Architecture & Real Estate | January 15, 2023 5:56 am

Notable Architecture and Michelin Stars Make Coconut Grove a Hot Destination

An interesting blend of old and new

Coconut Grove
In an aerial view, homes (in the middle) Zillow shows were sold for 2,250,000 dollars in the Coconut Grove neighborhood on February 18, 2022 in Miami, Florida.
Joe Raedle/Getty Images

From city to city, certain neighborhoods wind up tapping into something that makes them irresistible. Sometimes that can be hard to quantify; at others, it’s relatively easy to pin down why a neighborhood or district has suddenly become hot. A new article in The Hollywood Reporter explores the rise of Miami’s Coconut Grove neighborhood — which, the article notes, has been seeing a steady increase in home values, up to a $2 million median price by November 2022.

What’s responsible for this? The article makes a number of good arguments, from the climate to the walkability. But it also sounds like there’s an even simpler reason for why people are clamoring to live and dine there — there’s been a lot of money put into making the neighborhood a destination.

This has led to two Michelin-starred restaurants, Ariete and Los Félix. But the last few years have also seen an uptick in high-profile, high-end residences — two 20-story buildings made from twisting metal, for instance, or a number of retro-futuristic residential structures elsewhere in the neighborhood.

The Hollywood Reporter‘s article cites a redevelopment project that cost $150 million as being at the heart of the neighborhood’s increased profile. At present, it seems to have reached a compelling equilibrium between historic and modern — an impressive balance, if you can achieve it.