Alejandro Echeverry, President, Stiles Architectural Group

May 2026 — In an interview with Invest:, Alejandro Echeverry, president of Stiles Architectural Group, discussed how shifting financing conditions, construction costs, and evolving design priorities are shaping real estate development across South Florida and the Southeast. “Instead of removing components to lower the budget, we are looking at elements that can be added to increase value and ultimately improve the rate of return for both ourselves and our clients,” Echeverry said.

How would you describe the real estate investment climate across Florida and the Southeast?

The climate in the Southeast, I think, is positive overall. As far as our geographic location within the country relative to other markets, we are in a much more favorable position.

Stiles operates across several markets throughout the Southeast, and I can tell you that our South Florida market is performing much better than some of our other markets, such as North Carolina and Tennessee. That said, those markets are also picking up, particularly in the last quarter.

Overall, we are cautiously optimistic. From a development standpoint, we are driving more toward retail and commercial-type developments while taking a more limited and cautious approach when it comes to multifamily residential.

What are clients and investors focusing on most when evaluating new development opportunities?

It always boils down to what the return on investment is. A lot of that has to do with capital and the cost of capital — things like financing, interest rates, and the general availability of funding.

We place a lot of emphasis on our pro formas, which are the documents we use to categorize and quantify our expenses and the return on those expenses. That analysis helps determine whether a project is financially viable.

At the end of the day, the main thing our clients are looking at is the bottom line and whether the project will produce the returns they expect.

How are construction costs, insurance pressures, and financing conditions affecting projects today?

Those three factors are closely intertwined, and any fluctuation in one of them can pull a project in either a positive or negative direction.

We have seen capital begin to loosen up somewhat, and interest rates are becoming a little more favorable. That is a positive development because we are starting to see projects that were put on hold begin to thaw and get back into the mix.

The cost of construction remains something we monitor very closely. As a developer that also has a construction company within our umbrella, increases in construction costs directly affect our bottom line and our profit and loss. We have seen those costs rise significantly over the past five years.

Across sectors, where are you seeing the most momentum?

We see a lot of opportunity in office development, specifically Class A office space, which is still very limited in our region.

Industrial development also continues to perform strongly. It may not be quite as strong as it was two or three years ago, but it remains a very solid sector.

Those two sectors — Class-A office and industrial — are areas we are watching closely and where we see meaningful opportunity moving forward.

How are design strategies evolving in fast-growing markets like South Florida?

In terms of design, the concept of value engineering has evolved. Traditionally, value engineering meant removing elements from a project to reduce costs. Today, owners and investors are looking more closely at value-added changes.

Instead of removing components to lower the budget, we are looking at elements that can be added to increase value and ultimately improve the rate of return for both ourselves and our clients.

That could involve the materials we use, the vendors we source them from, or other design decisions that improve the performance of the building. Sustainability and resiliency are also key considerations, particularly in South Florida.

If you look at the last five to 10 years, with issues such as flooding and king tides, those environmental realities have made developers more aware of how buildings perform in these conditions. Being located in a downtown central area that is prone to some of those effects means we have to be very mindful of those factors.

How are developers approaching sustainability and resilience when planning new projects?

Sustainability is something we need to think about from the beginning of a project because it does add both cost and time. Anything that affects the budget and schedule has to be factored in early, so sustainability is not an afterthought for us. It is baked into our philosophy and our planning process.

There are several ways to approach sustainable development. Many people are familiar with LEED certification, but there are also other organizations and frameworks that developers can consider.

For example, we have completed projects using Green Globes as well as programs through the Florida Green Building Coalition. Those can sometimes be more economical alternatives and make it easier for owners to obtain green certifications while still achieving sustainability goals.

How is technology, including artificial intelligence, changing the way projects are delivered?

At Stiles, we consider ourselves to be at the forefront of new technology. We are always exploring ways to leverage technology to increase efficiency, safety, and productivity.

Artificial intelligence is becoming a bigger part of that conversation. We have been increasing the use of AI across our divisions and exploring how it can help with both everyday tasks and long-term planning.

One of the advantages we have is our relationship with Florida Atlantic University, which has one of the largest artificial intelligence laboratories in architecture. We work closely with them to explore how AI and other technologies can improve our processes and support innovation within the company.

AI is not going to replace employees or the workforce, but it will replace the people who resist using it. We see it as a tool that can enhance how our teams work rather than something that replaces them.

How are firms addressing workforce shortages in architecture and construction?

Workforce shortages are definitely a challenge across the industry. At Stiles, we have been fortunate to build a company culture that both attracts and retains talent.

We are very proud of our retention rates. We recently had several employees celebrate more than 40 years with the company. When you walk into our office, there is a recognition wall that highlights employees who have been with the company for 20, 25, 30, and even 40 years.

That kind of longevity speaks to the culture we have built and the emphasis we place on the people who do the work and create value for the company.

We also maintain strong relationships with universities such as Florida Atlantic University and the University of Florida. We regularly attend career fairs and recruit young talent coming out of college.

In addition, organizations such as the Greater Fort Lauderdale Chamber of Commerce and the Hispanic Heritage Chamber of Commerce have served as valuable partners for connecting with talent and building our network.

What factors make markets attractive for development across the Southeast?

One of the biggest factors is constructability. Developers evaluate how building departments operate, how permitting processes work, and what kinds of fees are involved.

Anything that affects the bottom line becomes important. Jurisdictions that are easier to work with and that are more accommodating when it comes to permits and approvals tend to attract more development.

On the other hand, markets where permitting takes a long time or where the process is more restrictive can make development more challenging. Efficient permitting and supportive building departments play a significant role in making a market attractive for investment.

Looking ahead three to five years, where do you see the greatest opportunities for development?

The types of products we have focused on over the last decade have paid off for us. Those product types are retail, office, and multifamily Residential. Retail is particularly interesting because its outlook has improved. There was a time when brick-and-mortar retail had a more negative outlook, but today we see good opportunities in the Southeast.

Another area where we see opportunity is renewable energy. Stiles has launched a renewables division that focuses on the construction of battery energy storage systems and other renewable energy infrastructure.

We have made significant progress in that area over the past year, and we believe the renewable energy market will continue to be a strong opportunity moving forward.

How do you see Stiles contributing to the long-term development of the region?

Stiles has long played a role in shaping the skyline of Fort Lauderdale and the broader Tri-County region, and we expect to continue doing so well into the future.

While the company is deeply rooted in Fort Lauderdale, we remain focused on expanding our footprint throughout the Southeast, bringing that same standard of high-quality development to markets throughout Florida, the Carolinas, and Tennessee.

We want to continue influencing how cities grow, how skylines evolve, and how the urban fabric of these communities is designed. Our goal is to contribute to projects that will shape these communities for decades to come.