Pros of living in Edgewater
Location, location, location. Edgewater is a centrally located neighborhood with easy access to the beach via the Julia Tuttle Causeway at its northern boundary, access to the best of mainland Miami while still allowing for beautiful direct water views, and only 20 minutes away from Miami International Airport.
Commuting is a breeze if you have to go into the office in downtown Miami or Brickell, and you’re just a few blocks away from high-end shopping and trendy eateries in the Design District. If you live here, it’s more likely your friends will be meeting you in your neighborhood for dinner vs the other way around.
Because Edgewater is adjacent to Wynwood and the Design District, we rate Edgewater as having the best price appreciation potential for a residential neighborhood, especially if you manage to snag a high-floor, direct bay (and often ocean if you’re high enough, i.e. ~30th floor) view condo unit.
Cons of living in Edgewater
Because Edgewater and its surrounding neighborhoods are seeing gentrification at such an accelerated pace, there is bound to be construction to deal with as new high rises go up.
While this may not necessarily be a problem given many buildings will have hurricane-strength, impact resistant windows that are great at blocking out sound, you still have to watch out for construction right next door that might block your view.
Furthermore, no matter how soundproof your home is, groundbreaking at the beginning of a construction project is extremely loud and may make working from home difficult.
Another con of living in Edgewater is its walkability, which is a work in progress as the Miami Bay Walk is being stitched together. This may take years to complete however, as buildings built before 1979 are not required to have a publicly accessible baywalk, while new construction buildings are obligated to do so.
Lastly, keep in mind that the NYC analogy to this and surrounding neighborhoods is Brooklyn 20 years ago. While there is opportunity for price appreciation due to continued gentrification, it’s still a work in progress.
As a result, even though safety has improved dramatically in recent years, the neighborhood may not be deemed by some as “super safe” late at night, or at least not as much so as say Mid-Beach.
One Paraiso – Completed in 2018, One Paraiso is the most exclusive, upscale building in the Paraiso Complex. Developed by The Related Group with world-famous Arquitectonica as the architect, One Paraiso sits directly on the bay and features a marina in addition to two full floors of amenities on the 10th and 11th floors, as well as a 2 expansive pools on its 10th floor, outdoor pool deck, a BBQ area and tennis courts. The amenities in this building are the best we’ve seen.
Elysee – Completed in 2021, the Elysee has fewer than 100 units, with each floor only having two flow-through units of at least 3 bedrooms. As a result, the Elysee markets itself as having a more exclusive atmosphere for those who want a bit more privacy. The amenities are also nice in this one, though not as extensive. Please note that the Aria Reserve is being built directly across the street to the north, and is scheduled to be completed in 2024.
Missoni Baia – A new construction project that is scheduled to be completed in the first half of 2022, the Missoni Baia features excellent amenities from the same developer behind the Aman brand. We recommend doing a hard hat tour, and seeing a finished unit so you can get a sense of the space and square footage for yourself.