Developers rethink plans in slow market [South Florida]
The music in the residential real estate market has stopped, but the players still are changing seats.
Developers with unbuilt projects are weighing whether to sell, sit on or find some other use for their dirt.
Rodolfo Gonzalez is an owner of three prime condo sites in West Palm Beach, but Gonzalez said he is selling one site and may redo another into an office/retail complex.
Gonzalez is a member of the ownership group behind The Place Via Clematis, a 296-unit upscale condo once slated for Banyan Boulevard and Rosemary Avenue in downtown West Palm Beach. Sales started swimmingly when the project hit the market in 2004. But then the city needed a sliver of the property for a parking garage, forcing developers to redesign the project.