South Florida's Current Developments and Growth

Known as the "Florida Gold Coast," South Florida has been one of the most popular destinations to travel and stay. Two of its coastal cities - Miami and Fort Lauderdale, offer all types and sizes of accommodation with a diversified range of entertainment activities, from beaching to clubbing.

To keep up with the demands, several projects are currently being built in South Florida that will help shape the future of this region. If you're planning to visit or move to South Florida but are doubtful of your decision, read this article to explore the future scope of Florida in terms of development.

South Florida's current developments and growth

If you're looking to get away from the hustle and bustle of the city, look no further than South Florida's current developments. Check out the projects taking place today in South Florida that will make life better for everyone here.

1.     57 Ocean, Miami Beach

57 Ocean is a new luxury condo development located on the south side of Miami Beach. The building will have an average price tag of $5 million, including private balconies, swimming pools, and a fitness center. It is scheduled to open in 2021.

2.  321 at Water's Edge, Fort Lauderdale

321 at Water's Edge is set to become the newest addition to Fort Lauderdale's growing downtown area. The building will feature 422 condos ranging from 500 square feet to 2,400 square feet with prices ranging from $450K-$1.4M. It is scheduled to open in 2020.

3.  3550 South Ocean Drive, Palm Beach

3550 South Ocean Drive is a new condo development scheduled for completion in 2022. It will feature just over 300 units ranging from 700 square feet to 3,500 square feet with prices ranging from $750K-$3M+. The development is expected to be located in Palm Beach County, just north of Palm Beach International Airport.

Bottom line: Miami and Fort Lauderdale are growing

1.     Young And Growing

Miami is a young city as the land that now makes up Miami was not settled until 1896 but was officially incorporated as a city in 1915. Meanwhile, Fort Lauderdale can be considered a growing city, progressing at a much slower pace than Miami. It wasn't founded until 1910 and didn't become an official municipality until 1921.

However, the city of Miami, the central part of South Florida's metropolitan area, has been growing and developing for over one hundred years.

 2. New Infrastructure

Miami is experiencing significant growth in the area of infrastructure. As per the recent update, Miami airport is getting a new terminal, which is going to be the largest single-terminal building in the world. However, the government also has plans to add new trains to the metro area that will run from downtown to Aventura and Kendall.

3. Increased Rent and Prices

The growing housing demand has resulted in a sudden increase in rent and property prices in Florida. This means that while some people may be able to afford these new developments, others won't be able to invest due to limited finances.

Because of the diverse economy, Fort Lauderdale is also home to many well-known companies like Carnival Cruise Lines headquartered. Another thing that makes Fort Lauderdale so attractive for young people is its nightlife scene, as there are tons of bars, clubs and restaurants that offer entertainment all day long.

South Florida is a growing city, and it's best to get in now!

If you want to buy in south Florida, now is a great time to do so. Not only is the market hot, but also growing rapidly, which says prices will go up soon in the future.

Although there are many homes available for sale here, it's essential to do your research before making any decisions. With employment taking its curve, employment opportunities continue to grow every year here, contributing to its economy. However, housing remains affordable, which makes owning property an attractive option for seasonal investors.

Conclusion

South Florida is a growing city, as you can see the construction going on all over town, including new developments and infrastructure projects.

There's no better time to invest in this city and grab an investment opportunity before anyone else.