- Shovel-ready and “double-ready” sites are gaining traction among developers looking to mitigate rising construction costs, especially in high-demand markets like Miami.
- These pre-approved sites can save developers hundreds of thousands in planning costs and years in project timelines.
- Miami remains a hotbed for these investments, fueled by an influx of institutional capital, high-income demographics, and favorable zoning conditions.
Why Shovel-Ready Sites Matter
Since the pandemic, building costs have gone up, and new tariffs from President Donald Trump may push them even higher, per GlobeSt. To save money and reduce risk, more developers are turning to shovel-ready sites. These come with permits already approved, cutting years off project schedules.
Virgilio Fernandez, a vice president at Colliers in South Florida, says deals for these properties are picking up. “There’s strong demand,” he told Globe St, “and owners know it, so they’re trying to sell while the market is hot.”
What Makes Sites More Valuable
Fernandez says the most sought-after properties are “double-ready”—with both permits and design plans in place. These projects are easier to start and more attractive to investors.
He adds that deals need to be well planned and cost-effective to stand out. In Miami, developers can save at least $200,000 in early planning work with shovel-ready sites.
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Why Miami Stands Out
Miami continues to be a top market for real estate. The city offers easier zoning rules and has seen a big move of wealth and companies like Citadel and FIFA. While not all employees have moved yet, demand for new homes is expected to grow.
Fernandez believes Miami is better positioned than most cities to handle a slowdown. Its high-income renters and strong market make it a safer bet.
Parking Projects Face Challenges
Not every type of project will work. Fernandez warns that building structured parking garages, especially in less wealthy suburbs like South Dade, may not pay off. “You can’t build it. You’ll lose money,” he said, pointing to low rent rates.
In those areas, cheaper parking setups—like surface lots or simple garages—are more likely to succeed.
What’s Ahead
With more big investors looking at these quick-start projects and luxury homes still doing well, shovel-ready sites are set to stay in demand. As long as building costs stay high and permits take time, developers will keep chasing these ready-to-go deals.
