Dive Brief:

• If anyone needed more proof that the South Florida condominium market has shaken off its recession problems, Related Group has submitted two more items as evidence – multistory projects in South Beach's South of Fifth neighborhood.
• The One Ocean and Marea projects will have 46 and 30 units, respectively, and One Ocean will have four villas as well when Plaza Construction finishes them next year.
• The two new projects – One Ocean will be seven stories and Marea will be six – give Plaza four Related Group jobs in progress with a total value of $498 million.

Dive Insight:

Condominiums are not something banks are ready to finance in many places as the recovery moves slowly ahead. The Florida market, however, has been notable for its rebound, driven in part by foreign investors who are willing to lay out large front money to eliminate the funding problem.