Aventura Real Estate: Redevelopment To Spur More New Housing In This Area
Previously known as little more than a suburb of Miami that had a really large mall, the city of Aventura in Florida, is now a developed, dense and mixed-use urban community.
The area's waterfront strip, which was once known for it shipbuilding activities, is now famous for the busy hum of construction cranes building homes and condos. Around 27,000 live in this city, and that does not include the influx of visitors who come to this area during the winter vacation season.
A Look At The Level Of Real Estate Development In This City
The city's planning and building officials estimate that at present, Aventura is around 97 percent built out., and the bulk of this they say is made up of condominiums. Single-family homes in this area only comprise 4 percent of the total number of residential units currently offered for sale, which goes to say that most of the area's residents live in high-rises, and more developments are on the way.
At present, there are currently 16 residential developments that have been approved or under construction in this 3.2-square-mile urban enclave, further bringing the number built to approximately 3,500 new units over the next few years. The vast majority of the community's development is made up of condos, but there's also a healthy offering of townhomes and single family homes to select from. The single-family or apartment may only make up a small percentage of the overall real estate market here, but they still are a pleasure to set your sights on.
Redevelopment Would Be The Next Phase For This City
According to city officials, Aventura is maturing, and it's really in its final stages of original development. Once development reaches its peak, the city will then devote its attention to redevelopment. According to the city's commissioner, it is their understanding that many developers are considering redevelopment of areas, which he thinks in the next five years, five to 10 years, will see a tremendous amount of redevelopment by developers in key areas.
As the city further grows, its population is doing just the opposite. The city's resident population appears to be dropping each year and creating what many see a new demographic. According to census figures, from 1995 to 2000, the average age slipped from 62 to 51 and city officials expect to see another considerable dip in the coming census.
The quality and wide array of real estate options here is considered to be one of Miami-Dade Countys most desirable and most upscale market, and has a lot of luxury housing developments to offer buyers. Strategically located between Miami and Fort Lauderdale, this city offers the perfect location for buying a wide array of homes. Aventura is conveniently located just minutes from either airport and has some of the best shopping and dining you will find anywhere in South Florida.
More and more people are discovering how convenient it is to live here, with everything you need only a few minutes away from your home. Most of the city's real estate is located on or close to the water, and this makes this area a suitable choice for those who wish to keep their boats close to their condo unit or home.
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