MIAMI—We're hardly crashing. New residential developments are still breaking ground. But the slowdown is evident.

GlobeSt.com caught up with Oscar Rodriguez, principal developer of ROVR Development, to get some insights as to what types of projects are finding success in the slowdown. His firm is developing The Fairchild Coconut Grove, a luxury residential enclave set to rise in Coconut Grove. You can still read part one of this interview: Are Boutique Condos At A Sudden Advantage?

GlobeSt.com: There's a lot of talk of a slowdown in the market. What types of projects are currently seeing success and why?

Rodriguez: We're finding that boutique and specifically, waterfront developments are faring much better than urban high-rise condominiums at the moment. While there is an oversupply in the urban core, the reality is that there are only a finite number of multifamily developments directly on the water, especially boutique developments.

As in most cases, given the opportunity of waterfront versus another location, values being relatively even, the consumer will almost always choose a waterfront location. That's a huge differentiator in South Florida because there isn't oversupply of true waterfront property.

GlobeSt.com: Where are the buyers coming from?

Rodriguez: Miami has really been elevated onto a global stage and we're seeing interest from all over the world, not just one specific area. At The Fairchild Coconut Grove, we have a healthy mix of international buyers, national buyers from other parts of the US, and domestic buyers who are either empty nesters looking for more of an urban experience, or individuals who appreciate the confluence of urban with a waterfront location.

(Will foreign investors keep favoring Miami? Here's one view.)

MIAMI—We're hardly crashing. New residential developments are still breaking ground. But the slowdown is evident.

GlobeSt.com: There's a lot of talk of a slowdown in the market. What types of projects are currently seeing success and why?

GlobeSt.com: Where are the buyers coming from?

(Will foreign investors keep favoring Miami? Here's one view.)

Instant Insights /

Finding Success in the Slowdown

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