Many large projects have a single development entity. That means one chain of command, one lender relationship, and one decision-maker. Miami Worldcenter did not. It had a patchwork of ownership interests: CIM, Falcone Group, Merrimac Ventures, Royal Palm Companies, ZOM Living, and others. The project was fortunate to have such great stakeholders who understood the importance of working together on Miami Worldcenter.
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5 Red Flags That Tell Us a Real Estate Project Will Blow Its Budget
Red flags in a real estate project are not always obvious—but they’re almost always there from the start. We’ve seen it time and time again: a project that looks fine on paper but unravels in the field. The cause? It’s usually baked in from day one. Here are five early warning signs—and the data behind them—that tell us when trouble’s coming.