The Miami real estate market truly has rebounded since the economic crash in 2008. Fortunately, the leading condo developers have learned from their mistakes and are approaching construction differently these days. In particular, the Related Group of Florida, under the leadership of chairman and CEO Jorge Perez, has really focused on diversifying its portfolio to include pre-construction condos, as well as affordable housing and multi-family market rentals.
During the real estate boom years ago, the Related Group primarily focused on the construction of condo projects, and it borrowed approximately 85 percent of a project’s cost from banks. Because of the limited focus, the crash nearly destroyed the company. Now, even if the condo market ends up slowing down or faltering, the company has money invested in other projects to keep things going, and it only borrows 40-50 percent to fund its construction projects.
Many of the construction projects underway involve the development of Brickell condos, and 
the company is really transforming that particular area of Miami for the better. Most real estate professionals in Miami are optimistic that the Related Group is applying the tough lessons it learned and really making an effort to avoid repeating past mistakes. Hopefully, others will follow the Related Group’s lead on this more sustainable path.