“While loans are still available for A and B sites, banks are now more than ever becoming increasingly selective when it comes to lending,” he says. “They are not only looking at specific projects, but also developers' track records and reputations in the market.”

For his part, Rey Melendi, COO of 13^th Floor Investments, has his eyes on transit-oriented development. In fact, he says TOD will be the theme of 2017.

“Millennials have now officially overtaken baby boomers as America's largest generation, and developers will cater to this segment's desire for convenience, connectivity and access to the urban core,” Melendi says. “As downtown's density grows, mixed-use development will emerge in suburban neighborhoods that may be farther out from the city center, but still enjoy proximity to public transit.”

Several economic factors have resulted in net positives for the multifamily sector and prices in core markets are at an all-time high. But just how long can the market continue on this trajectory? Join us at RealShare Apartments East on Feb. 28 and March 1 for insights on succeeding in the right markets as well as navigating and finding opportunities in the more challenging ones. Learn more.

MIAMI—With all the talk of a healthy condo correction and some speculation that projects may stall, what are developers seeing on the ground? We asked two of South Florida's most active developers for insights and predictions.

First, we turned to Taylor Collins, a partner at Two Roads Development, to get his thoughts on the 2017 development pipeline. He told us although the first two quarters of 2016 were slow, he's seen steady growth in the third and fourth quarters that will carry over into the coming year.

“The market took a deep breath in 2016,” Collins says. “I think in 2017, developers and buyers will start to gravitate more towards smaller, high-end boutique developments versus these huge 800- to 1000-unit mega projects of the past.”

Collins is clear: There is still absorption in the market, just not at a pace that would support such big projects. On the financing side, he predicts construction financing will continue to get tighter in 2017.

“While loans are still available for A and B sites, banks are now more than ever becoming increasingly selective when it comes to lending,” he says. “They are not only looking at specific projects, but also developers' track records and reputations in the market.”

For his part, Rey Melendi, COO of 13^th Floor Investments, has his eyes on transit-oriented development. In fact, he says TOD will be the theme of 2017.

“Millennials have now officially overtaken baby boomers as America's largest generation, and developers will cater to this segment's desire for convenience, connectivity and access to the urban core,” Melendi says. “As downtown's density grows, mixed-use development will emerge in suburban neighborhoods that may be farther out from the city center, but still enjoy proximity to public transit.”

Several economic factors have resulted in net positives for the multifamily sector and prices in core markets are at an all-time high. But just how long can the market continue on this trajectory? Join us at RealShare Apartments East on Feb. 28 and March 1 for insights on succeeding in the right markets as well as navigating and finding opportunities in the more challenging ones. Learn more.