WILTON OUTLOOK
Why Manors?Wilton QUALITY OF INTERNATIONALLYLIFE KNOWN LGBTQ+ DESTINATION URBAN WALKABLEVILLAGEAND NEIGHBORHOOD CENTERED GROWING ARTS & ENTERTAINMENT DISTRICT BUSINESS-FRIENDLY CLIMATE PRO-GROWTH POLICIES PUBLIC INFRASTRUCTURE INVESTMENT BUSINESS AND WORKER RELOCATIONS STRONG CONSUMER BUYING POWER STRONG MEDIAN HOUSEHOLD INCOME RESIDENTIAL POPULATION GROWTH 800,000 ANNUAL VISITORS
In 1947, when the city’s leaders decided to incorporate, their vision was to create a community that cared for its residents. 75 years later, that vision remains. While our Island City has grown from less than a thousand residents in 1950 to almost 11,500+ residents in 2021, we are still a place that welcomes everyone.
Welcome to the City of Wilton Manors!
There’s never been a better time to invest in Wilton Manors! As we continue to invest in our major transit-oriented corridors, the Island City is quickly becoming an economic anchor in the South Florida region with more than 1,200 residential units and 40,000 sq. ft. of commercial space on the horizon. Furthermore, over 800,000 people visit our city annually and Wilton Drive, our thriving Arts & Entertainment District, attracts many to our wonderful restaurants, art galleries, and nightlife establishments.
As our city continues to solidify its place as one of the best locations to live, work, and play in South Florida, we hope that you will consider being part of the many growth opportunities that we have to offer. I encourage you to discover our wonderful city and learn more about our efforts to make sure Life’s Just Better Here in the City of Wilton Manors!
MayorNewtonofWilton Manors
Scott
Today, Wilton Manors has more than 1,000 businesses, and is home to some of the fastest growing companies, high-impact organizations, award-winning restaurants, iconic nightlife establishments, and signature events in the region. I am truly happy and proud of the progress that we have made to ensure that we protect the vision of our founders, and at the same time prepare our city for the next 75 years.
Table of Contents At a FutureMarketGlanceOverviewGrowth City Map ProposedGrowTravelShop/DineWorkLiveDevelopments
At a Glances
3.0 Miles Downtownto FL 11,500+ PopulationTotal 6,700+ EmployeesTotal 1,180 BusinessesTotalCityofWiltonManors
Market
| Wilton Outlook 2022\ 10\ Live City of Wilton Manors Broward County 202211,5581,978,906 1.7% Growth Rate 1.0% Growth Rate Median Age 51 42 20271,998,65511,749 $76,885 $69,175 HouseholdMedianIncome $63,364 $58,154 IncomeDisposableMedian 45-6425-440-2465+ 22.5%38.2%25.6%13.8% City of Wilton Manors has earned a perfect score on the Human Rights Campaign Municipal Equality Index for 8 years in a row - the ONLY city in our region to do so! PopulationPopulation
PerIncomeCapita AverageIncomeHousehold $64,691 $117,685 $76,885 14.9% MedianIncomeHousehold Forecasted Median HH Income (2022-2027)Growth 11Wilton Outlook 2022 | Demographics 69% 10% 17% 3% 5% 13% White Black HIspanic Asian Other MultipleRaces
MarketResidentialStats Broward County City of Wilton Manors FortDowntownLauderdale Effective Monthly Rental Rates $2,345 $2,755 $2,941 Effective Rent PSF $2.28 $2.83 $3.21 Occupancy Rates 96.9% 97.4% 97.5% | Wilton Outlook 2022\ 12\ Live High Demand Residential Market • $47 Million in Single Family Home Sales (Q2 2022) • $20 Million in Condo and Townhome Sales (Q2 2022) • Ranks 9th Best Suburb to Live in Broward County • Ranks in the top 2% of Cities to Retire in the US • Home to the Stonewall Pride Parade & Street Festival • City of Wilton Manors has earned a perfect score on the Human Rights Campaign Municipal Equality Index for 8 years in a row - the ONLY city in our region to do so
Condo Market Stats Broward County City of Wilton Manors Q2 2022 Y/Y % Change Q2 2022 Y/Y % Change Median Sale Price $250,000 +15.2% $322,500 17.0% Average Sale Price $368,053 +23.7% $389,956 +25.9% Single Family Home Market Stats Broward County City of Wilton Manors Q2 2022 Y/Y % Change Q2 2022 Y/Y % Change Median Sale Price $575,500 +21.2% $790,000 +31.7% Average Sale Price $809,543 +17.2% $865,542 +31.5% “ 13Wilton Outlook 2022 | “Wilton Manors is the first place I have ever lived where I felt so knitted into the community in such a short time. An open and inviting community with a responsive City administration, lots of neighborhood opportunities to be involved and an everimproving infrastructure for a bright future! That’s why I love living here!!" Matthew Dreger
residents and visitors alike.
feel Community paired with
boasts a diverse range of people and businesses that thrive in this quaint,
Legal and Professional Services 19% Retail 12.4% Real Estate & Construction 11.1% Food Service & Hospitality 8.3% | Wilton Outlook 2022\ 14\ Leading Sectors
proximity
The City of Wilton Manors has a wide-range of that appeal to both
urban
The City of Wilton Manors small-town close to (and Professional Services is the leading sector,
followed by Retail, Real Estate & Construction, and Food Service & Hospitality sectors.
shopping, dining and entertainment offerings
beachside) life. Legal &
15Wilton Outlook 2022 |
“ | Wilton Outlook 2022\ 16\ “
"I chose to open my office in Wilton Manors due to the vibrant, diverse, community that is representative of a true cross section of South Florida. The City of Wilton Manors was helpful, welcoming and worked with us towards our goals. We couldn’t be happier with our decision. The residents welcomed us with open arms; we invest an incredible amount of time and financial resources giving back to the city that has supported us since our inception."
Anthony LoGrande Wilton Drive Improvement District
Chris Krzemien RE/MAX Experience
“Doing business is better here on Wilton Drive because we have a strong pedestrian traffic count and 800,000 LGBTQ+ visitors per year with an active digital marketing campaign that reaches beyond the tri-county area. We have a culture of engaged businesses who understand their market and a city that is responsive to their needs.”
Testimonials
“We looked at several different locations to open a restaurant, but when Wilton Manors popped up on our radar and we saw the neighborhoods, we instantly fell in love with it. We love the fact that Wilton Manors is a very welcoming and tight-knit community. There are not many places like it in South Florida where people can walk to their favorite bar or restaurant and not feel like are super-touristy,”
Roberto Colombi & Chrisie Tenaud Union Kitchen & Bar Wilton
Outlook 2022 | “
Claudia Castillo Claudia Castillo Art Studio
Peter Jackson Wilton Manors Business Association
“
“ 17
“Small businesses are the lifeblood of America. Nowhere is that more evident than in Wilton Manors, where more than a thousand businesses drive the economy of our 1.96-square-mile ‘Island City’. Since 1950, the Wilton Manors Business Association has been helping small businesses grow and thrive. We invite you to join us.”
“I love doing business in Wilton Manors because the city is so diverse, inclusive, and a safe place where tourists and residents can enjoy a happy and entertaining environment.”
Work | Wilton Outlook 2022\ 18\ 1,180 BUSINESSES 6,737 EMPLOYEES 58 EMPLOYEE TO RESIDENT RATIO Population (Age 25+) 9,970 High School Graduate Only 16.4% Bachelor's Degree and Higher 49.1% Graduate/Professional Degree 17.8% Educational Attainment Fort Lauderdale Beach 1.5 miles Hugh Taylor Birch State Park 2.6 miles Downtown Fort Lauderdale CBD 3.0 miles Brightline Virgin Station 3.2 miles Fort Lauderdale Las Olas Beach 3.5 miles Fort Lauderdale Executive Airport 5 miles Fort Lauderdale-Hollywood International Airport 8 miles Port Everglades 8 miles Market Drivers
INVENTORY (SQUARE FEET) 1.08 MSF ASKING RENTAL RATE (NNN) 19%5-YEAR$33.34GROWTH Retail Market Stats VACANCY RATE (PERCENTAGE) 1.8% SALES PRICE (PER SQUARE FOOT) 26%5-YEAR$219GROWTH
Wilton Manors, also known as "Island City," is uniquely surrounded by forks in the Middle River, which makes it an actual island with plenty of water and wildlife.
| Wilton Outlook 2022\ 20\
Shop/Dine
Residents and visitors come from all over to visit the arts and culture scene on Wilton Drive, which is the city's main thoroughfare and heart.
Aside from the bustling epicenter, the town has 30+ bars and restaurants, 20+ boutique shops, a dozen familyfriendly parks, a weekend farmers market, multiple galleries and museums, and a nature trail that winds through a mangrove-lined preserve for all to enjoy.
21Wilton Outlook 2022 | Who’s Here?
Travel FortInternationalLauderdale-HollywoodAirport(FLL) 28.1M passengers One of the fastestrecovering airports in the U.S. in 2021 Port Everglades 3.9M passengers One of the three busiest cruise ports in the World Fort Lauderdale Executive Airport (FXE) 200K passengers A $2 billion total economic impact
City of Wilton Manors • 800,000 Annual Visitors • 40+ Annual Events and Festivals • Home to the area's largest Stonewall Pride Parade & Street Festival-50,000+ attendees - 20% attendees from out of town - $1.2 Million Total Economic Impact
25Wilton Outlook 2022 | Market Overview Future
DEVELOPMENTSPROPOSED 1. Pride Factory Retail 2. Aperitivo Lounge at Bona Retail 3. Smile Empanadas Retail 4. Mamma Mia Bistro Retail 5. Starbucks Retail 6. Wilton Coworx Coworking 7. Premier Reality Real Estate BUSINESSESNEW 1. Stellar at East Village Multifamily • 250 Units 2. The Ave Multifamily • 186 Units 3. Wilma on the Drive Mixed-Use • 252 Units 4. RD Wilton Manors Residential Mixed-Use • 320 Units DEVELOPMENTSNEW CONSTRUCTIONUNDER 1. Starbucks Retail 2. 1985 N Andrews Ave Retail 3. Residences at Equality Park Multifamily Senior Affordable Housing • 48 Units 4. Wilton Springs Townhomes • 8 Units 5. The Village at Wilton Manors Townhomes • 14 Units 1. Wilton Andrews Office Building Office/Retail | Wilton Outlook 2022\ 26\ Grow
ProposedNewUnderNewLEGENDBusinessesConstructionDevelopementsDevelopements 27Wilton Outlook 2022 |
Proposed Developments 250 UNITS MULTIFAMILY 186 UNITS MULTIFAMILY Stellar at EastTheVillageAve
320 UNITS MIXED-USE 252 UNITS MIXED-USE RD Wilton Manors Wilma on the Drive
| Wilton Outlook 2022\ 30\ SOURCES & CREDITS. • Axiometrics • Bureau of Labor Statistics • City of Wilton Manors • Colliers International Florida, Inc. • CoStar Group • ESRI Business Analyst 2022 • Florida Realtors • Greater Fort Lauderdale Alliance • Greater Fort Lauderdale Visitors & Convention Bureau • MPF Research • Port Everglades • U.S. Census Bureau The following sources were used for this report: COLLIERS INTERNATIONAL FLORIDA, LLC | 200 EAST BROWARD BOULEVARD, SUITE 120, FORT LAUDERDALE, FL 33301 | +1 954 652 4600 | colliers.com/southflorida This document has been prepared by Colliers International and the City of Wilton Manors for advertising and general information only. Colliers International and the City of Wilton Manors make no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International and the City of Wilton Manors excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and the City of Wilton Manors and/or its licensor(s). ©2022. All rights reserved. REPORT CONTRIBUTORS Ken Krasnow | Vice Chairmain, Institutional Investor Services | Florida | ken.krasnow@colliers.com Verity Mosquera, MBA | Research & Consulting Manager | verity.mosquera@colliers.com Maria Russo | Senior Marketing Manager | maria.russo@colliers.com
City of Wilton Manors 2020 Wilton Drive Wilton Manors, FL WILTONwiltonmanors.com33305OUTLOOK
