Wynwood veteran recommends patience

With Wynwood real estate so hot, a neighborhood pioneer David Lombardi says now is a great time to “do nothing.”

Over the next four years, the broker and founder of Lombardi Properties plans to develop a mixed-use project on 29th Street with 150 residential apartments and 30,000 to 40,000 square feet of retail space, according to Miami Today. Lombardi argues that by then, prices will be more reasonable.

“There are too many things on the horizon to be built, driving construction costs up dramatically,” he told the newspaper.

Lombardi said he learned patience from the last boom.

“There was no building, it was difficult to get materials and prices were way up,” he said. “It was painful. Then, in 2008, I was able to build Museo Vault and it was a pleasure.” [Miami Today] – Christopher Cameron