In the Headlines
June 6, 2024
Surging South Florida Condo Demand Pushing Multifamily Developers to Pivot
The Real Deal
Real Estate Partner Shawn Amuial was mentioned in a The Real Deal article about the trend of multifamily developers pivoting to condo projects in South Florida because of surging demand and challenges in the rental market. The article highlighted how factors like rising interest rates, construction costs and a slowdown in rent growth have made some apartment projects less feasible, leading developers to convert planned or existing rental buildings into condos. Mr. Amuial provided insights on the relative ease of converting projects still in the planning phase versus those already under construction.
"If you haven't put a shovel in the ground, then changing the design is less difficult than if you are about to get a TCO," he said.
READ: Surging South Florida Condo Demand Pushing Multifamily Developers to Pivot (Subscription required)
"If you haven't put a shovel in the ground, then changing the design is less difficult than if you are about to get a TCO," he said.
READ: Surging South Florida Condo Demand Pushing Multifamily Developers to Pivot (Subscription required)