South Florida has a condo problem: too many old units that no one wants to buy, and too few newer, affordable ones. Some developers are changing plans to help shift the balance.
GCF Development is converting a 5-year-old rental tower in Hollywood to condos, even after leasing 90% of the apartments. A recently completed rental project near Fort Lauderdale was taken over by an investor that’s selling the units as condos instead. A partnership just secured financing for a condo conversion in Pompano Beach.
The developers are seizing on demand from an ever-growing buyer pool. Newcomers to the area are ...
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