas for new office and retail projects. And despite all the chatter about downtown redevelopment and population growth, it was the suburbs that boasted high multifamily rent growth
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Coconut Grove, Miami’s bohemian beauty by the beach, is the Florida city’s oldest continuously inhabited neighborhood. Founded in 1873, it’s as intoxicating as its tropical-theme name. In the last three years, its residential and commercial markets have been undergoing a revitalization that has raised its profile. “Coconut Grove,” the 1967 tune by The Lovin’ Spoonful, where “nothin’ matters/No mad, mad world and no mad hatters,” sums up its leave-your-worries-behind-and-be-happy appeal. Coconut Grove is, indeed, the perfect place to go on permanent vacation: The lifestyle is laid back, the landscape is lush and the living is luxurious. Coconut Grove is bounded
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