The Aging Condo Conundrum: Opportunities for Redevelopment

A lack of developable land in Florida, coupled with a rise in demand for commercial and residential real estate, is leading savvy investors to redevelop aging condominiums.

In 2022, the Florida legislature passed a series of laws impacting the nearly 1.5 million condominium units throughout the state – along with the 28,000 associations overseeing the properties. These strict policy changes may open the door to a significant rise in condo redevelopment.

Years of changes in the Florida Condominium Act, reacting to market and other factors, haveposed challenges that may threaten a portion of Florida’s housing supply. But even as Florida grapples with the fallout of legislative changes to its condo law, it offers critical lessons in building a s...