Innovation, technology and new demand are a driving force in South Florida’s real estate industry as the overall marketplace shows signs of improvement, insiders revealed during REact 2024, the premier real estate conference hosted by the Hollo School of Real Estate at FIU Business Nov. 8.
The annual conference, now in its fourth year, brought together a crowd of 200-plus attendees. “Strategic Innovations: Next Gen Development, Investment and Management,” explored the latest trends set to drive further growth in Miami's real estate landscape.
The day kicked off with “Next Gen Real Estate: Innovative Visions for Today's Business Challenges,” a talk featuring six panelists who have followed their elders’ footsteps, joining family-owned companies or establishing their own after “growing up” in the industry.
The world is entirely different, they agreed.
“Before, the dream was a house in the suburbs. The next generation is looking for a downtown, urban setting,” said Austin Hollo, chief operating officer at Florida East Coast Realty. “They want mobility, vitality; to go from work to dinner and not have a car.”
Amenities are also a premium, whether it’s a movie theater and three swimming pools at a Brickell hi-rise or a doctor’s office, nail salon and supermarket at many neighborhood strip malls. “Rents are less, and consumers can find multiple services; they can do more at a center,” said Ana Maria Rodriguez, CEO of Arena Capital.
A growing trend at Related Group is to give high-profile influencers a free place to live in exchange for their showing off how great their properties are, explained Tim Zeitoun, director of acquisitions.
“It’s a great way to advertise,” he said. “You want to differentiate yourself.”
In an early afternoon chat, Dayssi Olarte de Kanavos, president of Flag Luxury Group shared her thoughts on the most transformative shifts in Miami's real estate market. She recalled that Miami, up until maybe 25 or 30 years ago, was a seasonal city whereas now it’s in demand year-round.
“We had the snowbirds that came in and left, and then from April through November it was basically dead,” Olarte said. “Today everybody wants to be here, every big corporation, the Bezos of the world are moving here and so forth; people that can choose anywhere in the world to live. It tells you that Miami has arrived.”
Lissette Calderon, CEO of Neology Development Group, recalled that it was a challenge that impacted her directly – not finding the right place to live in Miami - what drove her into real estate development.
“There was nowhere in downtown, in an urban neighborhood that was cool and affordable and that afforded the lifestyle that I wanted at a right price point,” she said. “That would be the onset of our business.”
In a second fireside chat, Chad Moss (BS ’94), CEO of Moss Family Office, discussed the role technology and innovation are playing in the development of new construction projects.
“If you're ignoring technology right now, you're behind. If you're not adapting to what's going on right now in the world, you're behind,” Moss said. “We've fully embraced it. It's not perfect, but we're making it perfect.”
Another hot topic: solar energy. How rapidly the sector is growing and the impact it’s having on business and development.
“There’s a huge need of power,” said Moss. “So, look at the market and where it's trending, look at your data centers, look at your power sectors, look at how solar can impact that. “Energy independence is the play for this country period, and solar is the play.”
At the conference, veteran real estate executive Glenn Rufrano (MS ’74) received the Lifetime Achievement Award. He is currently executive chairman of PREIT, a retail real estate firm, and is also chair of the International Council of Shopping Centers (ICSC) Foundation.
“FIU has been very helpful to me and my business, my career and I’m now so happy to help with them and their growth to help them provide for their students so that they can reach their goals and take over for us older generations,” Rufrano said via video from New York. “We’re providing the seeds for real estate going into the future and I’m so happy to be a part of that.”
Rounding out the afternoon, Eli Beracha, director of the Hollo School of Real Estate, noted that the overall US economy is robust, but showing some area of weakness and the “soft landing” that everybody was hoping for appears likely.
Commercial real estate, which recently corrected about 20%, is now stabilizing, with healthy vacancy levels and growth of net operating income.
“Retail is one of the brightest spots,” Beracha said. “For a very long time many investors were saying retail is dead because everybody is going to buy online and nobody built anything. As a result, today the lowest vacancy level is in retail.”
On the multi-family front, the housing shortage in the U.S. stands at roughly four million units with 200,000 of them in Southeast Florida he said. While household sentiment toward buying a home is at an all-time low, Beracha noted, housing prices are stable.
“People are willing to buy for the right price,” he said. “If you’re looking to buy in Florida, be careful with Tampa and Orlando – it’s a bit early to invest there. If I were to choose now, I would choose Broward and long-term I see a lot of opportunity in the West coast of Florida.”
The 2025 REact Real Estate Conference will be held Nov. 14, 2025.