Tuesday, February 11, 2014

Life in the Wynwood Arts District

One of the coolest areas in all of Miami is the Wynwood Arts District.  Established by a group of art dealers and artists, this neighborhood was originally created as an arts association as it tended to be the area where artists congregated and worked.  Since then, Wynwood has grown into a thriving neighborhood.   

Prior to its popularity, the Wynwood Arts District was a neglected warehouse district filled with deserted and run down industrial buildings.  Developers saw the potential and decided to design a full-fledged arts district that appealed to residents and visitors who wanted a neighborhood with hip restaurants and bars as well as art galleries, studios and unique retail shops. 

Today, Wynwood has morphed into one of the largest, well-known arts districts in the country.  It is a common sight to see people meandering through art galleries and museums or dining at many of the excellent restaurants dotting the neighborhood. 
Highlights of Wynwood
There are so many highlights in Wynwood with the most obvious being the art galleries, studios and museums.  At these venues, well-known artists from around the world show some of their best artwork as do up and coming artists.  Additionally, there is a wonderful display of street art installed throughout the area. In fact, the street art displayed is one of the largest in the world. 

On top of the art influence, there are great restaurants in Wynwood like the Wynwood Kitchen and Bar, Jimmy’z Kitchen, Joey’s, and others.  People from all over Miami-Dade flock to Wynwood for all it has to offer. 

One of the most popular highlights is a venue called the Wynwood Walls.  Created by Miami real estate innovator, Tony Goldman, the Wynwood Walls is another major art influence in the area.  Created in 2009, it is a complex of graffiti and murals by renowned street artists. The adjacent Wynwood Doors opened a year later with 176 feet of roll-up storefront gates painted on both sides to reveal a portrait gallery.

A very popular event is the community Art Walk held every second Saturday of each month.  Galleries, art studios, alternative spaces and showrooms showcase art and other works while providing music and refreshments.  The Second Saturday Art Walk also ushered in the Art Basel Fair. 

Location of the Wynwood Arts District
Located just north of Downtown, the Wynwood Arts District is adjacent to another up and coming neighborhood, Edgewater.  Its borders are North 36th Street on the north, North 20th Street on the south, I-95 to the west and NE 1st Avenue on the east.  The location of Wynwood is ideal as it is just south of another neighborhood on the rise – the Design District and north of the Performing Arts Center and the Downtown area. 

Wynwood Arts District Real Estate
Wynwood borders the Midtown area of Miami as well so when searching properties, the two neighborhoods are often intermingled especially with condominiums and multi-family properties.  Wynwood Arts District real estate offers a mix of single family homes and multi-family dwellings throughout the neighborhood.  

Because it is a revitalized neighborhood, many of the properties have either undergone or need to undergo renovations and upgrades.  This is such a cool area of Miami for residents who like a creative, relaxed atmosphere.  It accommodates many buyers from first-timers to those who love to fix up homes and have an eclectic taste. 

Single family homes in the Wynwood Arts District are, for the most part, in need of TLC – well, a little more than that.  Depending on the location of the property and the size of the lot, it is not uncommon for buyers to seek properties where they can demolish the structure and build up the property with a multi-family structure or even new construction single family home. 

As for multi-family structures, most of the condominiums are boutique buildings with loft-style units. Parc Lofts and Wynwood Lofts are two very popular buildings with loft-style residences.  A glimpse into a Wynwood loft shows large open spaces with exposed pipes and beams as well as hardwood or concrete floors.  They have a lot of character and are typically within walking distance to the galleries, restaurants and retail shops. 

In terms of statistics, the overall median sale price typically falls in the mid-$300s depending on the timing.  The entire range of list prices falls from under $200K to the millions.  But, because of the growing popularity, list and sale prices are destined to increase. 

Wynwood’s Influence
Wynwood’s influence on the arts community is very evident with its stellar reputation all over the world.  Its growing popularity is resulting in significant growth and it becoming the part of Miami real estate where residents who want arts, culture and a diverse atmosphere in which to live.  Even though it is new and different, Wynwood is definitely an influential part of Miami in which businesses are destined for tremendous success. 

No comments:

Post a Comment

Copyright 2012 Gables Riches. All rights reserved. 1800 SW 1st Avenue. Suite 504. Miami, FL. 33129. Tel (786) 344-4669. Fax (786) 533-3921 info@gablesriches.com