Construction cranes have dominated the Fort Lauderdale skyline for more than a decade as developer after developer came forward with plans for taller and taller towers in and around downtown, fueling an unprecedented and head-spinning construction boom.
But that fast-paced growth has finally hit the skids for a number of reasons, including rising interest rates, a nationwide downturn and a volatile financial market, according to developers who shared their insights with the South Florida Sun Sentinel.
“Things are definitely slowing down. A number of projects have started and stopped,” said Charlie Ladd, a high-profile developer who sits on the seven-member board of directors for Fort Lauderdale’s Downtown Development Authority. “Things are really pretty much stuck. It’s the slowest it’s been in downtown Fort Lauderdale in the past 20 years. It’s definitely winding down.”…