In 2008, restoration of Fontainebleau resort triggered the interest of property developers to invest in restoring most of the 1950s properties in Mid-Beach.
Eden Roc will undergo renovation to give way to Chef Nobu Matsuhisa and Robert De Niro’s Nobu Hotels.
A newly constructed Thompson Miami Beach hotel was the result of the 1940s Hotel Victor renovation beautifully blending the midcentury-modern architecture with Art-Deco style. The tower features 380 rooms, chef-grade restaurant, and a spacious pool deck.
Property developer Alan Faena is working on the restoration of historic buildings built along the Collins Avenue starting from 32nd to 36th streets. The development will create upscale condominiums, luxurious hotels, and cultural centers, which will give birth to Miami Beach Faena District.
The completion of Faena District will surely boost property valuation in the neighborhood. Home buyers are now shifting their interest to investing in Mid-Beach condos.