What strategies have emerged in the market to tackle the challenges posed by land scarcity?

The inherent limitations in South Florida, spanning from the ocean to the Everglades, present a unique scenario. As land becomes increasingly scarce, urban infill becomes pivotal. The shift toward vertical development becomes more apparent—where expansion outward isn’t an option, upward growth becomes essential. Enhancing connectivity and walkability are crucial elements. Equally important is the emphasis on well-designed outdoor spaces, ensuring communities have adequate recreational areas. This becomes imperative as land values soar and available space diminishes.

What’s the outlook for your company and the development sector in Palm Beach County?

The present outlook is quite promising, with opportunities continually sought in our market. However, navigating this evolving landscape demands caution. Experience has taught me to remain vigilant, recognizing that economic downturns can surface unexpectedly. The challenges of land scarcity make finding and developing opportunities a complex process. Entitling and developing these opportunities is time-consuming, and time isn’t always on our side given the cyclical nature of our business.

With the current real estate market being robust, how do you anticipate this trend affecting your company and ongoing development deals?

Over the past year post-pandemic, we’ve been fortunate. South Florida’s resilience and the reception of our developments in the market have been incredibly positive. This region’s prosperity has been a significant boon for us. As we move forward, our hope is for this trend to persist, fostering a positive change in the area’s dynamic through continued migration into South Florida. This influx of people has been a significant factor in our success, and we’re optimistic about the future as long as this momentum continues.