South Florida real estate developers often decry the shortage of available land. But from Richard LeFrak’s viewpoint, the region offers plenty of options.

“Here there is lots of land. It may be expensive and it may be in the wrong place, but there’s plenty of land,” LeFrak said Wednesday during a keynote conversation at the Miami fall symposium of the Urban Land Institute. Miami World Center developer Nitin Motwani conducted the interview.

LeFrak came to the South Florida market from New York City, where almost every inch of land has previously been developed. His largest local project — Sole Mia, a 180-acre project in North Miami on a former landfill — is proof.

LeFrak became familiar with Miami as a business center after the government took control of then-struggling BankUnited; LeFrak became an investor. He also partnered in the purchase of the real estate portfolio held by the failed Corus Bank following the housing bust, which brought familiarity with the local real estate market. He later partnered with Barry Sternlicht, chairman of Starwood Capital Group, to create the One Hotel on Miami Beach.

Land availability and South Florida’s ongoing population growth — drawing about 500,000 new residents per year — will continue to fuel interest from real estate investors and developers, he said.

“You follow the population. You don’t create it. So, yes, I do see more investors coming here,” said LeFrak.

Quoting his father, who ran the family company before LeFrak, he said “If you give them what they want at a price they can afford to pay, you’ll do business.”

Today, that may mean smaller units and co-living. “The younger generation wants mobility. It’s something they demand. Co-living caters to [mobility],” said LeFrak. “You’ve got to cater to that. Then, you’ll be successful.”

“To be successful in Miami, you have to love the atmosphere and be a builder,” said LeFrak, paraphrasing from a promotional video shown prior to the event. “I love the atmosphere and I am a builder,” said LeFrak. “Turning a landfill into a paradise takes a vision to see something years down the road.”

Despite its attractions, South Florida still needs to focus on its schools. “At one point in the cycle, we were approached by a bank with 5,000 employees that was considering moving to Miami. Everybody under 30 wanted to come to Miami. Everyone over 55 wanted to come to Miami. But people with school age kids did not want to move because of the schools.”