Miami faces an unprecedented affordable housing shortage of more than 90,000 units
MiamiMiami-Dade County
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In this case, you mean the Federal Reserve that's controlling the printing of fiat currency, not necessarily the executive, legislative and judiciary branches of the Federal Gov't. The President can appoint a Federal Reserve Secretary, but the Fed is completely independent of the Government, in that it sets the interest rates throughout the country, and not the Gov't!!!
You are over thinking this. I'm referring to the local govt that create an ambigous zoning codes and then enforce it with subjectivity. Because you don't have certaintiy of what you can build on the the largest developers with access to tons of capital can develop.
Most ot he land is zoned 150 units per acre with varying height limits. This is extemely arbitrary. Does it really make a difference if they build a 12 story or 18 story or a 24 story? Of course note Often these existing scenarios aren't profitable. The successful developers are able to buy land at huge upfront cost and then hold that land for several years while they zoning variances to something more profitable. They can then either build the more profitable project or sell the land with the new approvals for more money. This process takes millions of dollares in finance and design fees so again to pushes out smaller developers.
Under this model developers are know they are maxed out to what they can build, so each individual develoer in each individual deal has to sell for the most amount of rent/sales price to maximixe their return.
Now imagine instead govt was only concerened about core issues life safety, accessibility etc. In this case developers would be free to build whatever they want. So now instead of saying I can only build 200 units on this lot let me see the maximum amount of profit I can make off of those 200 units, the developer would be saying I can build as many units as I want, how many can the market absorb. If I can make $100k per unit on 200 units, is it worth it to make $75k on 300 units or $50k on 500 units.
This is what the Live Local Act is trying to do slightly. Local politicians don't really care about all the citizens they only care about the citizens that vote for them. If the people in a neighborhood want less housing at the detriment of the whole city then the local commisioner is going to be on their side. The state govt doesn't really care as much as the people in that neighborhood are not directly tied to them. So they are trying to give a blanket increase in zoning for developer who develop more "affordable" housing. But its trying to fight regulation with regulation. If the govt simply got out of the way then developers would actually be in competition with each other and the free market would do what it always does.
Quote:
Originally Posted by wanderer34
As for these zoning meetings, exactly where are these zoning meetings taking place??? I can understand places like Orlando and Tampa being adverse to high density projects outside of downtown, but in Miami, since the metro area is wedged between the Atlantic Ocean and the Everglades, since you can't redevelop land on the Everglades due to the Everglades being federally protected land and you definitely cannot build anything on water, you have no choice but to build higher, more dense residential units, whether they be market rate condos and townhouses, or affordable cooperatives, high rises, and homes.
It varies my municipality. Wheterh you building in city of Miami, Miami beach, North Beach, Coral Gables. etc. They all hold their meetings on different dates. Go to their indiviudual websites to learn more. But this highlights the further issue. The people in North Miami have different people and a different set of rules than the people in the City of Miami or Unicorporated Dade or Bayside, etc. You can see that if you have entirely different rules in all of these areas and in each of these municipalities they all have the discrection to approve things they want then you can see the system is completely ineffective.
You literally have the entire process of who builds what where subject to random govt employees making $50k a year who know nothing about the broader scope and aren't tied to the sucesss of the city at large.
You are over thinking this. I'm referring to the local govt that create an ambigous zoning codes and then enforce it with subjectivity. Because you don't have certaintiy of what you can build on the the largest developers with access to tons of capital can develop.
Most ot he land is zoned 150 units per acre with varying height limits. This is extemely arbitrary. Does it really make a difference if they build a 12 story or 18 story or a 24 story? Of course note Often these existing scenarios aren't profitable. The successful developers are able to buy land at huge upfront cost and then hold that land for several years while they zoning variances to something more profitable. They can then either build the more profitable project or sell the land with the new approvals for more money. This process takes millions of dollares in finance and design fees so again to pushes out smaller developers.
Under this model developers are know they are maxed out to what they can build, so each individual develoer in each individual deal has to sell for the most amount of rent/sales price to maximixe their return.
Now imagine instead govt was only concerened about core issues life safety, accessibility etc. In this case developers would be free to build whatever they want. So now instead of saying I can only build 200 units on this lot let me see the maximum amount of profit I can make off of those 200 units, the developer would be saying I can build as many units as I want, how many can the market absorb. If I can make $100k per unit on 200 units, is it worth it to make $75k on 300 units or $50k on 500 units.
This is what the Live Local Act is trying to do slightly. Local politicians don't really care about all the citizens they only care about the citizens that vote for them. If the people in a neighborhood want less housing at the detriment of the whole city then the local commisioner is going to be on their side. The state govt doesn't really care as much as the people in that neighborhood are not directly tied to them. So they are trying to give a blanket increase in zoning for developer who develop more "affordable" housing. But its trying to fight regulation with regulation. If the govt simply got out of the way then developers would actually be in competition with each other and the free market would do what it always does.
This quote makes more sense to me. Every developer wants to make a profit, just like any sane businessman, but when that same market makes about $31,471 annually per capita & $47,860 annually per household, which is just below the county average of $32,513 annually per capita & $57,815 annually per household, and both city and county averages are both below FL's average of $34,367 annually per capita & $61,777 annually per household, since the average real estate value today is $660K, and considering that most people who live in Miami-Dade have 30-year mortgages, if it's just the city per capita rate, and it's just one person, then that person, after paying either rent or mortgage just may be SOL since he or she may not have enough just to save or to pay other bills, but if somebody else were to make at least $50K+ annually as a single person, then it would make a lot of sense just to buy a house or maybe a coop in Miami. It would be better if there were married couples who both work and can pay the mortgage, as well as the bills.
Back in 2000, a house anywhere in Miami-Dade would've been $115K. I remember when I wanted to get a house, there were decent properties in the city of Miami that were selling for five figures back at around 2004. Now, I'm pretty sure all you can get for five figures is some leftover land. Yes, inflation is also a major factor, but the fact that Miami-Dade was about $115K back in 2000 to averaging $660K in the city of Miami alone is a huge, astronomical boost, considering that the average Miami makes only about $31K. The days of buying a house for the typical Miamian appear to be over unless "he has connections".
The late 60's to much of the 2000's was basically the "old Miami", the harbinger of deteriorating racial relations between white Cubans and Black Americans, while the beginning of the 2020's seems to be the beginning of "new Miami". If the new Miami can build as much skyscrapers along Edgewater, Midtown, Omni, Downtown, Brickell, and along half of the Port of Miami while preserving ethnic neighborhoods like Little Havana, Little Haiti, and Liberty City, more power to the new Miami. I personally don't see why a newcomer to Miami would strive to go as far as Liberty City or West Little River (other than flooding issues), when Upper East Side, Edgewater, and Coconut Grove are much more palatable neighborhoods.
If not, and the citizens and the powers that be cannot adapt to the 21st century of providing multifamily dwellings throughout the city, then of course, you'll see more homelessness, more economic disparity, much more poverty, and eventually more property and violent crime while the city and county remains either stagnant or declines just because a select few didn't want multifamily housing in their communities or neighborhoods. The days of having a single family home in much of East Little Havana east of 12th Ave, the Roads, South Brickell, and portions of Overtown appear to be over!!!
Quote:
Originally Posted by gixxer1000
It varies my municipality. Wheterh you building in city of Miami, Miami beach, North Beach, Coral Gables. etc. They all hold their meetings on different dates. Go to their indiviudual websites to learn more. But this highlights the further issue. The people in North Miami have different people and a different set of rules than the people in the City of Miami or Unicorporated Dade or Bayside, etc. You can see that if you have entirely different rules in all of these areas and in each of these municipalities they all have the discrection to approve things they want then you can see the system is completely ineffective.
You literally have the entire process of who builds what where subject to random govt employees making $50k a year who know nothing about the broader scope and aren't tied to the sucesss of the city at large.
North Miami isn't much of a city with only about 6,000 ppsm, compared to Miami, with a density of about double (12,665 ppsm) than what North Miami can hold, and growing due to hi-tech companies moving their LatAm operations to Miami. I don't even see a 500-footer in North Miami ever being erected because it's not a necessity for that city. I can see Aventura getting some 500-footers and even Miami Beach getting some residential supertalls a la Dubai in the near future when space becomes a huge issue in Miami-Dade, but eventually, each municipality in Miami-Dade cannot all look like Miami!
Miami is the anchor and core city that should be able to have the commercial and residential supertalls, while a city like Miami Beach cannot afford to just be a barrier island mostly packed with single family homes built in the 1920's to the 1950's. If SF saved all their architecture from the 1900's onward, then SF, while it would be known as beautiful, would've never grown as the banking, commercial, and financial center of the West that's it's known today. The same can be said for NYC. If NYC never adopted the modern skyscrapers that were erected during the 20th century, it would've never been the economic, financial, and media capital that it currently is worldwide!
I believe the elephant in the room isn't so much Miami, as Miami should always be the biggest city in Miami-Dade (and FL, for that matter, ditto Jacksonville and it's claim to being the "biggest in FL") but actually Miami Beach's antiquated zoning, and maybe a few more seaside municipalities like Aventura, North Bay Village, Key Biscayne, Surfside, and Bal Harbour. I believe that there should be historical districts, but those historical districts within Miami Beach shouldn't stunt Miami Beach's population growth. If anything, Miami Beach today should look like what Sunny Isles Beach looks like at the present: an island city full of very tall and supertall towers from South Beach all the way to North Beach!!!
There are two Dadeland stations (Dadeland North and Dadeland South), which both serve the immediate area known as Dadeland, named for Dadeland Mall, and Dadeland Mall isn't even in Glenvar Heights, but it's address is based in Kendall (which should be it's own independent city, BTW). I'm not sure whether you're trying to troll or whatever, but your attempt at trying to sound intelligent is very futile, to say the least. I didn't even mention Dadeland North or South Stations when referring to Dadeland, just the mall and the CDP, so it was a very futile comeback on your part!
Plus, Wikipedia isn't a concrete reference source, BTW, but a quick reference site. There's a reason why Wikipedia has to get edited almost every day, and it's not just because of time, it's because of unreliable sources that get entered and cited as "credible" sources on the site.
LOL. You don’t know how to use sources cited links.
No, Kendall “should†not be its own city, as it doesn’t have an operational government. Do you know how cities operate? Dadeland will likely annex into Miami before anything else happens there, or it will become its own entity, which it practically already is.
I work directly in the architecture and engineering industry, and know a thing or two about zoning, planning, proposals and permitting. Oh, and unlike you, I live here.
LOL. You don’t know how to use sources cited links.
No, Kendall “should†not be its own city, as it doesn’t have an operational government. Do you know how cities operate? Dadeland will likely annex into Miami before anything else happens there, or it will become its own entity, which it practically already is.
I work directly in the architecture and engineering industry, and know a thing or two about zoning, planning, proposals and permitting. Oh, and unlike you, I live here.
I just showed you links regarding developments within the Dadeland and Kendall areas that are high-rises outside out Miami. In order for Miami to annex Dadeland and parts of Kendall, it would also have to annex a good portion of Coral Gables, South Miami, and portions of Pinecrest, as well, which won't happen, especially annexing Coral Gables, as the residents don't want to become a part of Miami in any shape, form, and fashion due to the school districts, taxes, planning and zoning. If I were a resident of Coral Gables, I'd do everything in my power not to become or look like another Miami, even though the two cities are inextricably linked and share a border.
Kendall, while not an independent city, technically, has over 80K people, and it's land area is 16.1 sq. mi., which is the biggest CDP in Miami-Dade , one of the biggest communities in Miami-Dade, and big enough to be considered an "edge city", as well as being a viable candidate for incorporation for cityhood. You claim to work in the architecture and engineering industry, and I hold no bones over you for that, but it seems like you don't even know your own geography in Miami-Dade, and if you knew Miami-Dade like you'd claimed, you'd know that Miami and Kendall/Dadeland are separated by the independent cities of Coral Gables and South Miami and it would be next to impossible to annex Kendall to Miami unless Kendall somehow wanted to use Miami's resources which may give Kendall to Miami, but other than that, physically and officially, the two areas remain separate for a reason. A shame that a Yankee born and bred in Brooklyn has to show you your own geography and communities (https://en.wikipedia.org/wiki/List_o...ounty,_Florida).
I just showed you links regarding developments within the Dadeland and Kendall areas that are high-rises outside out Miami. In order for Miami to annex Dadeland and parts of Kendall, it would also have to annex a good portion of Coral Gables, South Miami, and portions of Pinecrest, as well, which won't happen, especially annexing Coral Gables, as the residents don't want to become a part of Miami in any shape, form, and fashion due to the school districts, taxes, planning and zoning. If I were a resident of Coral Gables, I'd do everything in my power not to become or look like another Miami, even though the two cities are inextricably linked and share a border.
Kendall, while not an independent city, technically, has over 80K people, and it's land area is 16.1 sq. mi., which is the biggest CDP in Miami-Dade , one of the biggest communities in Miami-Dade, and big enough to be considered an "edge city", as well as being a viable candidate for incorporation for cityhood. You claim to work in the architecture and engineering industry, and I hold no bones over you for that, but it seems like you don't even know your own geography in Miami-Dade, and if you knew Miami-Dade like you'd claimed, you'd know that Miami and Kendall/Dadeland are separated by the independent cities of Coral Gables and South Miami and it would be next to impossible to annex Kendall to Miami unless Kendall somehow wanted to use Miami's resources which may give Kendall to Miami, but other than that, physically and officially, the two areas remain separate for a reason. A shame that a Yankee born and bred in Brooklyn has to show you your own geography and communities (https://en.wikipedia.org/wiki/List_o...ounty,_Florida).
â€According to the nonprofit organization’s findings, the county is grappling with a shortfall of 90,181 units tailored for households earning less than 80% of the area median income, which equates to approximately $75,000 annually.â€
first off, there's plenty of 2 bedroom/1 bath apartments for rent at $2000 a month....or less...empty ready to rent and no one in them
$2000 a month = $24,000 a year
$75,000 - $24,000 = $51,000 a year after paying rent....that's $1000 a week
"median income" - math twist here. So if 1 guy makes 2.5 million and 50 people make $25000 then that's 3.750/51 = $73,529. So the math looks strong except for the 50 people that make $25,000!
You also didn't deduct any taxes from those $75,000 jobs.
Local billion dollar company moved to town, said "average" job paid $80,000 until someone looked at the math. CEO made 6mm and that totally skewed the "average" job.
Government can't get into the housing business, its bad math for them. The workers area always going to be poor if they are working minimum wage jobs (even if that is $20 an hour now). What hurts people is the non-sense spending previous generations didn't have: satellite TV/radio subscriptions/ expensive cell phones/plans/ Starbucks/door dash/gym memberships/amazon.......My dad never paid for cable TV nevermind all the above stuff. Easier to save money when things aren't nickel and diming you to death!
"median income" - math twist here. So if 1 guy makes 2.5 million and 50 people make $25000 then that's 3.750/51 = $73,529. So the math looks strong except for the 50 people that make $25,000!
You also didn't deduct any taxes from those $75,000 jobs.
Local billion dollar company moved to town, said "average" job paid $80,000 until someone looked at the math. CEO made 6mm and that totally skewed the "average" job.
Government can't get into the housing business, its bad math for them. The workers area always going to be poor if they are working minimum wage jobs (even if that is $20 an hour now). What hurts people is the non-sense spending previous generations didn't have: satellite TV/radio subscriptions/ expensive cell phones/plans/ Starbucks/door dash/gym memberships/amazon.......My dad never paid for cable TV nevermind all the above stuff. Easier to save money when things aren't nickel and diming you to death!
I get your point, and agree with it. But... Is there any CEO out there with a base salary of 6mm?
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