Related Group, one of the nation’s largest condo developers, is leading South Florida’s new wave of condo construction. Carlos Rosso, president of the company’s condo development division, says the Miami-based company’s projects are smaller than those built during the housing boom, when financing was readily available to developers and condo buyers. The company’s new condo high-rises are mostly financed by buyers’ deposits. Recently, Related started construction of the 42-unit Apogee Beach in Hollywood, and the 192-unit MyBrickell in Miami’s financial district. Related plans to start building the 382-condo Millecento in the Brickell area late this year.
In a question-and-answer session, Rosso commented on the state of the condo market in South Florida, his company’s health in the recession’s wake and its strategy to keep condo prices down as land values in Related’s target areas skyrocket.
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