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Fears Over Older Buildings After Surfside Condo Collapse Lead to Redevelopment Opportunities

“We’re seeing a lot more movement towards a lot more new construction, and I think that falls in line with cutting off the pandemic. There is a need for nicer, newer places to live,” said Dan Dratch, Director of Multifamily Investments at Franklin Street.

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Redevelopment opportunities are growing across South Florida for developers and investors as a result of the June 24 condominium collapse in Surfside.

As South Florida counties require more frequent inspections and earlier recertification for condominiums, and as some insurance companies increase rates for older condos after the collapse, developers, investors and residents are looking for other alternatives. 

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