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By Brian Bandell, Senior Reporter, South Florida Business Journal
It’s been a busy year for ceremonial silver shovels and construction cranes in South Florida as dozens of major projects have broken ground in 2016.
The residential, industrial, retail and hotel markets were especially active with new developments. The strong demand for construction workers is one reason that development costs have increased.
See the slideshow to view most of the major real estate projects that broke ground in the tri-county area during 2016.
Dodge Data & Analytics measured $9.33 billion in construction starts in South Florida in the first 10 months of 2016, up from $8.36 billion in the same period a year ago. Year-to-date activity was actually flat through September, but then in October projects such as the Square Station apartments in Miami ($300 million), the Ritz-Carlton Residences Sunny Isles Beach $199.6 million), the Bristol condo in West Palm Beach ($170 million) and the 100 Las Olas condo/hotel building in Fort Lauderdale ($152 million) broke ground.