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As borrowing becomes more affordable, construction costs stabilize, and market liquidity improves, many investors, currently sitting on significant dry powder, are eager to re-enter the market.

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The De La Cruz Collection building closed following the death of Rosa De La Cruz at age 81 in February.

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The hotelwould feature 823 lodging units and 339 parking spaces.

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Seven supertall towers are currently planned across Miami.

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The two major productions will inject approximately $12 million into the local economy.