November 16, 2017
The Wynwood neighborhood in Miami is not only one of the trediest places in the city, but it's also home to the most upcoming apartment development. According to a Real Deal analysis, the Wynwood area was the most active in terms of new multi-family development, with more permits filed with the city than any other area. In the Wynwood-Edgewater-Midtown Miami area, the city’s building department recorded four new projects with a combined 727 units. The area already has a number of new buildings in the works including Wynwood 25 and Wynwood 26.
Downtown Miami, including Brickell, is next on the list with the second highest sales volume of planned multi-family development this year with two projects totaling 673 units. The Flagami neighborhood ranked third on the list and Little Havana ranked fourth.
Multi-family construction has been on the rise in South Florida, and across the country, over the past two years. The seasonally adjusted rate of apartments under construction in the U.S. hit 596,000 in September, almost double the long-term average of 300,000, according to the U.S. Census Bureau.
Source: The Real Deal
