Tuesday's midterm elections in the United States captured headlines for the political shift in Washington. But while everyone was focused on the balance of power in Congress, voters across the country were making decisions that could have an equally profound impact on real estate development.
I'm talking about ballot initiatives that directly determine whether specific development projects can proceed.
These votes provide a fascinating insight into the political risks associated with real estate development.
Let's start in Miami, Florida.
Voters rejected a proposal to redevelop approximately 28 acres of public waterfront property on Virginia Key.
Voters rejected expansion of an office building in Miami Beach.
Voters rejected expansion of an existing data center in Ohio.
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