South Florida’s pre-construction condo market will be converting to reality in 2015, with more than 65 new towers with nearly 6,400 units scheduled to be completed east of Interstate 95 in the tri-county region this year.
The new condo projects scheduled to be delivered in 2015 are a fivefold increase from the 20 towers with less than 1,200 units that have been completed in Miami-Dade, Broward and Palm Beach counties since the current real estate cycle began in 2011, according to the pre-construction condo projects website CraneSpotters.com, Peter Zalewski wrote in the Miami Herald. (His firm operates the website CraneSpotters.com.)
After this year, developers in South Florida are scheduled to complete 56 new towers with more than 6,700 new units in 2016; 30 new towers with nearly 5,000 units in 2017 and seven new towers with about 1,800 units in 2018. Miami-Dade County will receive the glut of new condos.
More than 50 new condo towers with nearly 5,400 units are scheduled to be completed in Miami-Dade in 2015. In 2016 developers are planning to deliver 30 new towers with more than 5,000 units, about 18 new towers with nearly 4,400 units in 2017 and five new towers with about 1,700 units in 2018.
In Broward County, developers are scheduled to build 15 new towers with more than 1,000 new units in 2015, 15 new towers with nearly 1,100 units in 2016 and a dozen new towers with about 565 units in 2017. Developers are planning to deliver seven new towers with 1,600 condo units in Broward in 2022. [Miami Herald] — Ina Cordle