New data revealed in the Connect Capital Miami Report shows the city needing at least 50,000 housing units just to meet the existing need, according to The Miami Herald. The report also says that 71% of Miami households are currently renting and 61% of those are paying more than 30% of their income in rent. Recommendations cited in the report could create or preserve 12,000 affordable housing units by 2024. “This plan wouldn’t solve the entire problem, but it would take a sizable bite out of it,” said Annie Lord, executive director of Miami Homes For All. “We’re seeing a lot of support from city administrators, so it’s about harnessing their excitement and interest into solutions.”
The report identifies six potential development pathways for generating affordable housing units. Among them are the Rental Assistance Demonstration Project, a federal program that allows local governments to redevelop obsolete public housing by replacing every existing unit and increasing the number of affordable units while also adding market-rate units.
Another pathway for development is the preservation of naturally occurring affordable housing (NOAH) — older, distressed rental properties that are privately owned and not subsidized. These are the properties that are sold and demolished when a neighborhood goes through gentrification. For example, the percentage of NOAH units in Wynwood plummeted from 96 percent to 58 percent between the years 2000-2015, according to a recent study by the Urban Institute.
The report lays out specific development criteria for new affordable housing buildings, such as resiliency and environmental sustainability, and on-site supportive services such as child care and behavioral health care.
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