South Florida’s biggest condo developers are finally bowing to a shaky market

JDS says it plans to break ground on Monad Terrace in South Beach this year.

From the June issue: After a dismal 2016, condo developers were ready to put the year behind them. The election, the strong dollar, political instability in key Latin American markets — it all sounded like a broken record.

To make matters worse, the first quarter of 2017, which the industry had hoped would prove a turning point, instead revealed an accelerated slowdown.

South Florida’s condo developers are increasingly holding off on launch dates, extending timelines and even canceling projects. But these head honchos of real estate are not sitting idly by. The region’s top developers are shifting their attention from condos to multifamily and commercial development. [more]

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/top-developers-mix-it-up/#new_tab
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