By: Ismael Rodriguez
The Miami City Commission approved a measure on Thursday that benefits both residential developers and people in need of affordable housing.
The measure grants additional density to residential projects developed solely for workforce and affordable housing.
“We will be wasting an opportunity if we don’t move forward and make sure this housing crisis we are facing is tackled with innovative thinking,” commissioner Frank Carrollo told the press.
The commission also conceded on a separate reading that rewards developers of projects with units set aside for people whose income falls between 60 percent and 140 percent of the area’s median income set by the U.S. Department of Housing and Urban Development.
“Without this type of carrot, what you are telling young adults is that you can go to college, get a degree, get a career but don’t come live in Miami,” Albert Milo, principal and vice president of Related Urban Development Group, told the press.
Milo expects the measure to provide the necessary room for developers to build residential projects with blue-collar workers in mind. Allowing more people to afford living in Miami.
From now on, residential developers focused on affordable housing will have no limitation on the number of floors for buildings 75 feet in height to 240 feet in height, no lot area requirements and no parking space reductions starting at 35 percent.