June 2018—Miami Beach is home to over seven miles of beaches and world-famous nightlife, making it one of America’s favorite playgrounds, but the city is more than just fun and games. Each fall Miami Beach hosts one of the world’s most prestigious art events: Art Basel. Due to an agreement made in 2017, the event will remain on the beach for the next five years, cementing Miami Beach’s already strong reputation as an arts and culture destination.
As Mayor Gelber told Invest:, “A lot of Miami Beach’s cultural offerings have appeared in the last 10 to 15 years because of the vision and investment from people who wanted it here. We are the center of the art world during Art Basel, and we become the ‘foodie’ capital of the world during the South Beach Wine and Food festival. We also have this organic creation of cultural centers, including the Bass Museum, the ballet and the New World Symphony.”
The Miami Beach Convention Center was closed in 2017 during ongoing renovations, which was one of the biggest challenges to the region’s tourism industry last year according to William Talbert III, president and CEO of the Greater Miami Convention & Visitors Bureau. The convention center reopened for business in mid-March 2018, although the final touches are still being completed. The project will be completely finished in time for the city’s newest event: Grand Basel, a celebration of old and new luxury cars. The event will take place in February 2019 and will highlight Miami’s cultural fixation on antique and luxury automobiles.
Another unique aspect of Miami Beach is its real estate, as Phil Gutman, president of Brown Harris Stevens, told Invest. “Often the Miami Beach market is lumped in with all of Greater Miami, but it should be analyzed as its own sector,” he said. “When prospective buyers from all over the world are thinking about buying a vacation home, one of the top places on their radar is Miami Beach, not inland neighborhoods. Part of the reason for that is the Miami Beach government. The mayor is making sure that Miami Beach maintains its integrity. The government is proactively getting in front of challenges and correcting them, which gives investors confidence. Anytime individuals are making sizable investments in property, they will want to make sure that their money is going to a place that is stable and secure. The government of Miami Beach takes pride in doing what’s best for the community. It has evolved quite a bit, but the city is doing a great job of balancing that against overdevelopment.”
With a proactive local government, new and familiar world-class events and a soon-to-be-completed renovation of the city’s convention center, Miami Beach’s future looks sunny indeed!
For more information on our interviewees, visit their websites:
Mayor Gelber, City of Miami Beach: https://www.miamibeachfl.gov/
William Talbert, Greater Miami Convention & Visitors Bureau: http://www.miamiandbeaches.com/
Phil Gutman, Brown Harris Stevens: http://www.bhsmiami.com/