The influx of new apartment units in South Florida will slow the leasing time for new high-end projects, which will dampen trade activity next year as developers take longer to fill their finished products.
January 24, 2017 at 11:00 AM
1 minute read
Luxury condominium developers step aside. Apartment builders are flooding downtown Miami.
The rental pipeline in Miami’s central business district, including downtown, Brickell and surrounding areas, is poised to surpass its condominium supply for the first time in history, according to the Downtown Development Authority. Over 3,500 apartment units are slated for delivery this year compared with 2,774 condos.
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