CITY OF MIAMI
Miami is one of the most unique cities the United States has to offer. From its early days as host to Native Americans, the area has gone through booms, busts, tribulations, and much prosperity.
Like William and Mary Brickell’s influence in shaping the Brickell area, the City of Miami can attribute its initial success to Julia Tuttle who moved to the area from Cleveland in 1891 after the passing of her husband. During that time, the area had only a couple hundred residents. Julia had purchased hundreds of acres of real estate in the area and grew citrus fruits. For years she and William Brickell tried to convince Henry Flagler to build a railroad that stretched to the area but they were unsuccessful. It wasn’t until a freeze swept over the state of Florida destroying all citrus crops except Julia’s that Flagler agreed to a visit. When he too saw the possibilities coupled with the offer from Julia of over 100 acres of land to build on, he expanded his railroad all the way down. Shortly after in 1896, the area was incorporated and named Miami after the Miami River.
In the extremely short time frame of a little over 100 years, Miami has transformed dramatically from its early days of a couple hundred residents. Today the City hosts an estimated 433,136 residence and the County an estimated 2,500,625 residence. It has the largest cruise ship port, the largest conglomeration of international banks, and the Miami International Airport and Port of Miami are among the busiest in the nation. In a report by UBS, Miami has the most purchasing power of any city in the United States and has the 5th most worldwide.
While the area suffered from a highly inflated real estate market around 2005, it is perhaps currently the most opportunistic market going forward. If the history of Miami means anything, the city's prosperity and expansion are still in an infant stage.