Located southwest of Miami Florida real estate along Biscayne Bay, the city of Coral Gables is known globally as home of the University of Miami. Approximately 45,000 residents of the SW Miami homes go down in the record books as living in one of the first planned real estate developments in the nation. Surrounding Coral Gables are Miami, to the north and east, Biscayne Bay to the east and south, and West Miami, Coral Terrace, South Miami, Pinecrest FL real estate, and Palmetto Bay to the west.
Coral Gables was begun during the Florida land boom of the 1920s, long before gated communities and homeowners associations. George Edgar Merrick, honored with a statue in front of the Coral Gables City Hall, designed the city in a Mediterranean Revival style. Coral Gables real estate extended over 10,000 acres. Within a few years, Merrick had completed $150 million in real estate sales with a substantial 150 percent return on investment.
An electric trolley system, since replaced with a free circulator trolley system, ran for 2 miles down Ponce de Leon Boulevard. It accessed a 4-block-wide downtown commercial district. Stories are told that Merrick thus claimed that every business in Coral Gables could be reached by walking less than 2 blocks.
In 1925, the University of Miami was constructed on 240 acres a couple of miles south of this downtown, a little west of U.S. Route 1. UM ranks academically among the top tier of U.S.-based colleges and universities. It has achieved recognition in the fields of business, law, medicine, and music as well as in collegiate athletics. Today, the University of Miami has more graduates playing in the National Football League than any other college or university in the nation.
More than half of the residents speak Spanish as a primary language. Possibly that is why several countries operate consulates in the city, including Colombia, El Salvador, Spain, and Uruguay. There is also an Italian consulate and the Taipei Economic and Cultural Office of the Republic of China.
The families are served by the Miami-Dade School District, which operates schools for all ages in the city. Located four miles from Miami International Airport, what is referred to as the “City Beautiful” features over a hundred dining establishments, gourmet shops, and international retailers. Tourists are sure to visit landmarks such as the Venetian Pool, Douglas Entrance, and the Miracle Theater on Miracle Mile, DeSoto Fountain, the Biltmore Hotel, and several fine historic residences.
For more information about real estate along the southeast coast, contact The Herman Group.