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City of Wilton Manors_Wilton Outlook 2022_Mobile
WILTON OUTLOOK
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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
Welcome to the City of Wilton Manors!
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.
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.
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!
Scott NewtonMayor of Wilton Manors
Table of Contents
At a Glance
City Map
Market Overview
Live Work Shop/Dine Travel
Future Growth
Grow Proposed Developments
At a Glances
City of Wilton Manors
3.0
Miles to Downtown FL
11,500+
Total Population
6,700+
Total Employees
1,180
Total Businesses
Live
City
of Wilton Manors
Broward County
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!
2022
11,5581,978,906
Population
2027
11,749 1,998,655
Population
51 42
Median Age
$69,175
Median Household Income
$63,364$58,154
$76,885
Median Disposable Income
1.7%
Growth Rate
1.0%
Growth Rate
0-24 25-44 45-64
65+
13.8% 25.6% 38.2% 22.5%
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Demographics
$64,691 $117,685
Per Capita Income
Average Household Income
$76,885 14.9%
Median Household Income
Forecasted Median HH Income Growth (2022-2027)
69% 10% 17% 3% 5% 13%
White
Black
HIspanic
Asian
Other
Multiple
Races
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Live
Residential Market Stats
Broward County
City of Wilton Manors
Downtown Fort Lauderdale
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%
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
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Condo Market Stats Broward County City of Wilton ManorsQ2 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%
“
“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
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%
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Leading Sectors
The City of Wilton Manors boasts a diverse range of people and businesses that thrive in this quaint, small-town feel Community paired with close proximity to urban (and beachside) life. Legal & Professional Services is the leading sector, followed by Retail, Real Estate & Construction, and Food Service & Hospitality sectors. The City of Wilton Manors has a wide-range of shopping, dining and entertainment offerings that appeal to both residents and visitors alike.
Legal and Professional Services 19%
Retail 12.4%
Real Estate & Construction 11.1%
Food Service & Hospitality 8.3%
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Testimonials
“
“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.”
Anthony LoGrande Wilton Drive Improvement District
“
"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."
Chris Krzemien RE/MAX Experience
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“
“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.”
Claudia Castillo Claudia Castillo Art Studio
“
“
“Small
“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
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.”
Peter Jackson Wilton Manors Business Association
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Work
Educational Attainment
Population (Age 25+)
9,970
High School Graduate Only
16.4%
Bachelor's Degree and Higher
49.1%
Graduate/Professional Degree
17.8%
1,180 BUSINESSES
Market Drivers
Fort Lauderdale Beach Hugh Taylor Birch State Park Downtown Fort Lauderdale CBD Brightline Virgin Station Fort Lauderdale Las Olas Beach Fort Lauderdale Executive Airport Fort Lauderdale-Hollywood International Airport Port Everglades
1.5 miles 2.6 miles 3.0 miles 3.2 miles 3.5 miles 5 miles 8 miles 8 miles
6,737 EMPLOYEES
58 EMPLOYEE TO RESIDENT RATIO
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Shop/Dine
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. 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.
Retail Market Stats
INVENTORY
(SQUARE FEET)
1.08 MSF
VACANCY RATE
(PERCENTAGE)
1.8%
SALES PRICE
(PER SQUARE FOOT)
$219
5-YEAR GROWTH
26%
ASKING RENTAL
RATE (NNN)
$33.34
5-YEAR GROWTH
19%
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Who’s Here?
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Travel
Fort Lauderdale-Hollywood International Airport (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
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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
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Future
Market Overview
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Grow
NEW DEVELOPMENTS
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
UNDER CONSTRUCTION
1. Wilton Andrews Office Building Office/Retail
PROPOSED DEVELOPMENTS
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
NEW BUSINESSES
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
OP3D MAP LEGEND
Middle River District Warehouse Flex Downtown Core Intown Neighborhood Northend Townhomes
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LEGEND
New Developements New Businesses Under Construction Proposed Developements
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Proposed Developments
Stellar at East Village
250 UNITS
MULTIFAMILY
The Ave
186 UNITS
MULTIFAMILY
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Wilma on the Drive
252 UNITS
MIXED-USE
RD Wilton Manors
320 UNITS
MIXED-USE
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SOURCES & CREDITS.
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 2022
• 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 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
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.
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WILTON OUTLOOK
City of Wilton Manors 2020 Wilton Drive Wilton Manors, FL 33305 wiltonmanors.com
