Miami: a destination for all seasons
With new residential towers, a growing number of luxury hotels and a vibrant business climate, Miami is one of the worlds top "live-work-play" destinations. Whether relaxing on the beach, boating on Biscayne Bay, dining at top restaurantsor sealing a multimillion-dollar business dealMiami offers a warm subtropical lifestyle with a unique Latin flavor.
"Miami-Dade is made up of a diverse, multicultural population that attracts new residents from Latin America because of the comfort level they feel in the area," says Frank Nero, president and CEO of The Beacon Council, Miami-Dade Countys economic development partnership.
Among the steady flow of newcomers are Fortune 500 corporate executives, sports and entertainment celebrities, successful entrepreneurs, and seasonal visitors coming to Miami-Dade for business or pleasure.
"The buzz now is that Miami is hotter than ever," says William D. Talbert III, president and CEO of the Greater Miami Convention & Visitors Bureau (GMCVB). "Miami is recognized as a fashion-forward destination, from its chic boutique and luxury hotels, to its cuisine and nightlife, to its many cultural offerings."
Construction is now under way on Miamis strikingly designed Performing Arts Center, which will add to the communitys cultural offerings when it opens in 2006. Already, events like Art Basel Miami, Coconut Grove Arts Festival and the Miami International Film Festival demonstrate the areas international appeal to connoisseurs of the arts.
Visitors of all types are clearly responding to Miami-Dades diverse appeal, as tourism has rebounded from the post-9/11 slowdown. Last year, Miami-Dade attracted more than 10.5 million visitors, including 4.8 million from Latin America, the Caribbean, Europe and Canada, according to the GMCVB.
A boom in high-end hotel construction has strengthened Miamis appeal to sophisticated travelers. The citys new luxury hotels include the J.W. Marriott, Four Seasons and Mandarin Oriental, as well as the Conrad Miami, Hiltons top-of-the-line brand, which opened last year on Brickell Avenue.
Many frequent visitors are purchasing condominium hotel units that serve as a home away from home. "We are expecting 2005 to be another strong year for our development and for Miamis marketplace in general," says William Ross, president of Estoril, the developer of Espirito Santo Plaza, a new multi-use building with 116 condo-hotel residences managed by the Conrad chain.
Throughout Miami-Dade County, new residential condominiums, loft and townhome projects, and apartment buildings being converted to condos are bringing new lifestyle choices. In downtown Miami alone, an estimated 20,000-plus new multifamily units are under construction or in the planning stages.
"With construction booming in Miami-Dade County, hundreds of thousands of dollars are coming in from domestic and foreign investors," says Nero. "Thousands of the buyers and investors are attracted to the area by metropolitan living with average prices well below those of other major metropolitan areas in the United States."
More than half the countys 2.3 million residents are foreign-born, reflecting Miamis long-standing cultural ties to Latin America and the Caribbean. Virtually every nation of the AmericasVenezuelans, Argentines, Brazilians, Colombians and a growing stream of Mexicansis represented in Miami-Dade.
"Latin Americans comprise a large portion of foreign investors because of the proximity to Central and South America, the strong Latin influence in Miami-Dade, and the assortment of entertainment opportunities the area offers," says Nero. "With various foreign consulates, international banks, and multinational corporations calling Miami-Dade home, Latin Americans can enjoy all the amenities Miami-Dade has to offer, while conducting their lives as they would in their native countries."
Since the 1970s, one of Miami-Dades primary appeals to international residents has been its globally oriented business community.
Multinational corporations, import-export companies, international banks and major law firms have long been attracted by the countys strategic position at the crossroads of the Americas.
After hosting the Summit of the Americas in 1994, Miami has played a leading role as the site of hemispheric and regional free trade negotiations. With its convenient airline schedules, telecommunications facilities and multicultural workforce, Miami is considered by many as the natural choice for the permanent Secretariat of the Free Trade Area of the Americas (FTAA)
As a not-for-profit, public-private organization that focuses on job creation and economic growth, The Beacon Council coordinates community-wide programs, promotes minority business and urban economic revitalization, provides assistance to local businesses in their expansion efforts, and markets Greater Miami throughout the world.
In the past year, The Beacon Council assisted 44 companies that will add 2,640 new jobs and more than $88 million in new capital investment to the local community. Newcomers include Kraft Foods International, PROEXCA Miami (the Office of Trade & Investment for the Canary Islands) and Mobis Parts America, a Korean auto parts subsidiary of Hyundai. Mobis recently established its Latin American headquarters in Miami-Dade County.
"Recently, Miami-Dade County has seen a steady increase of companies from Asia opening operations here," says Nero. "We really are the business center of the Americas, and we are pleased that Mobis Parts America has chosen to locate in our community."
As the economies of Latin America grow, Miami-Dade County will remain a global gateway for investment and trade throughout the region. And with its new hotels, residential condominiums, and visitor attractions, Miami will strengthen its position as one of the worlds top live-work-play destinations.
With its award-winning design, luxurious condominium residences, rapidly filling office space and upscale Conrad Miami hotel, Espirito Santo Plaza is enjoying unprecedented success on Miamis Brickell Avenue. "Our vision of excellence for Espirito Santo Plaza is now a reality," says William Ross, president of Estoril, the developer.
Honoring the 36-story mixed-use buildings dramatic contemporary design, the Miami chapter of the American Institute of Architects (AIA) recently named Espirito Santo Plaza as one of the ten best buildings constructed in Miami in the past 75 years.
"Sales are strong on our 116 fully furnished condominium-hotel residences, as our first owners move in," says Ross. Residents enjoy the benefits of ownership with all the amenities of the popular 203-room Conrad Miami, Hiltons global luxury brand, including suite management when they are not in residence. In addition, nearly all the Class A office spaces at Espirito Santo Plaza have been reserved by an international roster of premier tenants. For more information, please contact Euroatlantic Realty at 305-371-3500 or info@espiritosantoplaza.com.
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