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.

As we approach the end of 2024, several legal and economic developments are coming to a head for condominiums. From a key statutory deadline and long-awaited court rulings to an imploding market for older condominium units, here is what to watch for in the coming months as Florida’s condominiu...