Related Group’s Jessica Melendez discusses development trends in this highly competitive market with MHN’s Laura Calugar.
Back in the ’90s, Jessica Melendez was studying finance at the University of Miami. At one point, she decided to take an art class, which immediately sparked an interest in real estate.
“What really motivated me is not seeing many women in the development world at that time,” Melendez said in the May episode of the Mission Success: Women in Multifamily podcast series.
Today, she is the senior vice president of development at Related Group, a company with a 40-year track record. It was founded by Jorge Perez, often dubbed “the condo king of South Florida.”
Melendez has been actively involved in projects across Florida for more than two decades. She believes Miami is one of the most active and competitive markets in the country, but also very complex. Developers today need to navigate the perfect storm: insurance premiums, unpredictable construction costs and fluctuating interest rates.
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“Getting deals to pencil today and getting them across the finish line is harder than it’s been in years,” Melendez said.
But that hasn’t stopped her. She continues to be motivated by her work, but also by her ability to mentor the younger generation. Tune in for a conversation about leveraging relationships and pushing deals forward in one of the hottest multifamily markets in the country.
Here are the main topics discussed:
- Who is Jessica Melendez? (1:04)
- How South Florida has grown over the years (5:12)
- Sourcing deals (7:10)
- Do new developments pencil out? (10:20)
- Hottest areas for multifamily development in South Florida
- Related Group’s latest projects
- What it feels to contribute to Miami’s transformation
- Reasons to stay motivated
- The next generation of multifamily professionals
- What’s next
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