The Real Deal Miami

Florida City becomes business draw

September 15, 2008 12:09PM

Florida City, nestled between Miami and the Upper Keys, saw major growth in the last year, leading Miami-Dade County municipalities with 13 percent property value growth. Almost all of that is commercial development: Cracker Barrel, Starbucks, Badcock Furniture, Largo Honda, Power Financial Credit Union and other major businesses have recently moved in, and Best Buy is on its way. Florida City is also profiting from neighbor Homestead’s growth — some 10,000 new families since 2000. The U.S. Census Bureau reported that in 2000 about 40 percent of Florida City’s families were below the poverty level and the median household income was about $19,000. The city reports a $70 million rise in property tax values.