Thursday, March 18, 2010

The Grove Struggles

Today's Herald. A victim, in part, of the bursting of the real estate bubble: The rents got too high; Cocowalk's new owner paid to much; and now stores are half-empty. The article mentions commercial cannibalism by other, newer developments.

I would note that the nearest MetroRail station is not within walking distance of the Grove. Mary Brickell Village, on the other hand, is quite close to both MetroRail and the PeopleMover. Brickell's overbuilding was mainly residential, although there is some new retail. Now the condo and apartment prices for new residences in the off-but-not-too-off-Brickell area are fairly reasonable. The South Miami retail district, which has had its own struggles, is doing fairly well, as the article notes: it is also near a MetrolRail station, the U, and has a new Whole Foods.

2 comments:

Brad Tucker said...

And we lost one of our favorite restaurants during that "boom" and condo overbuilding - Latin American on 27th Avenue.

Paul said...

Hi, Brad!