Soccer has been all the rage in South Florida for more reasons than one. Lionel Messi’s arrival to South Florida, along with the signing of midfielder Sergio Busquets and defender Jordi Alba, has sparked interest in the sport at a regional and even national level while also helping bring ticket sales up. However, the transformation of Inter Miami CF has not only impacted soccer and the MLS, but it is having an overall effect on South Florida’s economy, including the real estate industry.
On Oct. 16, the North Bay Village Commission gave final approval to a resolution to use and develop certain portions of Miami Dade County Public Schools’ Treasure Island Elementary School located in the village. This proposed project includes the construction and management of the Argentine Football Association (AFA)’s U.S. headquarters and soccer complex. AFA looks to run a youth soccer training program in the land. The proposed complex will include soccer fields, a new community center, offices, sporting facilities, as well as a park. According to previous media reports, as part of the partnership with AFA, scholarships and discounts will be provided to North Bay Village kids, as well as a free-of-cost after-school soccer program at certain times of the day. The project was already approved by the Miami-Dade County School Board.
North Bay Village, a South Florida city consisting of three islands and located in Biscayne Bay between Miami Beach and Greater Miami, is on the verge of a renaissance. Several major residential projects have been announced in the past year, transforming this dormant Village into a vibrant urban destination.
With Messi’s signing with Inter, Miami being a host city for the 2026 FIFA World Cup and AFA’s activity in North Bay Village, one of the new luxury residential projects, 7918 West Drive, is seeing increased interest from potential Argentine buyers and continues to market this demographic. According to an April report by the Miami Association of Realtors, Argentina accounted for 7.05% of all international searches on MiamiRealtors.com in March 2023. Also, Argentina purchased the most South Florida real estate among foreign countries in 2022, according to the 2022 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Argentina buyers purchased 16% of all international purchases in South Florida. Moreover, North Bay Village is located next to Miami Beach’s Normandy Island and North Beach, which have a large concentration of Argentineans.
Situated on a 33,600-square-foot lot that sits on the Intracoastal Waterway, 7918 West Drive is a state-of-the-art, luxury waterfront condominium development that is arising amid North Bay Village’s awakening. The 21-story, 54-residence elegant waterfront condominium broke ground in February 2023, and is expected to be completed in the first half 2025. 7918 West Drive is the first groundbreaking in North Bay Village in ten years. The project is being developed by Malaysia-based Pacific & Orient Properties, LLC, an international leader in integrated technology solutions. With locations in Kuala Lumpur, Malaysia; London, England; and Bangkok, Thailand, its U.S. headquarters are located in South Florida.
