The Development Renaissance Transforming Miami\’s Oldest Neighborhood

/ COMMERCIAL, INDUSTRY NEWS / By

\"\"Considered the oldest neighborhood in Miami, the lush historic enclave of Coconut Grove is becoming a bustling hotspot once again.

Investors and developers\’ interest in the residential and commercial markets have raised the neighborhood\’s profile.

The Grove\’s massive transformation has attracted Starchitect-designed condos, stylish retailers, untapped waterfront programming, chef-driven restaurants, and companies from around the world.

Here are some of the projects spearheading Coconut Grove\’s development renaissance:

  • Luxury Condominiums: New towers designed by Bjarke Ingels (Grove at Grand Bay) and Rem Koolhaas\’ OMA (Park Grove, nearing completion), as well as Mr. C Residences, have jumpstarted the area\’s residential market, setting record prices for condo sales and drawing new residents including families, young professionals, and empty-nesters in search of a village-like vibe.
  • Mixed-Use Developments:
    • Regatta Harbour—is a retail and industrial project designed by Arquitectonica with direct water access that is revamping historical Dinner Key. Sitting on 9.5 acres, Regatta Harbour transforms the neighborhood\’s waterfront with chef-driven fine dining concept, Afishonado by local celebrity Chef Jeremy Ford, boutique and flagship retail, high-end gym Anatomy Fitness, and a new marina with dry story racks (recently completed). The $33 million-dollar project will be delivered in multiple phases, with the retail and waterfront restaurants slated for a 2021 delivery.
    • CocoWalk— the open-air plaza built in the early 1990s is undergoing a redesign attracting high-end boutique shops, service-oriented businesses, and a roster of new restaurants, such as Sushi Garage, Mister 01 Pizza, and Los Generales Mezcal & Grill by \”Top Chef Mexico\” Judge, Chef Aquiles Chavez.
  • Class A Office Space: Three new Class A office buildings are either under construction or nearing construction for the first time in 30 years. With high-tech infrastructure and a highly desirable location, 2850 Tigertail Ave, Mary Street, and One CocoWalk are attracting a wide range of tenants, including The Related Group, Kaufman Rossin and co-working company Spaces.

 

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