As Miami Apartment Projects Stall, Developers Pivot To Condos Instead

“Traditionally, it's the exact opposite. Traditionally, it’s much safer to build multifamily than condo,” said Jon Gitman, partner at Miami-based lender BridgeInvest. ”But sitting here in today's market, with the cost inflation and the lack of clarity, if you can prove the project then it may, in fact, be safer to do condo development than multifamily.”

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