Ghosts of the Boom Haunt Miami

by Isaac Benmergui, Esq on November 17, 2011

Although new construction projects are underway and more have been scheduled, Miami’s skyline is dotted with a few ghosts of unfinished projects pasts. Jack McCabe, CEO of McCabe Research and Consulting, even coined a phrase for the phenomenon, “ghost town in the sky.”

In most cases developers didn’t have a lot of their own money invested in the project and when the housing bust occurred, it was easier to walk away. Walking around some of the projects, you can see evidence that other types of tenants have moved in, namely squatters and rodents. With trash surrounding many of the buildings and the sides painted with graffiti, these projects have become an eyesore to communities that believed a developer wanted to revitalize their neighborhood.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email for more information or to set up an appointment today.

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