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South Florida hits milestone with 300th proposed condo tower
Current condominium construction outstripping pace of development between 2003 and 2010
From the South Florida website: South Florida hit a preconstruction milestone with the approval from Miami-Dade County’s Planning & Zoning Board of the 300th new condominium tower of the current real estate cycle.
From 2003 to 2010, the tri-county area saw the creation of fewer than 250 condo towers east of Interstate 95. The distinction of the 300th proposed tower goes to an unnamed development approved on Dec. 2 in North Bay Village. The 22-story mixed-use building will be located on the Kennedy Causeway and feature 721 units.
Greater Downtown Miami leads South Florida in preconstruction condo development with 70 new towers and about 18,000 units proposed since 2011, according to the Miami Herald.
The Hollywood-Hallandale Beach market ranks second with 21 towers and 4,750 units, while downtown Fort Lauderdale comes in third with 24 towers and 2,550 units, the paper reported. [Miami Herald] – Chris Guanche