HomepageBlogPostDowntown Miami and Wynwood: two districts that make Miami become the technological center of the US
Downtown Miami and Wynwood: two districts that make Miami become the technological center of the US
Written by Myflexoffice
Miami is in a prime position in the race to become America’s new tech hub. And what is certain is that the diversity of Miami’s districts will allow each tech company to find its happiness.
On the one hand, Wynwood, THE trendy district in Miami, known worldwide as the temple of art and street culture. On the other hand, Downtown, the city’s historic business district, both modern and conventional.
Between financial specialists on one side, and tech leaders on the other, the arrival of a large number of fast-growing startups is profoundly transforming the landscape and lifestyles. But which district should you choose to set up company in? Find out which of Wynwood or Downtown is best for your business.
I. Wynwood, a temple of street art that attracts the new generation
With its long-standing cultural roots, Wynwood is attractive for many businesses, attracted by its colorful paintings and style, its endless pedestrian streets, its unique concept bars, and its countless restaurants of all kinds.
The city’s technology sector began to establish itself in this trendy district several years ago. The first coworking space in Miami, the incubator Lab Miami and the Coding Bootcamp Brainstation were all located here.
And this movement has been reinforced by the movement of companies previously based in Silicon Valley in California. The advantages of Florida – on the tax aspects but also on the pace of life – seduce more and more these Fintech companies, which arrive in Miami in number. Among them are Founders Found, Atomic, Openstore and many others have chosen to locate their offices in the heart of Related Group’s premium towers.
The music streaming giant Spotify, headquartered in Sweden, has also chosen to set up its U.S. offices in Miami. To do so, the company has taken over a 20,000-square-foot space at the Oasis, a huge ship repair shop that has been completely rehabilitated with offices, restaurants and shops.
Wynwood is above all a dynamic environment in constant evolution, which has become over time the preferred district for young technology workers.
A point of view confirmed by former PayPal CEO, Bill Harris, who said « It’s trendy, it’s fun and it’s the center of design and technology in Miami”. So the entrepreneur didn’t hold back and quickly moved his fintech startup Nirvana Technology to the district.
This grouping of innovative companies in the same district promotes the city’s economy and growth on the one hand, but above all it creates an environment similar to a giant campus, which is extremely favorable for building a network and setting up collaborations. A real virtuous circle aimed at making this district a true hub of technology and innovation.
II. Downtown, the historic financial district, but in transformation
Downtown has been the growing district in of Miami, and this for several years. And the city intends to take advantage of it to develop this district even more strongly, with, among other things, an investment of nearly 27 million dollars to renovate Flagler Street. This project aims to improve « quality of life » on the main street of Downtown, by making it more pedestrian-friendly and by encouraging the opening of trendy restaurants and cafés.
In addition, the city’s development authority has set up a financial initiative program called « Follow the Sun » to attract new businesses to the area. Today, nearly a dozen companies have chosen to locate there, creating hundreds of jobs.
The best example of this district expansion is the Mana Common, a « district within the district ». With this cluster of corporate headquarters and more than 50 private properties in the heart of the Flagler District, Mana Common prides itself on being Miami’s technology hub. At its heart is the new headquarters of the international company Plug and Play, the world’s largest accelerator of innovative startups.
Banking and investment companies have also moved into the area, such as Boston Private and Blackstone Group, which has purchased 330,000 square feet of office space and recruited more than a hundred employees.
Finally, the undeniable advantage of Downtown that makes it a privileged area of the city is its accessibility by transportation. Indeed, Downtown is connected to the entire city by the Brightline and Metrorail. This contributes to reducing the use of personal motor vehicles and thus promotes the emergence of an eco-friendlier district that is more attractive to the new generation of workers.
III. The best choice between Wynwood and Downtown?
Both are undergoing a profound transition, as is Miami in general. These two districts, although destined to become the 2 hubs of technology and innovation in Florida, offer quite distinct universes and work environments.
On the one hand, the eclecticism and atypicality of Wynwood, world temple of street art and trendy bars, and new technological campus that remind us of Silicon Valley.
On the other, the business district of tomorrow: eco-responsible skyscrapers and pedestrian-friendly eco-districts.
The choice is yours!
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