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Miami’s Getting Back to Work – What’s 2021 Have in Store?

December 9, 2020

As South Florida reopens during the COVID-19 recovery, what will Downtown Miami and Brickell look like? Given that Downtown Miami’s economy was growing at record rates before the pandemic cramped its style, realtors and analysts are projecting that it won’t take long before Downtown Miami rebounds. Experiencing tremendous growth in the past decade, more than 1,000 businesses opened in Downtown Miami and Brickell, with 100,000 people living in the area, and almost six million tourists visiting annually. According to Downtown Development Authority’s (DDA)Executive Director, Christina Crespi, “We’ve built an urban infrastructure that rivals the country’s largest cities,” she told The Miami Herald, “and we entered this slowdown on solid footing.” Crespi went on to say, “That strength will position us for a full recovery.”

The Downtown Development Authority is approaching Downtown Miami’s recovery with three underlying goals

The DDA’s director remarked that their first approach will be “sustaining what’s already here and preserving our quality of life,” Crespi said, “recognizing that a recovery needs to capitalize on everything we’ve built up over the years, and on the strength of our global brand.” That brand includes Brickell’s reputation as the second-largest financial center in the US, behind New York, deeming it the “Wall Street of the South.”

Brickell: the financial center for Latin American investors 

The significant presence of Latin American investors and other foreign financial institutions stands to drive the downtown sector’s growth, as businesses emerge from this economic pause. Brickell houses most of the state’s foreign consulates, including Argentina, Brazil, Chile, the Dominican Republic, Ecuador, Guatemala, Mexico, Peru, plus Trinidad and Tobago, along with the United Kingdom, France, Japan, Switzerland, and the Netherlands among others.

Instilling confidence in downtown businesses, employers, and consumers 

Crespi said that the DDA’s second goal involved making downtown residents, businesses, and area visitors comfortable with a “gradual, safe and controlled manner,” so that people can return to work, to restaurants, and to shopping towards true recovery. As businesses reopen, some will still want their employees to work remotely, for the time being. Because many business professionals need a place other than their homes to work, flexible shared spaces will come into focus as a short term or permanent solution.

Flex spaces offer options and community

According to a Colliers International report, everyone realizes that open floor plans in flexible shared office spaces won’t be an option and that social networking is a no-go, at this point. However, in Downtown Miami and Brickell, “The coworking concept,” Colliers reported, has been “a big real estate trend . . . as it has the second-highest concentration of coworking space per square foot after New York.” Because these flexible shared coworking spaces are popular with “startups and small businesses,” as many independent contractors and startups, as many small- and medium-sized businesses have taken a hit from the shutdown, they are expected to “once again demand coworking space, as this type of office has an upside,” Colliers explained. “They provide a ‘community’ which is key to helping people reconnect and rebuild.”

CoSuite Brickell ahead of the curve

Spaces like CoSuite’s Brickell location that are geared towards private office suites also offer immediate solutions to businesses re-evaluating their options. Unlike most coworking spaces, CoSuite offers more private office spaces and more secluded shared desk areas where members can safely social distance, as a matter of design. CoSuite’s membership plans include virtual offices, for those who want to wait a while before venturing back into public spaces and for businesses that don’t need an office, except for client meetings but want to upgrade their business with a prestigious mailing address and mail handling services. Live receptionist services also enhance your professional profile as a CoSuite member. In uncertain times, businesses that can pivot to reinvent themselves in the face of economic downturns can take advantage of the flexible monthly contracts that CoSuite offers, while they feel their way through this new normal. When your company starts to move forward, post-pandemic, CoSuite Brickell can easily accommodate your growing needs for more space, without missing a beat.

The DDA anticipates positioning Downtown Miami for long-term growth

Crespi said that topics under contemplation to position Downtown Miami for long-term growth included acting on the ongoing issues, namely “the future of public transportation, how we create more outdoor public space,” she explained, “what leisure and business travel patterns look like, and the trends that may unfold in the retail, office and residential sectors.” Brickell has evolved over the last decade from a business district that rolled up its streets after happy hour into a bustling community where young families mixed with business professionals in high-rise condos. With a diverse cultural population of small businesses popping up, shopping, dining, and entertainment venues enhanced Brickell’s character, making it a much sought after community to live in and raise a family. With the popularity of this neighborhood came commuter transportation issues and the demand for more green areas for residents to use. The pandemic shined a light on these issues. With fewer cars in Brickell, residents were able to enjoy the outside area to walk, run, and play. These solutions will make Downtown Miami/Brickell easier for commuters, allocate more green spaces where families can play, and place less reliance on cars in this growing community.

Downtown Miami-Brickell is a resilient community

Crespi reminded readers that, “We came back from the Great Recession faster and stronger than anyone predicted and went on to experience a decade of historic growth, she said, “so I know we will rally from this pandemic as quickly and safely as possible.” With that, it might take a little time for Downtown Miami-Brickell to get back up to speed after the pandemic but indications are that one of the fastest-growing areas in the country, pre-pandemic, is chomping at the bit to get back to business. As businesses reopen, some will want their remote workers to remain remote for the time being. Many of those workers will want a space outside their homes to work and CoSuite Brickell is the place to be.

CoSuite Brickell is a flexible and vibrant place for businesses

CoSuite Brickell is open and taking extra precautions to keep your flexible workspace safe, including frequent sanitizing of common areas, sanitizing stations, and, of course, social distancing. Some corporations may find CoSuite’s flexible shared office space a happy medium between workers coming into the office and working completely from home. If your dream includes opening a business in Downtown Miami-Brickell, with the multi-faceted opportunities this area offers, CoSuite Brickell can promise you a vibrant, safe, and flexible shared office space experience with all of the equipment you need to grow your business and all of the amenities you want for every business day.

Contact us today to schedule a tour!