*5 years after the Champlain Towers South collapse took the lives of 98 residents in Surfside, Florida, not one apartment has bought within the luxurious growth rising as an alternative.
Dubai-based developer Damac Properties, which paid $120 million for the 1.8-acre website in a court-ordered public sale in 2022, has but to generate a single confirmed sale, PEOPLE experiences. The redevelopment was met with vital public opposition, as voices in the neighborhood argued the grounds ought to function a spot of remembrance for these misplaced within the 2021 catastrophe.
The corporate unveiled the Delmore in January 2025 — a 12-story boutique condominium that includes 37 models beginning at $15 million, with common costs ranging between $35 and $40 million and penthouses doubtlessly exceeding $150 million.
A single dwelling hasn’t bought within the luxe apartment rising on the tragic website of the deadly Surfside collapse https://t.co/oPGEKSNYfs pic.twitter.com/cndpAO9mdI
— New York Put up (@nypost) April 16, 2026
Not one contract has been signed. Jeffrey Rossely, a senior vp of growth at Damac, acknowledged the undertaking’s debut was not nicely timed, The Actual Deal experiences.
“The preliminary gentle launch we did in January 2025 was untimely,” he stated. “We mentioned that with the gross sales workforce. We thought we might have the gross sales gallery completed in February [2025]. We additionally thought the market would decide up after the inauguration of the President.”
Rossely additionally pointed to Damac’s restricted U.S. growth monitor document as a contributing issue, noting the corporate has primarily constructed throughout the UAE, Saudi Arabia, Iraq, and the U.Ok. “There’s a level of affordable skepticism so we wanted to show this was going to occur,” he stated.
The corporate is now weighing a potential partnership with an out of doors developer to maneuver the undertaking ahead. “Plenty of events have approached us, and we’re having discussions to see whether or not we go down that route however certainly not would we be leaving the undertaking,” Rossely stated.
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