A Dubai-based developer plans to build a 12-story luxury condominium project on the South Florida site where a building collapsed in 2021.

The regional condo market is trying to find some equilibrium as it deals with financial reforms. The number of South Florida condos sold in December continued falling, but at a slower pace than past months.

DAMAC International said Tuesday that it planned to build The Delmore on the site where the Champlain Towers South partially collapsed in Surfside in June 2021. Construction has already started and the project is expected to be finished in 2029,

There’s a new future in store for a site in South Florida that, not too long ago, saw tragedy strike. Nearly four years following the June 2021 collapse of the Champlain Towers South condominium building in Surfside — an overnight event that killed 98 people inside,