News

Property investors think this industrial Miami nabe is about to blow up

February 14, 2025

Originally published in the New York Post by Perri Ormont Blumberg

The so-called MPD is shedding its industrial roots and packing its blocks with luxury retail and real estate. For instance, the Cassia Residences broke ground earlier this year with plans to deliver a 12-story building. Alta Developers

Miami is a city of perpetual “Next Big Things.” So it’s no surprise that a once meh industrial area studded with warehouses is now bubbling up as the hottest ’hood for luxury living, retail and dining. Introducing, Merrick Park.

Situated smack-dab in the middle of Coral Gables, easily one of the ritziest home market in the US, the Merrick Park District (MPD for shorthand) is seeing a new wave of residential projects, including Merrick Manor, the Henry, Belmont Village, the Watermark, LifeTime, and the latest, the Cassia Residences.

Brown Harris Stevens broker Philippe Diener has personally called the area home for more than 30 years, and he’s witnessed the rapid, yet architecturally tasteful, transformation first-hand.

Even the shopping area has a distinctly Mediterranean feel. [Getty Images]

“The new development in and around the MPD reflects the area’s historic, Mediterranean style,” said Diener, noting that the area’s aesthetic is an antidote to bland contractor-modernism.

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