Developers have always looked for opportunities to buy beachfront assets that can be repurposed, but after the tragic collapse of Champlain Towers South in Surfside, coupled with rising insurance costs and new condo laws, it’s making more and more sense for some condo owners to consider condo termination.
Condo termination is not a new concept in South Florida, but as supply is diminishing, it’s a good time for investors to look for ideal inventory before it runs outs. That’s according to Taylor Collins, a managing partner of South Florida-based Two Roads Development.
