FL - Champlain Towers South Condo Partial Collapse - 98 Deaths - Surfside #3

[airportwoman]

No one wants to move into luxury tower on notorious plot

A Dubai developer behind a controversial luxury condo project has failed to sell a single unit more than a year after the project was first touted.

www.dailymail.co.uk

And now, a giant luxury condominium building has been built on the land formerly occupied by "Champain Towers" that crashed in 2021 where 98 people died in the deadly building collapse.

The developers seem to be having a difficult time selling any of the condominiums.

I can understand why.

 

[PayrollNerd]

No one wants to move into luxury tower on notorious plot

A Dubai developer behind a controversial luxury condo project has failed to sell a single unit more than a year after the project was first touted.

www.dailymail.co.uk

And now, a giant luxury condominium building has been built on the land formerly occupied by "Champain Towers" that crashed in 2021 where 98 people died in the deadly building collapse.

The developers seem to be having a difficult time selling any of the condominiums.

The condo market tanked the last couple years when the condo association rules changed, as a result of this disaster. Then the back to back hurricanes blew chaos across the state. As a result homeowners insurance has skyrocketed.

Now many long time FL residents are leaving for AL, GA, SC, NC or if they were a snowbird, they're selling their units or homes. There's been a big price correction on a lot of areas of the state.

 

[mickey2942]

That doesn't surprise me in the least. For me it woudn't be about thinking the same thing would happen to these condominiums... more like not wanting to live on hallowed grounds emotionally. It was a shame what happened at that site. It just feels to me like there'd be too much bad energy there. JMO

I agree. Sort of a "Poltergeist" vibe. No one in the United States really has that kind of money, these were pretty much developed for "Big Whales" out of the country. But there are a lot of expensive, exclusive places in Miami to buy, without living on top of a disaster site.

There is now a secondary problem in Florida, condominium buildings are getting inspected, often with results of hefty assessment fees to get up to code, to prevent another disaster. People are sitting on condos that they can't afford to pay for the safety upgrades.

A Florida 'condo cliff' is coming as owners deal with fallout from 2021 Surfside collapse

For some associations, the costs are in the millions of dollars, and condo owners, many of whom are retirees on fixed incomes, are on the hook.

www.cnbc.com