Wilton Outlook 2024

Page 1


Wilton Outlook

Why Wilton Manors?

QUALITY OF LIFE

INTERNATIONALLY KNOWN LGBTQ+ DESTINATION

URBAN VILLAGE

WALKABLE AND 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

$10M SPENT IN 2023 ON PUBLIC IMPROVEMENTS

Welcome to the City of Wilton Manors!

When the City’s leaders decided to incorporate in 1947, their vision was to create a community that cared for the City's residents. 75 years later, that vision remains. While our Island City has grown from less than 1,000 residents in 1950 to almost 11,300 residents in 2024, we are still a place that welcomes everyone.

Today, Wilton Manors has almost 1,250 businesses and is home to some of the fastestgrowing 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 we have made to ensure that we protect the vision of our founders and prepare our city for the next 75 years.

There’s never been a better time to invest in Wilton Manors! As the City continues redeveloping our major transit-oriented corridors, the Island City is quickly becoming an economic anchor in the South Florida region with more than 800 residential units and a new hotel on the horizon. Furthermore, over 800,000 people visit our city annually, and Wilton Drive, our thriving Arts & Entertainment District, attracts many visitors 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 you will consider being part of the many growth opportunities we offer. I encourage you to discover our wonderful City and learn more about why we believe Life’s Just Better Here!

Table of Contents

At A Glance

• City Map

Market Overview

• Live

• Work

• Shop/Dine

• Travel

Future Growth

• Grow

• Proposed Developments

At a Glance

City of Wilton Manors

3.7

Miles to Downtown FL

11,274

Total Population

7,174

Total Employees

1,241

Total Businesses

Market Overview

City of Wilton Manors

Broward County

2023 11,413 1,979,125 Population 2025 1,985,397 11,691 Population

Source: ESRI, U.S. Census

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!

Source: ESRI, U.S. Census

Live

High Demand Residential Market

• $146 Million in Single Family Home Sales (Wilton Manors 2023)

• $63 Million in Condo and Townhome Sales (Wilton Manors 2023)

• Ranks 10th Best Suburb to Live in Broward County (2023)

• 10th year of HRC MEI 100 rating

• Ranks in the top 3% of Cities to Retire in the US (2023)

• 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 10 years in a row - the ONLY city in our region to do so.

Condo Market

“Being a resident here in the “Island City” means I can enjoy everything that a big city has to offer without sacrificing the small town feel of a tight-knit community. I don’t feel like a number in a crowd here- I know my neighbors and enjoy many of the programs offered through the city’s leisure services department.

Single Family

Leading Sectors

The vibrant City of Wilton Manors offers an appealing blend of small-town charm and convenient access to both urban amenities and beachside leisure. With a population as diverse as its business landscape, this city fosters a welcoming environment for residents and entrepreneurs alike. In terms of employment, Wilton Manors boasts a bustling Retail Trade/Accommodation & Food Services sector, which employs one quarter of the workforce. It is closely followed by Healthcare & Social Assistance, as well as Legal & Professional Services. Beyond its economic backbone, Wilton Manors proudly presents an array of shopping, dining, and entertainment options that cater to the varied tastes of locals and tourists alike. Moreover, its business-friendly climate extends its appeal to a broad spectrum of industries, from finance and insurance to the vibrant arts and entertainment scene, fostering a thriving ecosystem for commercial growth and innovation.

Source: ESRI Business Summary, NAICS Codes 2024

Testimonials

“For over 75 years, the Wilton Manors Business Association (WMBA) has been an advocate for businesses, organizations and individuals who share an entrepreneurial spirit in a community that is thriving and embraces inclusion. WMBA has long been a partner with The City of Wilton Manors to assist businesses not only start-up or relocate here, but also to help them grow. We are truly fortunate to have so many volunteers and organizations who give back in time, talent and treasure to make Wilton Manors 'The Island City' a great place to live, work and play. In Wilton Manors, "Everyone is Welcome Here".

Ron Falk, President Wilton Manors Business Association

“The Wilton Drive Improvement District's mission is to create a safer, more economically viable, and attractive Wilton Drive. The District actively markets and promotes the businesses on the Drive to the larger region and implements initiatives that enhance the pedestrian experience attracting potential customers. The quality of the businesses on the Drive continues to get better each year with more diverse offerings for the community.

Castillo

Artist & Founder, Claudia Castillo ART studio and Chair of the Wilton Drive Improvement District

“Dixie Village is an emerging neighborhood where theaters, art galleries, restaurants, and small businesses are thriving. The City is working with us to improve infrastructure and parking, and we couldn’t be happier.

“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,

“Moss Construction has been proud to call Wilton Manors home for the past 18 years. We started off as a small company and have built a booming national presence thanks in part to the city's supportive and business-friendly environment. We have built strong connections within this vibrant community and appreciate the city's role in our success.

Wilton Manors is home to 1,240 businesses and 7,170 employees to serve 11,300 residents and 800K visitors.

1,240 BUSINESSES

Market Drivers

7,174 EMPLOYEES

64 EMPLOYEE TO RESIDENT RATIO

Shop/Dine

Wilton Manors, also known as the "Island City," is uniquely surrounded by forks in the Middle River, making it an island urban oasis with plenty of water and wildlife. Its vibrant arts and culture scene along Wilton Drive is the city's center, attracting residents and visitors from far and wide. Beyond this bustling epicenter, Wilton Manors is a haven for families, offering nearly a dozen family-friendly parks, programming, a splash park at Mickel Park, and a serene nature trail meandering through a mangrove-lined preserve, providing enjoyment for all. The city's thriving retail market showcases low vacancy rates and increasing rental rates, a testament to its growing popularity and economic vitality.

Retail Market Stats

Who’s Here?

Arts & Entertainment

Our city's vibrant arts and entertainment scene is uniquely highlighted by remarkable live theater venues. Notably, we are home to two full-time LGBTQ+-focused theaters, a cultural distinction that sets us apart.

The nightlife scene is lively and draws regional and national visitors. We offer many bars and nightclubs, from the vibrant LIT bar to the inviting Corner Pub. The Well, Hunters, Alibi, Eagle, No Manors, Drynk Bar, The Pub on the Drive, The Venue, Gym Bar, and The West End are popular spots that contribute to our vibrant scene.

Travel

Fort Lauderdale-Hollywood International Airport (FLL)

35.1M passengers

One of the fastestrecovering airports in the U.S.

Port Everglades

3M passengers

One of the three busiest cruise ports in the World. 3.7M passengers expected in 2024.

City of Wilton Manors

• 800,000 Annual Visitors

• 40+ Annual Events and Festivals

• Home to the area's largest Stonewall Pride Parade & Street Festival and the iconic Halloween Block Party, Wicked Manors

- 50,000+ attendees

- 20% attendees from out of town

- $1.2 Million Total Economic Impact

Fort Lauderdale Executive Airport (FXE)

200K+ passengers

A $2B total economic impact

1.7 Million LGBTQ+ visitors to Broward annually

Future Growth

Proposed Developments

123

Wilma on the Dr 2282 Wilton Dr

Grow

NEW DEVELOPMENTS

1. Wilton Andrew Office Building • 8,219 SF Office/Retail

NEW BUSINESSES

1. Bagels & Co.

2. Pride Factory

3. Mamma Mia Bistro

4. Violet's and Zen's

5. The West End Lounge

6. Java Joes

7. Sardi Cafe

8. Cake Daddy

9. The Well

10. Aunt Jenn's Tea & Spice shop

PROPOSED DEVELOPMENTS

1. Generation at Wilton Manors Mixed Use

• 190 Multifamily units

• 9,000 SF commercial

2. Wilma on the Drive Mixed Use

• 252 Multifamily units

• 25,000 SF commercial (plus approx. 31,000 SF of existing commercial)

3. The Wilton Hotel Hospitality

• 123 Units

• 18 Units 5. Wilton Manors-3 Townhomes LDA 5 Townhomes

• 3 Units

6. 57 Wilton Manors Duplex

• 2 Units 7. 2916 Investments Mixed Use

• 54 Multifamily units

• 1,700 SF commercial

LEGEND

New Developments

New Businesses

Proposed Developments

4. Wilton Yards Townhomes Townhomes

The following sources were used for this report:

• Axiometrics

• Bureau of Labor Statistics

• City of Wilton Manors

• Colliers International Florida, Inc.

• CoStar Group

• ESRI Business Analyst 2024

• Florida Realtors

• Greater Fort Lauderdale Alliance

• Greater Fort Lauderdale Visitors & Convention Bureau

• MPF Research

• Port Everglades

• U.S. Census Bureau

REPORT CONTRIBUTORS

Ken Krasnow | Vice Chair, Institutional Investor Services | Florida | ken.krasnow@colliers.com

Haley Boatright | Research Manager | haley.boatwright@colliers.com

Maria Russo | Senior Marketing Manager | maria.russo@colliers.com

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
Wilton Outlook 2024 by SEMCColliers - Issuu