How the Coconut Grove Land Boom Influenced Today's Title Service Landscape in Miami
June 02, 2023
The Coconut Grove land boom of the late 19th and early 20th centuries changed the face of Miami as we know it today. Although the area has since gone through several redevelopments and land transfers, the initial period of growth and development had a lasting impact on the title services landscape of Miami.
The Coconut Grove land boom began in the late 1880s when Henry Flagler, a prominent railroad magnate, purchased large parcels of land in the area to extend his Florida East Coast Railway. Flagler hired landscape architect and civil engineer William Lyman Phillips to design a city plan for the area. Phillips' plan included several grid-patterned streets, parks, and a central waterfront park. Flagler's development plan also included incentives for developers, such as tax cuts and reduced land prices.
These incentives helped spur a period of rapid growth and development in the area. Developers purchased lots with the goal of building residential and commercial properties, and the population of the city grew exponentially. The population of Coconut Grove increased from about 500 in 1887 to over 5,000 by 1895.
The land boom of Coconut Grove also had an impact on the title services landscape of Miami. The rapid expansion of development in the area caused an increase in title transfers and related services. Title services companies sprang up to handle the increasing demand for legal transfers of land titles. These companies also began to offer a variety of services such as:
- Title searches
- Title insurance policies
- Other related services
The Coconut Grove land boom of the late 19th and early 20th centuries had a lasting impact on the title services landscape in Miami. The incentives offered by Flagler spurred a period of rapid development and population growth, which in turn caused an increase in title transfers and related services. The title services companies that were established in this period continue to provide vital services to the Miami area today.