With the announcement of six new towers to be built in Hollywood, the number of high-rise condominium buildings now planned for South Florida now totals 56, according to the latest count by CondoVultues.
That brings the total of new apartments under construction of planned for construction in the tri-county region to just under 9,400, the Miami-based consulting firm says.
Lest anyone forget – and it seems developers might have – Miami-Dade, Broward and Palm Beach counties were among the hardest hit when the real estate market tanked in 2007. Indeed, some 3,900 units are still left over from the previous boom and remain unsold. And that doesn’t count some 1,800 units acquired by bulk buyers for eventual resale.
Nevertheless, some five years after the South Florida condo market hit the skids, one new tower has already been completed in the region and 11 others are under construction.
