The economics of development in South Florida | TRD Broward Showcase and Forum

Amid the current market slowdown, finding funding for new developments can be difficult. That's why The Real Deal gathered a handful of industry experts for a panel on the economics of development in South Florida, at our third annual Broward Showcase and Forum. The group broke down the strategies for building and selling, what the challenges are and where the opportunities lie.

“It’s all about the product and the underwriting and the developers,” said panelist Jimmy Tate, CEO of Tate Capital, which is redeveloping Bahia Mar in Fort Lauderdale.

There was consensus amongst the group that the market is unlikely to crash like it did in 2007 and 2008--rather, panelist Shahab Karmely suggested, it will gently waiver, but ultimately grow. His advice was to focus on the commercial side of things when residential slows down, and vice versa.

The panel, which was moderated by TRD's managing web editor Hiten Samtani, also featured Louise Sunshine, who explained how she "developed the art of the presale in New York City" adding that the brokers in South Florida hadn't got to grips with it yet. Also in the mix was Jerry Hollo, whose firm Florida East Coast Realty secured one of the biggest construction loans this cycle in 2015 for Panorama (slated to open later this year).

To see the panel in full, watch the video above.

Видео The economics of development in South Florida | TRD Broward Showcase and Forum канала The Real Deal