After five years of foreclosures and abandoned condo buildings, downtown Miami may be making a comeback.

"We have to start developing again.  We have clear demand so somebody has to build it," said Harvey Hernandez, president of Newgard Development Group. 

"Our occupancy is up to about 90 percent and that other 10 percent accounts for just turnover, people move out, and people move in," said real estate agent Alicia Cervera La Madrid. 

The proof is 374 units under construction.  It's called The Brickell House and it is the first major project to break ground in the area since 2008. 

"The demand is there, there's no question.  We have sold 120 units in the last 60 days," said Hernandez.

Cervera La Madrid says it makes sense. 

"I think that if you want to buy at the best prices now is the best time to buy in Brickell," she said.

Cervera says people want to live and play where they work.  She says the location is fabulous and the price is right.

But only time will tell if the investment will pay off.