New Construction News
While multifamily starts surged 13.7% compared to November, the pace of new single-family housing construction slid 2.3%, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
The first phase of the deal comprises 1,424 new single-family homes and townhouses in Tampa, Fla.; Atlanta and Athens, Ga.; and Pinehurst, N.C.
Sales launched this week at The Crosby Miami Worldcenter, a planned 33-story tower with 450 residences in downtown Miami, a news release said.
The median sales price of new homes hit a new high of $416,900.
A new residential real estate development will add 354 luxury condo units across twin towers in Miami’s Brickell Financial District. Miami-based Integra Investments and condominium developer Related Group announced plans for The St. Regis Residences, Miami, this week.
“November’s housing starts report signals strength for the housing market.” — First American deputy chief economist Odeta Kushi
“While 2021 single-family starts are expected to end the year 24% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.” — NAHB chief economist Robert Dietz
Miami got its first glimpse of The Standard Residences, Midtown Miami, during a recent launch celebration held at The Standard Spa Miami Beach, according to a press release. Hosted by The Standard International Executive Chairman Amar Lalvani and Rosso Development CEO Carlos Rosso, the event showcased a preview of the hotel brand’s first-ever residential residences.
There may be a construction boom, but builders still have a lot of ground to make up from a decade of underbuilding, according to a new report from Zillow.
Standard International and Rosso Development recently announced the launch of The Standard Residences in Midtown Miami, the first of its kind in the area, according to a press release.