Coconut Grove Is THE Hotspot To Live In Miami According To Variety Magazine

 
Brace yourselves for more artistically-inclined neighbors coming soon! Variety Magazine, the de facto resource for all entertainment industry news since its inception in 1905, has declared Coconut Grove as the real estate hotspot for those in the Miami area.

With a print circulation of over 63,000, 6 million social followers and 27 million unique digital visitors, Variety.com is without a doubt the authority for those in the entertainment industry. This includes film and television, podcasting and digital entertainment, music, tech and more. It is “a powerful publication in every conceivable aspect. Variety stands as a monument to the entertainment industry,” according to judges from the National Arts & Entertainment Journalism Awards.

With California being a hotbed for outbound movement toward more tax-friendly states, we welcome our west coast friends with open arms. Coconut Grove is a great place for someone who hails from Los Angeles. With our quirky and artsy vibe, proximity to the ocean and upscale bohemian tendencies, Coconut Grove can be compared to Los Angeles’s Pacific Palisades region.

Coconut Grove Homes

“I personally believe Coconut Grove is one of the most sought-after neighborhoods in the entire country. People feel a sense of place and community here. It’s a neighborhood where people can plant a flag,” says David Martin, CEO of Terra Group, to Variety.com.

Martin’s Terra Group is the developer behind several architecturally distinguished projects along Bayshore Drive in Coconut Grove. Grove at Grand Bay was completed in 2016 with dual twisting towers overlooking the bayfront park. Here you can find residences designed by Bjarke Ingles that offer spacious layouts currently being offered between $3.5 million – $12.5 million.

Grove at Grand Bay

Terra Group is also responsible for Park Grove, which also takes advantage of the bay views and walkability of the burgeoning community. Buyers here can choose between several buildings that were opened between 2018-2020 and all were designed by starchitect Rem Koolhaas/OMA. Mr. C Residences is also in Terra Group’s portfolio and is already sold out prior to its completion later this year.

Park Grove Residences in Coconut Grove, Florida

For those who prefer an additional dollop of privacy combined with their waterfront living, Vita at Grove Isle will be appreciated. This is a new boutique development that is beginning construction this month on the private 20-acre island of Grove Isle. With just 65 spacious and fully-serviced residences featuring a tranquil waterfront aesthetic, new owners will be able to move in starting early 2025 with purchases between $5 million and $10 million.

Vita at Grove Isle Boat Dock Rendering

Aside from the newly constructed luxury towers, new residents also have a choice of a variety of single family residences. There are historical homes in Spanish Revival or Midcentury Modern designs, as well as contemporary and minimalistic homes that are of newer construction. Ken Griffin, the founder of Chicago’s Citadel has chosen not one but two waterfront homes for his relocation to the sunshine state with his purchase of philanthropist Adrienne Arsht’s waterfront Coconut Grove compound for $107 million last year.

Coconut Grove Entertainment

There is a lot more to an A+ neighborhood than just beautiful real estate. Variety also recognized the renaissance that is underway in the retail & dining district called CocoWalk. The 1990’s-built outdoor mall had fallen into disrepair and despair, but after being purchased by a new investment group who partnered with private developers and utilized a $10 million FEMA grant after Hurricane Irma, it is now a bustling attraction once more.

In addition to the upgrade/update of CocoWalk, the City of Miami has overseen a $70 million renovation of Dinner Key Marina. This provides sleek and chic waterfront eateries, boat docks and a slew of new retail outlets. Just around the corner, the iconic Mayfair House Hotel & Garden has been retrofitted to the tune of $50 million and added a rooftop bar/lounge and 179 updated guest suites.

Mayfair House Lobby Coconut Grove

Despite all of the new towers and renovations, some of the more popular traditions are being kept alive. The Coconut Grove Art Festival remains one of the city’s most well-attended events each spring. The last Sunday of the year also brings the quirky and fun King Mango Strut, the community’s “Satirical Stroll” where attendees are encouraged to dress in theme, poking fun at pop culture, politics or any newsworthy event of the year. It is always a good time for easy laughs.

Coconut Grove Arts Festival 2022

Coconut Grove Neighborhood

All of this family fun and fortunate living is wrapped up in a perfect little location that is so close to Downtown Miami and Brickell that you can really get by without a car if you have that craving. It is the only place in Miami that will offer such proximity to the business center, has great schools and a thriving community of “stealth wealth” options for down to earth families to bloom together. We can certainly see how Variety would choose Coconut Grove as THE place in Miami for Los Angeles to lose residents to.

Being local Groveites for nearly 15 years, we welcome newcomers with open arms and all of the market knowledge/stats you might need or want when deciding were to settle down.

A Must Read: The Essential Guide to Coconut Grove Restaurants

If you are interested in learning more about life in Coconut Grove, please contact Michael Light, Grove resident as well as Broker and Executive Director of Luxury Sales at Douglas Elliman Real Estate. We would love to have you as a neighbor.