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One of the first planned communities in the US, Coral Gables was built by George Merrick as an ambitious and fast-paced project focused on building a thousand Mediterranean-inspired houses, with the goal of forming an organized, efficient, and resource-rich community, which The New York Times reported on in 1925.
A century ago, Biscayne Bay attracted some of America’s wealthiest individuals. In 1922, International Harvester heir and Gilded Age millionaire James Deering built his grand Vizcaya Mansion on the same shores where billionaires’ megayachts dock today. Today, the extravagant historic mansion doesn’t feel at all out of place.
In 2024, the city of Coral Gables, which also includes the surrounding areas and neighborhoods around Gables Estates and the University of Miami, and extends near Little Havana, reported that households in the city had a median income of $127,834.
Most recently, as waves of billionaires flock to call the city their new homes, Coral Gables has begun growing into an industry hub for tech and finance.
Apple has recently signed a lease to expand its Miami offices in Coral Gables. The company will lease 45,000 square feet of office space in a new development, close to offices for Bacardi USA and Bradesco Bank.
Other firms that have recently expanded in Miami include Citadel, which is leasing 1.2 million square feet of office space on a new skyscraper development for its global headquarters; Amazon, which has begun moving its operations from Seattle as Jeff Bezos made his move down to the Sunshine State; and FIFA America, which will have higher interests in the city during the 2026 World Cup.
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