Gunster real estate attorney Brian Belt recently spoke with Miami Today about the rising costs of residential construction in the region. The article, No slowdown seen in rise of residential construction costs, was published on July 23.
According to the article, there continues to be a growing demand for new homes in the area – but the building boom is countered by increased wages across the board. There has been a significant loss of laborers and rise in general contractors’ fees on projects since the recession, Belt noted.
Demand is strong for more expensive projects (say, at $1,000 per square foot), Belt told Miami Today, and the hope is that rising residential construction costs turn around in the next year.
Belt practices in the areas of real estate, hospitality and corporate law. He has represented owners, lenders and developers of real estate, condominium, marina and hospitality projects throughout the country and internationally. His experience includes acquisition and sales, due diligence, restructuring, land use, leasing, construction and financing.