The historic Miami River district has been an open secret among locals. Now it’s going bigger
When Tom Kimen decided to pay $175,000 for a two-bedroom house on the Miami River along NW 14th Street in 2000, his mother told him he was crazy. “For a long time, people thought of the river as a cesspool,” Kimen said. “I moved here before the dredging.
Miami was the last metropolitan city in the U.S. that pumped sewage into its tributary. The river has had a bad reputation. But now the pendulum is swinging the other way.”
For several years, developers have been circling the Miami River — the 5.5-mile-long waterway on which the City of Miami was literally founded — as the last piece of desirable property still up for grabs in Miami-Dade County.
The most recent real estate cycles, pre-and-post the 2008 recession, fueled land rushes in areas such as Brickell, Sunny Isles Beach and Miami Beach. The result was a glutted luxury condo market and little vacant waterfront land left over.
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