Maximizing Growth In South Florida: Moderno Development Group’s Doron Broman At Bisnow’s Broward County State Of The Market Event

Broward County is on the rise. The county had 12,000 multifamily units under construction at the end of 2022, the largest construction pipeline the area has seen in more than three years. The area also added 37,000 new jobs in the last few years, further highlighting that both businesses and individuals are taking notice of this booming Florida hub.

Doron Broman, founder and managing partner at Moderno Development Group, has seen these changes in Broward County and told Bisnow that he is excited for the opportunity to take part in the area’s continued growth. At the same time, Broman is also aware of some of the challenges that still exist in the market. 

“We need to cut through the bureaucracy to create more affordable housing for all communities in Broward County,” Broman said. 

Broman and several other local commercial real estate leaders, including Robin Bird Realty’s Tamika Moses and Hines’ Alan Kennedy, will be coming together to discuss the future of the area at Bisnow’s Broward County State of the Market event on April 11. Register here.

Bisnow spoke with Broman to learn more about what he is looking forward to at the upcoming event, what Moderno Development Group has in store for 2023, and why the company is dedicated to finding housing for all Broward County residents. 

Bisnow: What inspired you to speak at Bisnow’s Broward County State of the Market event?

Broman: I’m honored to speak at the Bisnow event. I feel that Broward County has a lot of growth potential that’s being underutilized. The State of the Market event is a great platform to speak about how we can maximize the area’s growth potential and help it become a thriving county in South Florida.

Bisnow: What topics will you speak about at the event?

Broman: I’ll talk about what Moderno is doing in the Tarpon River Entertainment and Design District, or TREDD, in Downtown Fort Lauderdale. Also, I want to speak about possible workforce house solutions that can create more positive diversity in Broward County. 

Bisnow: Can you describe your role at Moderno Development Group and some things you’re focused on?

Broman: I founded Moderno about nine years ago, and we’ve built a successful brand with our geographically focused investment strategies. Today, those strategies have helped create value in cities like Fort Lauderdale. We have the ability to activate neighborhoods in a way that will help future developments and projects come to fruition.

One of the projects we’re currently constructing is Rivr Lofts, a 30-story high-rise with 352 units. We’re also planning two high-rises with 800 apartments. All of these properties will be in the TREDD area. We estimate the combined market value of the properties will be around $500M, which will be a great showcase of our focused strategy.   

We’ve been working in the TREDD area for years and one of Moderno’s future plans is to create more workforce housing to enable employees who earn average wages to live in downtown Fort Lauderdale. We want to make this area a more vibrant, walkable and affordable place to live. 

Bisnow: What do you think are the most pressing challenges facing the Broward County CRE market?

Broman: On the national level, I believe the current challenges are the direction of interest rates and inflation hikes. The current high interest rates make it difficult to finance CRE deals, which results in lower valuations. However, I believe that we are nearing the end of interest rate increases by the Fed.

On the local level, a major factor to watch is the continued migration of residents and businesses into Broward County. Also, we need to improve bureaucracy and red tape at both the county and city levels to help develop much-needed affordable residential units for more communities in the local market. 

Bisnow: What are you most excited about at the event? 

Doron: One of the things that draw me to these types of events is seeing motivated and passionate people, especially when it comes to CRE in Broward County. Part of my success in real estate comes from the people I can network with and bounce ideas off of.

I get a lot out of attending these events because I learn more about CRE and the service providers behind it. If I learn just one new thing at this event, it can help me better my business and continue to stay passionate about the CRE industry as a whole. 

Bisnow: What are you most passionate about outside of work?

Broman: I’m very supportive of my daughter Sonia, who’s a fashion photographer and a proud member of the LGBT community. I follow and support her goals and causes on a daily basis. In my free time, I love watching documentaries, listening to podcasts and reading books about history. 

To hear more about Broman’s thoughts about Broward County and the CRE industry in general, join him at Bisnow’s Broward County State of the Market event on April 11.

This article was produced in collaboration between Studio B and Moderno Development Group. Bisnow news staff was not involved in the production of this content.

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to [email protected].