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Major Miami Beach Real-Estate Projects Nixed by Voters
  + stars: | 2022-11-14 | by ( Deborah Acosta | ) www.wsj.com   time to read: 1 min
Miami Beach voters in a series of referendums last week derailed three major real-estate projects from top U.S. developers, reflecting a budding backlash against certain new development plans for the city. Property developer Stephen Ross , Related Cos. chairman and owner of the Miami Dolphins, had been planning to replace the historic Deauville Beach Resort on Collins Avenue with a new hotel and development. Starwood Capital Management , led by Chief Executive Barry Sternlicht , and Miami developer Don Peebles Jr. have also been preparing to build new office towers near the ocean.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with the Peebles Corporation's Don PeeblesDon Peebles, founder, chairman and CEO of the Peebles Corporation, joins 'The Exchange' to discuss how real rates for mortgages are slowing new home purchases, changes in housing trends impacting the rental market and considerations for property developers amid the current rate environment.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProperty developers are shifting to rental properties as housing demand weakensDon Peebles, founder, chairman and CEO of the Peebles Corporation, joins 'The Exchange' to discuss how real rates for mortgages are slowing new home purchases, how changes in housing trends impacting the rental market and considerations for property developers amid the current rate environment.
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