Bridge over Tampa Bay in Clearwater, Florida, May 29, 2022. Credit: Kristina Blokhin – stock.adobe.com As South Florida Runs Low on Land to Develop, Some Law Firms Are Looking North for Growth
As South Florida's boom is generating issues with affordability and limited space for construction, some law firms are starting to invest in other regions within the state with abundant land as well as access to water.
February 16, 2024 at 11:28 AM
5 minute read
Southeast
What You Need to Know
- With South Florida facing challenges in affordability and land scarcity, some law firms are keeping an eye on other regions in the state..
- The Tampa Bay area in particular is set to grow dramatically over the next few decades.
- Firms anchored in Florida are still heavily invested in South Florida, but looking north to continue catching growth trends early.
Because Miami-Dade County is wedged between the coastline and the protected Everglades, places to build more are becoming scarcer, prompting more interest from developers in points further up the peninsula.
The scarcity is one of the reasons housing has become so expensive in South Florida, but it's also forcing developers to build horizontally. It's also creating more interest in places like the Tampa Bay region, which boasts more land, affordability and access to water, as well as Orlando. And this shift in priorities is also being reflected in some law firm personnel and strategy decisions.
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