MIAMI—Developers with an understanding of Miami's market are tapping into the trending “next generation home”—residences with multiple master suites. These types of developments are becoming more common in Miami and, in some cases, are even illegal once you move north and hit Broward County.

Essentially, developers are doing away with studios and one-bedroom floor plans to accommodate the buyer who plans for the next generation of the home—housing young adult children who have returned or aging parents coming to live with their children. This is another reason for the increase in self-made duplexes within condo developments.

With this trend in mind, the developers of Privé At Island Estates have a strategy for the Reserve Collection that combines two large residences. Meanwhile, the Sky Residences combine two penthouses to create the living spaces to meet the needs of those seeking a next generation home.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.