Coral Gables, which was first incorporated by George Merrick in 1925, is one of the more charming and oldest neighborhoods of South Florida. The city is known for its luxurious green avenues and by the Mediterranean Revival architectural style. This Mediterranean style was inspired by James Deering’s estate, “Villa Vizcaya.” Mr. Deering’s dream was to bring the images and architecture of Spain to this area, which is made apparent from the architecture of the houses and to the names of the streets. Coral Gables has many historic buildings to visit such as the Coral Gables City Hall, The Biltmore Hotel, Venetian pool, the Douglas Arches and even the house of George Merrick himself!
Another attraction of the city is the Biltmore Hotel which was first built in 1926. The hotel is considered one of the icons of the city which perfectly displays Merrick’s vision for his Mediterranean architecture. Back in the 1930’s, it was a place to host fashion shows, galas, golf tournaments and many more events for the wealthy. The hotel later became a hospital during WWII. Then, in 1987, The Biltmore was added to the National Registry of Historic Places.
The Venetian pool is another favorite spot not only for locals for also for tourists. The pool was built in 1923 from a coral rock quarry which is a spring fed surrounded by grottos, waterfalls and coral caves.
Architect Frederick Law Olmsted, who designed New York’s Central Park, helped the city attract potential buyers by the use of wide tree lined avenues, monumental buildings, winding roadways, green space, ornate plazas, and fountains. A good example of Olmsted’s work can be seen on Coral Way heading towards Miracle Mile, where the trees arch over you as you drive along. The city is known for its gourmet restaurants as well as many areas to shop, such as Village of Merrick Park and Miracle Mile.
University of Miami is also in Coral Gables, which is ranked as one of the top universities in the nation and also the home for the famous football team “The Miami Hurricanes.”
In the last couple of years, Coral Gables has experienced a growth of condos with unit prices fluctuating from about $115,000 to $899,000 and luxurious homes from $400,000 to $2.5 million according to the MLS.
If you have any questions about Real Estate or how to invest in Coral Gables or any area in South Florida, do not hesitate in contact me.
Tury Céspedes, MIS, MBA, REALTOR®
Member of the Luxury, Homes Institute, Century 21