Credit: mimadeo/Adobe StockFla. Real Estate Deal Flow Picked Up Over the Course of 2024, Lawyers Are Bullish That Recent Legislation Will Keep Trend Going
Higher interest rates led to a slower pipeline for real estate projects, but that accelerated in the later half of the year. Preemption issues also dominated the space in addition to efforts involving condo law compliance and affordable housing.
January 02, 2025 at 02:23 PM
6 minute read
What You Need to Know
- After some slowness in new real estate projects, deals are starting to flow again.
- With additional help from the Live Local Act and the county's Rapid Transit Zoning, developers are showing more interest.
- But as condos continue facing expensive repairs, many are still expected to go through terminations in 2025.
After years of booming construction in South Florida to accommodate a mass migration into Miami and its environs, real estate lawyers remain very busy, even if activity is past its peak.
Although higher interest rates did slow real estate projects down generally, 2024 did still see plenty of projects enter the pipeline. Part of the continued activity came as developers sought to take advantage of the state’s Live Local Act, aimed to deliver certain benefits in exchange for building affordable housing units. There was also a big emphasis on public infrastructure projects meant to help accommodate the state’s growing population. But one of the biggest issues in the state continues to be the challenge of aging condos facing expensive code regulations, forcing many associations to terminate their operations.
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