Miami’s Downtown Comes Alive as Condos Fill With Young Renters

BusinessWeek reports:

Brandon Klein has done what few Floridians can: go weeks without driving his car.

The 26-year-old tax accountant walks three blocks from his condominium tower on Biscayne Bay in Miami to his office at Deloitte LLP. On weekends, he and his friends hang out on the pool deck or share a cab to a local Irish pub.

He lives in Downtown, a neighborhood where young people are renting condos built during the 2004 to 2008 boom to attract second-home buyers. Thanks to the housing crash, Klein and two roommates pay about $900 a month each for an obstructed waterfront view, a wraparound balcony and access to a gym, spa and steam room.