Miami’s Latest Reinvention Is Futuristic and Forward-Thinking
Sep 12, 2020 | By: LX Collection
While Miami has undergone radical transformations over the years, its balmy weather, permanent vacation vibes, and status as a cultural mecca continue to lure new residents looking for a luxury tropical lifestyle.
Decades of Reinvention
They call Miami “the Magic City.” After Henry Flagler’s railway brought Miami its first major expansion, it became a bona fide city overnight—like magic—and continues to reinvent itself decade after decade, showing no signs of slowing down. In the 1980s, Tony Goldman transformed South Beach from a modest retirement neighborhood to a globally coveted vacation destination and then, in 2004, began redeveloping Wynwood into what would become a world-class arts district spanning several blocks. Craig Robins came onto the scene in the 1990s, and his metamorphosis of the Miami Design District continues to unfold today and attract luxury brands like Balenciaga, Hermes, and Dior, which have set up flagship stores there. Last year, before the onset of COVID, Miami was ranked the fastest growing real estate market in the United States and fifth in the world. A Douglas Elliman report found that the average sale price of a luxury Miami Beach condo reached $4,553,993 in the first quarter of 2019, up from $4,290,644 in the previous year. But in 2020, prices have either remained flat or decreased, indicating a buyer’s market. Favorable tax laws continue to draw high-net-worth individuals from overseas to the tropical weather, year-round aquatic lifestyle, and culturally diverse milieu that the city offers.
Miami’s Luxury Condo Scene
A far cry from the art-deco silhouettes and Miami Vice pastels of the past, the new luxury condominiums being designed and built along the waterfronts are futuristic and forward-thinking, rivaling the most famous cosmopolitan city skylines and beckoning award-winning architects to leave their mark on the Magic City. The late Zaha Hadid’s first residential tower in the Western Hemisphere, One Thousand Museum, towers over Museum Park with its exoskeleton facade. Luxury Italian fashion house Missoni brings its colorful, whimsical inspiration to its residential venture Missoni Baia in Edgewater along Biscayne Bay. Piero Lissoni’s waterfront Monaco Yacht Club & Residences recalls the French Riviera. And Porsche Design Tower in Sunny Isles Beach allows residents to drive their vehicles into a glass elevator observatory and ride right up to their home in the sky. Five-star resort-style amenities like state-of-the-art fitness, spa, and wellness centers, Olympic-sized pools, helipads, and yachting facilities offer a way of life that makes the question Why Miami a breeze to answer.
A far cry from the art-deco silhouettes and Miami Vice pastels of the past, the new luxury condominiums being designed and built along the waterfronts are futuristic and forward-thinking.
Miami’s enclaves offer something for everyone—from Coconut Grove’s world-class sailing and Coral Gables’ smattering of historic places to the museums, private collections open for viewing, and art galleries throughout Downtown, Wynwood, and Little River. The luxury design and fashion boutiques found throughout the Miami Design District (an art installation unto itself), Brickell City Centre, Miami Ironside, and the Bal Harbour Shops are another enticement. And the front-row seat Miamians have to Art Basel and its auxiliary shows makes Miami a collector’s paradise.
As an international hub, Miami’s world-class food scene offers no shortage of flavorful cuisine to excite the palate. Celebrity chef-led restaurants serve up everything from fresh seafood to authentic Argentinian asado, nostalgic Cuban dishes, and more.