Brickell and Edgewater Are the Fastest Growing Neighborhoods
Feb 27, 2015 February 27, 2015
The residential units of Brickell and Edgewater are growing the fastest out of all of Miami’s Greater Downtown area.
The Miami Downtown Development Authority released its Greater Downtown Miami Residential Real Estate Market Study. There were six submarkets in the study: Brickell, the Central Business District, Arts and Entertainment, Edgewater, Midtown, and Wynwood.
In total, there were 14,500 residential units that are in the planning phase, which causes the assumption that there will be a fuller downtown in the years to come.
The top two growers were Brickell and Edgewater, which are expected to grow 27% for Brickell and 67% for Edgewater. Edgewater is topping the list now mainly because of the low number of units it currently has.
“It’s kind of miraculous to have such a beautiful area of waterfront property that was so untouched in a city as beautiful as Miami,” Alicia Cervera Lamadrid, real estate broker for Cervera Real Estate said.
Edgewater’s focus is important to note, since there is a lot of waterfront property that has been purchased elsewhere, but not in Edgewater.
“As prices go up on the beach, East Edgewater is actually a very good deal. You’ve got beautiful views, waterfront parks,” Barbara Salk of Sakor Development said, “In terms of people that will move into East Edgewater, its people who have options.”