Largest Cities in Florida | Rising Construction in the Sunshine State

Jun 6, 2024 | Blog

Are you wondering what the largest cities in Florida are? Florida is experiencing an unprecedented economic and population boom, making it a hotspot for real estate investors. The Sunshine State’s largest cities are not only growing in population but also witnessing a surge in new construction projects. From commercial real estate to healthcare facilities, the investment opportunities are vast and varied.

In this blog post, we’ll explore the growth dynamics of Florida cities, the significance of new construction, and how real estate investors can capitalize on these trends.

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Top 10 Largest Cities in Florida

Florida’s rapid growth is primarily driven by its most populated cities, which serve as hubs of economic and social activity. The Florida population, according to the US Census Bureau, said the there is an estimated population 20 million as of 2020. The actual total population is much larger now, with plenty of land area to continue building.



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Here is a list of the top 10 largest cities in Florida by population:

  1. Jacksonville – As the most populous city in Florida, Jacksonville is a major center for finance, healthcare, and logistics.
  2. Miami – Known for its vibrant culture and booming tourism industry, Miami is also a key player in international trade. Most would assume this is the largest city in Florida. Miami Dade County has tons of urban amenities and cultural attractions with a vibrant arts scene, it’s no wonder it’s such a major city in Florida.
  3. Tampa – Tampa is a thriving metropolis with a strong economy centered around finance, healthcare, and technology.
  4. Orlando – Famous for its popular attractions and theme parks, like Walt Disney World, Orlando is also experiencing significant growth in technology and innovation sectors.
  5. St. Petersburg – Part of the Tampa Bay area, St. Petersburg is known for its waterfront parks and burgeoning arts community.
  6. Hialeah – A predominantly Cuban-American city, Hialeah is a major contributor to the Miami Dade County economy.
  7. Port St. Lucie – One of the fastest-growing cities in the state, Port St. Lucie offers a high quality of life with plentiful recreational activities.
  8. Cape Coral – Located in Southwest Florida, Cape Coral is famous for its extensive canal system and rapid residential growth.
  9. Tallahassee – As Florida’s capital, Tallahassee has a strong presence in education, government, and research. This is also where the renowned Seminoles of Florida State University are based.
  10. Fort Lauderdale – Renowned for its boating canals and stunning beaches, Fort Lauderdale Beach is a major tourist destination with a growing economy. Fort Lauderdale is a popular destination for those wanting to experience the natural beauty of the Sunshine State.

These cities are driving new construction projects and creating significant opportunities for real estate investors.

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Florida’s Real Estate Market Overview

Florida’s real estate market is thriving, driven by a strong economy, favorable tax policies, and a desirable climate. The state is home to some of the most populous cities in the country, including Miami, Orlando, and Tampa. New commercial constructions in these cities are creating ample opportunities for investors, especially in sectors like assisted living, healthcare, and education.

Key Sectors Fueling Growth:

Commercial Construction: New office spaces and retail developments are popping up across the state.

Healthcare Facilities: Investments in medical offices and drug treatment centers are on the rise.

Education: New schools and universities are being built to accommodate the growing population.

Senior Living: An increasing number of senior living facilities are being developed to cater to the aging population.

city skyline under blue sky during daytime

Top Construction Projects in Florida’s Largest Cities

Miami

Miami is a vibrant city with a booming real estate market. It’s known for its rich cultural attractions and urban amenities. Some noteworthy projects include:

Brickell City Centre Phase II: A mixed-use development featuring residential, commercial, and retail spaces.

One Thousand Museum: A residential skyscraper designed by Zaha Hadid, offering luxury living with breathtaking views of Biscayne Bay.

Miami Worldcenter: One of the largest private master-planned projects in the U.S., combining retail, residential, and commercial spaces.

Orlando

Orlando, famous for its theme parks like Walt Disney World, is also seeing a surge in construction projects:

Creative Village: A mixed-use district that includes educational facilities, residences, and commercial spaces.

Lake Nona Medical City: A health and life sciences park featuring hospitals, research institutions, and medical schools.

ICON Park Expansion: Adding new attractions, dining options, and retail spaces to the popular entertainment complex.

Tampa

Tampa is another major city experiencing significant growth, particularly in its downtown area:

Water Street Tampa: A $3 billion project transforming downtown Tampa with new office spaces, hotels, residences, and retail outlets.

Midtown Tampa: A mixed-use development featuring residential units, office space, shops, and restaurants.

Tampa Riverwalk Extension: Expanding the popular riverside path to include more parks, public spaces, and cultural venues.

South Coast Improvement Company Construction and Renovation

Spotlight On The Outstanding Projects in Florida By South Coast Improvement Company

Let’s delve into two of the remarkable renovation projects undertaken by the South Coast Improvement Company that affirm its commitment to quality and sophistication.

Project One: A Contemporary Transformation at Holiday Marion Woods

Located in Ocala, Florida, Holiday Marion Woods was formerly an occupied senior living facility that underwent an extensive interior revamp. The project achieved a stunning transformation while delicately preserving the comfort of its senior residents.

The highlight of the project was the renovation of 18 vacant units. These units were spruced up with new lighting, elegant flooring, and fresh coats of paint, creating a warm and welcoming ambiance. The remodeling also encompassed the common area – a lively hub for residents to socialize and relax.

Some Key Project Highlights:

  • The construction journey began with the erection of new walls, followed by flooring installation across the facility.
  • An aesthetic upgrade was made by painting throughout the building.
  • The replacement of light fixtures and electrical devices provided added safety and convenience.
  • The project also featured the installation of new millwork, adding to the overall sophistication.

Project Two: Transforming Atria Willow Wood into a High-end Senior Living Campus

Atria Willow Wood in Ft. Lauderdale, Florida, brought to life a new vision of luxury for senior living. This two-building campus, accommodating 220 resident units, received a complete interior makeover.

The challenge in this project was to address a pre-existing drainage problem in the commercial kitchen. By successfully coordinating with the on-site staff, the team managed to change the existing pipe that ran down the main corridor of one of the buildings, ensuring minimum disruption and safety for the senior clientele.

Noteworthy Project Highlights:

Building 1:

  • One of the buildings was entirely gutted and repurposed for a Memory Care Unit, a specialized area for dementia care.

Building 2:

  • The front entrance was redesigned to create an open and inviting space.
  • Numerous common spaces were repurposed to house facilities like a theater, health club, private dining room, art and crafts building, and piano lounge bar.
  • The project also involved the ground-up construction of a two-story addition.
  • All finishes in the building were upgraded to include new millwork, flooring, paint, lighting, plumbing, and a fire alarm system, giving a luxurious touch to the property.

These projects by South Coast Improvement Company are aptly a testament to the team’s dedication to quality, safety, and a seamless workflow, resulting in extraordinary transformations.

people sailing on river near parking lot

Factors Driving the Construction Surge

Several factors are contributing to the construction boom in Florida’s largest cities:

Population Growth: Florida’s population is growing rapidly, leading to increased demand for housing and infrastructure.

Tourism: The state’s tourism industry attracts millions of visitors annually, driving investments in hotels and entertainment facilities.

Economic Diversification: Beyond tourism, sectors like healthcare, education, and technology are expanding, requiring new facilities and commercial spaces.

aerial photograph of seashore and buildings

Predictions for Florida’s Growth

The future of Florida’s construction sector looks robust, with several key trends anticipated to shape the industry’s trajectory. As the state continues to experience rapid population growth, the demand for residential properties will likely surge, necessitating an increase in both single-family homes and high-density apartments.

This growth is expected to be complemented by the development of new infrastructure projects that support enhanced transportation networks, including road expansions and the introduction of new transit systems.

Moreover, Florida’s thriving tourism industry will continue to foster the need for more hotels, resorts, and entertainment complexes.

With cities like Miami, Orlando, and Tampa continuously attracting tourists from all over the world, there will be ongoing investments in creating state-of-the-art recreational facilities that cater to international visitors.

Economic diversification is another critical factor driving construction growth. The expansion of sectors like healthcare, education, and technology calls for the addition of modern hospitals, research institutions, universities, and tech hubs.

Furthermore, Florida’s favorable business climate will likely attract more corporate relocations, spurring the construction of office spaces and corporate campuses.

Sustainability is expected to play a significant role in shaping future construction projects. There will likely be an increased emphasis on green building practices, energy-efficient technologies, and smart city innovations to enhance environmental sustainability and reduce the carbon footprint of new developments.

Overall, the convergence of population growth, tourism, economic diversification, and a heightened focus on sustainability sets the stage for a vibrant and expansive construction landscape in Florida, promising continued prosperity and development in the state.

white yachts near high-rise building

Challenges and Opportunities for Real Estate Investors

While the opportunities are plentiful, real estate investors should be aware of the challenges and risks associated with investing in Florida’s construction boom:

Market Saturation: Some areas may become oversaturated, impacting property values and rental yields.

Regulatory Hurdles: Navigating local regulations and zoning laws can be complex and time-consuming.

Funding Availability: Securing financing for large-scale projects can be challenging, especially for newcomers to the market.

Recommendations for Investors:

Conduct Thorough Research: Understand the local market conditions and demographic trends.

Diversify Your Portfolio: Spread your investments across different sectors and locations to mitigate risk.

Stay Informed on Regulations: Keep up-to-date with local laws and regulations to ensure compliance.

Leverage Technology: Use data analytics and AI tools to make informed investment decisions.

vehicles on road beside trees

Conclusion

Florida’s largest cities are experiencing a construction boom that presents numerous opportunities for real estate investors. By understanding the market dynamics, staying informed on upcoming projects, and leveraging strategic insights, investors can capitalize on the growth and potential returns.

Ready to explore the investment opportunities in Florida’s thriving real estate market? Contact us today to get started and make the most of this booming sector.y

 

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