If location is the key to real estate success, Sergio Pino knows that
flexibility is helpful in tough times. How else to explain how one of
South Florida’s most prominent developers, has gone from touting luxury
condominium apartments to renting flea market stalls?
The head of Century Homebuilders, which bills itself as the largest
Hispanic homebuilding company in the country, is now running Century
Marketplace, a west Miami flea market. The collection of market stalls,
once called the Flagler Flea Market, was evicted from its former home
in the parking lot of the Flagler Dog Track. It was on the verge of
folding when Pino stepped in and offered it space on land where he had
once planned to build a mixed-use condo-retail development. The current market makes that plan unfeasible for the time being, and
that inspired Pino’s daughter Jackie to seek a zoning variance,
encourage the market to relocate and take charge of renting the stalls.