The recent International Council of Shopping Centers conference in Orlando, Florida, had a palpable theme of optimism. Many indicators are showing major signs of improvements statewide in primary, secondary and tertiary markets. With consumer spending up nearly six percent in Q1 of this year, there is data to back up the optimism. Rising job levels, recovering housing prices, tourism growth and an influx of investment capital are all pointing towards positivity, and developers are paying attention.
Taubman Centers and The Forbes Co. are developing about 750,000 square feet of mixed use space in Miami, which puts the project among the largest developments in the United States. Additionally, there’s a $1 billion development called Brickell CityCentre being constructed in Miami. Examples such as this can be found statewide, as developers look to satisfy increasingly excited consumers.