Developer Lewis Swezy proposes a 132-unit affordable apartment project in Miami-Dade County’s Princeton neighborhood. The plan comes at a time when South Florida developers continue to focus on public housing, which can better withstand the current economic climate of high interest rates and uncertain debt and equity financing. Swezy, through his Miami Lakes-based Centennial Management, […]
According to Zillow, the average rent in the U.S. rose to just under $2,000 per month in April. Tenants today must earn 36% more than in 2019 to be able to afford an average rent. While rental growth continues, the advance in multi-family housing construction has slowed. Tenants are simply out of luck: the average […]
13th Floor Investments secured an $83 million construction loan for a proposed 398-unit apartment complex in Hallandale Beach. The deal comes at a time when South Florida is experiencing a sustained flow of financing despite high interest rates and multifamily construction is reaching a record level. 13th Floor, led by managing partner Arnaud Karsenti, is […]
