Close to Beaches and Galleries, Edgewater Is at the Pulse of Miami Apkmusk

Situated along the bayfront just north of Downtown Miami, the once sleepy residential neighborhood of Edgewater is now at the pulse of everything that makes the city an attractive place to live: The enclave is close to beaches, cultural attractions, the Design District and Miami International Airport. 

These days, it also offers its own appeals such as a slew of new, sleek condominiums, an active, outdoorsy lifestyle and buzzy restaurants. Prior to the financial crisis, Edgewater was considered a forgotten part of Miami that consisted of older homes and low and mid-rise buildings, according to Miami-based Compass real estate agent Liz Hogan, who frequently sells in Edgewater. 

“In 2006, the transformation began when a few developers saw the potential to build luxury high-rise condo buildings that could take advantage of the waterfront, which has some of the most stunning views in Miami overlooking the bay toward Miami Beach,” she said.

An influx of younger buyers and renters moved in, and shops and restaurants followed. At the same time, the Design District, Midtown and Wynwood saw their own revitalization. Ms. Hogan said that each of these neighborhoods supported the development of the other. 

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Boundaries

Edgewater is located north of Downtown Miami and east of the Design District. The neighborhood is situated directly on Biscayne Bay and stretches from the Venetian Causeway, at 15th Street and Biscayne Boulevard, to 36th Street. “It’s only about 21 blocks long, which is small compared with other Miami neighborhoods, and you can walk the span of it in 25 minutes or so,” said Elliot Machado, a broker associate with ONE Sotheby’s International Realty in Miami.

Price Range

Edgewater’s decade-old condos command considerably lower prices than their newer, glitzier, counterparts, Ms. Hogan said, with the average cost running between $500 to $600 per square foot. 

Newer properties such as Missoni Baia, a condominium project that’s debuting this spring from the Missoni fashion house, cost $1,200 or more a square foot. Mr. Machado said that the price range of condominiums ranges between $400,000 and $15 million, with the average price being around $1 million.

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Housing Stock

Edgewater consists primarily of condominiums.

“The desirability of the area and the population exploded with many luxury condos being built to accommodate the demand,” Ms. Hogan said.

Paraiso Bay, comprising four towers, is an example and features a lineup of eye-popping amenities such as a swimming pool designed like a lagoon, a movie theater, a beach club and a cigar lounge.

And the boom is far from over: In addition to Missoni Baia this spring, Edition Residences, the hotel brand’s first standalone residences, is slated to begin construction this summer. Designed by the acclaimed architect Bernardo Fort-Brescia, the 55-story tower will feature more than 800 feet of bay frontage and 185 condominiums, including three triplex penthouses, each with a private rooftop and garden.

Aria Reserve, with 2 acres of amenities, and the Villa, a 650-foot-tall tower by Terra and One Thousand Group with services by the restaurant brand Major Food Group, are other projects that are in the works. 

The handful of remaining single-family homes are older properties that developers are buying to build more condominiums.  

Apkmusk