Earlier this month, Bilzin Sumberg’s South Florida Redevelopment Conference engaged hundreds of real estate developers, government staff and officials, architects, engineers, and construction professionals from 12 different states and three different countries in thoughtful discussions about the current real estate market and the future of land development in South Florida. This year’s innovative virtual platform allowed a broader audience to participate in an exploration of market trends, obstacles, and unique opportunities for real estate development and public-private partnerships in the region.
During a session focused on the changing landscape for commercial and residential development, panelists discussed pre-COVID-19 trends and how the realities of a global pandemic subsequently shifted market focus. Prior to the nationwide shutdowns in March of 2020, both office and industrial real estate were in high demand in South Florida. While activity in the industrial sector has remained relatively stable, the demand for office space in the region has grown exponentially over the past year. The shift to remote work for a large portion of the workforce and the luxury of year-round outdoor weather have driven many office employees down south.