There are more than a dozen condominium towers in Miami-Dade County that could be demolished for luxury homes if the county’s residents want to live in them.
The county recently approved plans for two condominium developments, one on South Park Avenue and another in West Palm Beach, both with plans to demolish the condominium buildings to make room for luxury apartments.
Miami-Duke University professor John Dominguez, who studies condominium development, said the developers will not be able to compete with the homes being built in the area, which are “so low-rise and so low-density.”
He also said it would make no sense for the county to subsidize a condominium building in a place where there are already high-density condos and a hotel is under construction.
“If you’re going to subsidise it, you should at least subsidise the high-end housing,” he said.
“There are no luxury condominium projects in Miami.”
Dominguez said he expects that the developers of the luxury condottages in Miami and West Palm will not receive any financial incentives to build their units.
Instead, they will have to raise property taxes.
Dating back to the 1960s, the county is among the most expensive in the nation to buy a condo, according to the real estate website Trulia.
Many of the new condominium properties in the Miami-Pines area are in areas where the condo market is struggling.
According to a report from the Miami Beach-based firm RealtyTrac, the number of condo sales in Miami rose 1.2 percent in 2016, compared to the same year in 2015.
A condominium developer is hoping to expand their business by expanding into the surrounding neighborhoods.
The project is called A1 Residences and would include a new office building, hotel, and a new golf course.
If approved, the development would be the largest condominium project in Miami’s history.
In recent years, Miami has been plagued by a housing shortage, as well as a high-profile case of a developer demolishing a condo project to build a luxury condo.
In 2015, Miami-based developer Rydberg Development demolished a condo building to build luxury condos, killing an estimated 50 people.
In January, a developer in Miami, DTL Properties, demolished a condopulation condo project, killing two people.
On Friday, Miami Mayor Carlos Gimenez said he was “deeply disappointed” by the demolition of the condopilation condominium in West Miami.
“I have been committed to protecting Miami’s affordable housing stock and I will continue to fight for that,” Gimenez told the Miami Herald.
He also said he would ask the county commissioners to approve the demolition.
There is still a long way to go before the county has any condominium condominium construction underway.
Domingues and other experts have said that the county could get an extension on its approval process for at least a year.