Trendy Coral Gables set for retail, restaurant rush this year. Find out who’s coming

Coral Gables’ population and business growth has made it a magnet for restaurants and retailers.

Twenty-six more shops and restaurants are slated to open in the city this year. They’re coming to Giralda Plaza, Miracle Mile and Ponce de Leon and all corners of the Gables, said Belkys Perez, the city’s director of economic development.

Gables’ retail scene continues to bloom, after a wave of openings in late 2021 and more commercial space available with the completion of the Plaza Coral Gables. The community appears to have started a new chapter after a whirlwind of challenges, including two years of construction on a streetscape, a slowdown in retail sales during the start of the pandemic and a robbery in late 2019.

“It speaks volumes to what we offer in the city. We are positioned for growth,” Perez said. “People want to spend time outdoors. We have a safe community with wide sidewalks. You have multiple communities around this city. We have a large customer base that comes here. Having all of those options is just going to attract more people here.”

Known as a desirable residential area with lush vegetation and Mediterranean-inspired architecture, newcomers have landed in one of Miami-Dade’s most expensive neighborhoods. That and the area’s office tenants boost foot traffic for commercial tenants. The number of visitors rose by 55% alone in the community’s historic retail strip Miracle Mile to 667,229 in December 2022 from 431,587 during the same month the prior year.

More retailers clearly want a piece of the action. Of the 2.5 million retail square footage in Coral Gables, the city has only a 1.7% vacancy rate; that’s considerably below the 3.3% vacancy rate for Miami-Dade County, according to data from Colliers fourth-quarter 2022 report.

While some national chains like Starbucks have cropped up, the Gables is known for independently-owned merchants and restaurants, a plus in a time when more shoppers want to buy local. It’s one of few communities in South Florida not dominated by national retailers and eateries.

“A lot of people will want to support their local bakery or Italian restaurant. I am the same way as the shopper,” said Jonathan Rosen, Colliers’ director of retail services in South Florida. “There’s more heart and love when going to a local restaurant, retail or boutique.”

Economic gray clouds this year will challenge Gables’ retailers, but they are better positioned than many others in Miami-Dade. Jeffrey Havsy, an economist at Moody’s Analytics, predicted rising interest rates and a potential recession spell trouble for commercial tenants and landlords nationwide.

Coral Gables retailers are paying average rents 26% higher than a year ago, according to data from Colliers fourth quarter 2022 report. The average asking rent is $48 a square foot, up from $38 a square foot during the same period of 2021.

“We’re all aware what’s happening nationally, but a market like Coral Gables is somewhat shielded from those national headlines. It is always going to be an appealing area,” Rosen said. “Coral Gables is on the receiving end of companies who want to leave their current state or wants to expand.”

Here are the restaurants and new stores coming this year to the Gables:

Restaurants

▪ L’artisane Donut Shop, 2528 Ponce del Leon Blvd.

▪ Pisco y Naza, 101 Miracle Mile.

▪ An unnamed Mezcal-inspired restaurant, 375 Miracle Mile.

▪ Sweet Paris at The Plaza Coral Gables, 2811 Ponce de Leon.

▪ Sanguich De Miami at The Plaza Coral Gables, 2811 Ponce de Leon.

▪ Bouchon by Thomas Keller at La Palma, 116 Alhambra Circle.

▪ Shingo by Shingo Akikuni at La Palma, 116 Alhambra Circle.

▪ Cantina Leon at The Plaza Coral Gables, 2811 Ponce de Leon.

▪ Pretty in Pink, 177 Giralda Plaza.

▪ SoBe Vegan, 175 Giralda Plaza.

▪ Sra. Martinez, 2325 Galiano St.

▪ Il Duomo dei Sapori, 2312 Ponce de Leon.

▪ The Grilled Cheese Gallery, 1573 Sunset Drive.

▪ The Mediterranean restaurant Motek, 45 Miracle Mile.

▪ Los Ranchos, 2732 Ponce de Leon.

▪ Francesco’s, 278 Miracle Mile.

▪ Bodega Taqueria y Tequila, 317 Miracle Mile.

▪ The Capital Burger, 300 Miracle Mile.

Retailers

▪ Bowling company Pinstripes at The Plaza Coral Gables, 2811 Ponce de Leon.

▪ Wellness chain Stretchlab at The Plaza Coral Gables, 2811 Ponce de Leon.

▪ Veterinary chain GoodVets, 315 Miracle Mile.

▪ Arhaus at the Shops at Merrick Park, 358 San Lorenzo Ave.

▪ Luxury clothing and accessory store Louis Vuitton at the Shops at Merrick Park, 358 San Lorenzo Ave.

▪ Furniture design store Adriana Hoyos, 2725 Salzedo St.

▪ High-end barber shop ManCave for Men at The Plaza Coral Gables, 2811 Ponce de Leon.

▪ Eyelash extension and eyebrow salon Lash Lounge at The Plaza Coral Gables, 2811 Ponce de Leon.

Editor’s note: An earlier version of this story misstated the addresses of several restaurants and retailers coming soon.