Developer SeanMcCormick is looking for a joint venture partner and investors tohelp develop The Basel Miami, a 36-story office-hotel tower onproperty McCormick has owned since the 1970s at 205 SW Third St. indowntown Miami. Courtesy of Palma & Partners
The appetite for opportunityzone projects already was strong in South Floridabefore the federal government released a second round ofregulations.
➤➤Join the GlobeSt.com ADAPT: Opportunity Zonesconference September 16-17 in Baltimore, MD The new nationalconference series is aimed at identifying Opportunity Zones acrossall property types and geographic regions. This first-of-its-kindevent will educate, connect and celebrate the investors, developersand owners with the people behind the planning and decision-making,such as architects, consultants, academics and, most importantly,municipal officials. Clickhere to register and view theagenda.
In most real estate circles, developers and investors were seenas waiting for the latest OZ guidelines before embarking onprojects. Not so in South Florida.
The relatively robust market had emerging areas like the MiamiRiver District and Delray Beach, and preliminary regulations wereenough for some developers to embark on OZ projects before theTrumpadministration released another 169 pages ofguidelines last week.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
