Shelved condo projects shrink pipeline of new construction in Miami, Fort Lauderdale: report
BRICKELL VENTURES, LLC has been hearing from developers for 12 months, that any project planned for groundbreaking in 2019-2020, are being delayed until 2021 or 2022. This article gets into further detail about several projects that have been shelved due to the massive glut of condo inventory in Miami-Dade. For developers that have the balance sheet to sit on land for 2-3 years, no major consequences will come. However, some of the less financially stable developers will get push back from there equity backers, and we are likely to see distressed land sales in 12 months or so.