Top developers on their reasons for doubling down in South Florida market

Jon Paul Pérez and Gil Dezer sat with TRD's Amir Korangy for latest episode of Coffee Talk

TRD MIAMI /
Sep.September 29, 2020 04:50 PM

For some Miami developers, the last few months have provided an opportunity to “double down.”

“Our affordable division is extremely active,” Jon Paul Pérez, executive vice president of Related Group, said during The Real Deal’s latest episode of Coffee Talks. Pérez noted that Related has broken ground on three projects in the last 45 days.

Another guest on the episode, Dezer Development founder Gil Dezer, also remains bullish on building across Miami.

Last week, Dezer received the first approval for a massive project at North Miami Beach’s Intracoastal Mall, despite opposition.

When asked about financing for the project, Dezer said that his company has been covering all costs. “We don’t have financing today, but we don’t necessarily need it today either,” he noted.

For Pérez and Related — the largest developer in South Florida — there are opportunities away from the luxury beachfront markets. “We’re very bullish in Wynwood,” he said. “I think that’s one of the neighborhoods that has the most growth potential.” He noted that Related owns four sites there, which it will transform into 2,000 units, and is finishing a new headquarters in Coconut Grove.

The pair are competitors and collaborators: Dezer and Related teamed up on the Residences by Armani/Casa last year. Closings began in December 2019, and Dezer said it was just in time:  “We had our opening party, and a week later, Covid happened. Sometimes you have more luck than brains.”

Watch the video above for more top developer takes on the Miami market.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Joe Biden (Credit: Leigh Vogel/Getty Images)

“Your rent will be increased” if Biden wins, landlord allegedly tells tenants

“Your rent will be increased” if Biden wins, landlord allegedly tells tenants
An aerial view of a pop-up drive-in theater built in the parking lot at the Broadway Commons in Hicksville, New York (Getty)

Covid pummeled shopping centers, but their parking lots are thriving

Covid pummeled shopping centers, but their parking lots are thriving
French buyers are gobbling up prime London real estate

French buyers are gobbling up prime London real estate

French buyers are gobbling up prime London real estate
20 West 33rd Street (20West33rd)

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project
902 Drew Street and 400 East 58th Street (Google Maps)

New York’s multifamily sales improve in Q3

New York’s multifamily sales improve in Q3
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...