Barry Sternlicht Says Miami Is Hamstrung by ‘Impossible’ School Access
- Property investor says ‘stamina’ is needed for city’s cycles
- Citadel has power to make Miami a financial capital, he says
Billionaire Barry Sternlicht said Miami’s growth story is far from over even as a shortage of schools in the area, a key spillover effect from its recent boom, is hindering its ability to lure more residents.
“There are a lot of companies that would move down if they could get their employees’ kids into schools, which is impossible,” Sternlicht, the chairman and chief executive officer of Starwood Capital Group, said in an interview with Bloomberg Television’s David Westin. “I don’t think Miami has peaked. I think Miami and Florida have cycles because they get overbuilt, but they’re ever-higher cycles. You just have to have stamina to stay with it.”