SoFla condo boom to keep population in check

Miami /
Nov.November 20, 2013 03:45 PM

The condominium boom in South Florida looks like it will keep the population surge from going out of control.

About 70 new units would be built every day to house the daily the influx of 175 new residents, according to Patrick O’Connell of Esslinger Wooten Maxwell, citing state data. Fortunately the pipeline shows enough projects are in sight, though their affordability is unknown. Forty-one new towers and 12,000 units are slated for Downtown Miami alone. Countywide, 23,000 units are planned. Real estate experts gathered last week for Coral Gables Chamber of Commerce’s 2013 Real Estate Outlook lunch to discuss the population growth’s impact on real estate.

“A lot of the new units that we’re seeing aren’t necessarily the ones that are affordable for the residents moving here,” O’Connell told Miami Today.

Miami Today publisher and moderator Michael Lewis said the long-term plan for stability should be develop high-end employment and entrepreneurial opportunities for the expanding base of residents. [Miami Today]Mark Maurer


Related Articles

arrow_forward_ios
From left: Belong co-founders Tyler Infelise, Ale Resnik, and Owen Savir (Belong, Getty Images, Google Maps)
Lease roundup: Rentals manager Belong moves HQ to Brickell
Lease roundup: Rentals manager Belong moves HQ to Brickell
MG Developer's Alirio Torrealba with 3191 Southwest 39th Avenue and 3160 Southwest 38th Court (LinkedIn, Google Maps)
MG completes Miami apartments dev site assemblage
MG completes Miami apartments dev site assemblage
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
SecureSpace’s Nathan McElmurry with 2811 Coral Way
SecureSpace pays $23M for Coral Way self-storage facility
SecureSpace pays $23M for Coral Way self-storage facility
From left: Hines' Jef­frey Hines and Alfonso Munk; Nolan Reynolds International’s Charles Nolan Jr.; 54 Madison Partners’ CEO Henry Silverman; Nolan Reynolds International’s Brent Reynolds; and the Gables Station at 235 and 237 South Dixie Highway in Coral Gables (Hines, Getty Images, Nolan Reynolds International, Gables Station Miami)
Hines pays $430M for mixed-use Gables Station
Hines pays $430M for mixed-use Gables Station
A photo illustration of Asia Brickell Key (Getty Images, Google Maps/Ed Florez)
Asia on Brickell Key tops Miami-Dade’s weekly condo sales
Asia on Brickell Key tops Miami-Dade’s weekly condo sales
Nuveen Real Estate's Mike Sales with the Waterford Business District
Lease roundup: Nuveen, Allianz ink 6 new tenants at Waterford Biz District
Lease roundup: Nuveen, Allianz ink 6 new tenants at Waterford Biz District
800 South Dixie Highway and Location Ventures ceo Rishi Kapoor (Location Ventures, Orduna Courts, Getty)
Location Ventures sells Coral Gables luxury student co-living building
Location Ventures sells Coral Gables luxury student co-living building
arrow_forward_ios

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

Loading...