During the last decade, investments in Miami where mostly concentrated on Miami Beach. However things have recently changed as Miami Downtown is becoming a central hub for international investments.There are several reasons explaining this new trend. First of all, attractive real estate prices have pulled investors to this area. Then, commercial spaces have started to fill up thus creating even more desire to live in that neighborhood. Finally, thousands of job creations in the Brickell and Downtown area enticed residents to move in the area. Definitely Downtown became the place to be. Stay alert, the best is yet to come.
The upcoming huge investment projects will bring to Miami Downtown some new growth opportunities. For example, the $700 million Brickell CitiCentre project will break ground in the second quarter of 2012. This housing, stores and hotel complex is the biggest works private project that will be built in the USA next year. It is going to be almost double the size of the Sawgrass Mills shopping mall. New preconstruction projects as MyBrickell include in their sales strategy the proximity to Brickell CitiCentre. Moreover, the $3 billion Resorts World will bring thousands of additional visitors per year. It is expected to create 15,000 construction jobs and another 30,000 once completed.
Of course such new developments initiate a debate on Miami’s infrastructures capacity to accommodate a huge growth in tourism and population.