The biggest real estate opportunity in South Florida today is in-fill housing.
I know. With everything that’s going on in this market, that seems like a very bold statement.
It is a bold statement – but it’s also true. It’s true because the supply of land here is dwindling rapidly. They just aren’t making it anymore.
What’s not dwindling is the supply of people desiring live and work here, or the supply of traffic that those people generate.
Therefore, an increasing number of people in these parts are moving inward – moving into urban areas where they can be closer to work.
They seek a better quality of life, with less time spent on the commute.
If you’ve been in South Florida for any length of time, you know that the commute can be downright awful. Heck, I’ve had an accident and a near-accident myself just recently.
Coconut Grove is a prime example of this urban in-fill movement. The Grove is evolving with new office and retail space. It’s becoming what I call an integrated, high-activity center.
In my new role with Spectrum Mortgage, I’ve been a part of several urban in-fill deals, such as:
– A 10-unit townhome deal in Palm Beach County near the Kravis Center.
– A continuing financing program for a developer who’s doing in-town homes in Coconut Grove, Coral Gables and Aventura.
This movement is about creating an urban landscape that allows people to relax, says renowned architect Bernard Zyscovich. It’s a physical environment that keeps the walkers and the bicyclers away from the cars and trucks – but one that serves everyone well.
Yes, there are still opportunities to buy or develop these in-fill properties. There will be more of them in the future, especially along the Brightline high-speed rail stops.
And there is still financing available even at this point in the business cycle. Buying in the vicinity of these activity centers is a great investment. As the interest in them increases, along with the number of cars on the road, values are going to go up. And up. And up.
This is what’s coming, folks. Close-in housing is the hottest thing right now and will be for years to come. If you want to participate using a mortgage, debt, equity or partnerships, I can help with all of it.
Call me today at 305-773-6300.
Click here to listen to my full outlook on urban in-fill housing in South Florida.