Miami has a seen an influx of new residents and a healthy amount of development in its central business district. But is it the type of development residents want?
A new study by Commercial Café shows that Miami has 12 acres of undeveloped land in its central business district, the 16th-most centrally located available land in the country. Miami also has seen the ninth-highest development in the central business district since 2013, with just over 2 million square feet developed since that time.
Central business districts are usually the land of massive commercial high rises, but Commercial Café’s study says residents of Miami and other major cities would like to see those area filled with housing.
Of those surveyed by Commercial Café, 48 percent said their city’s business district needs more housing, followed by homeless shelters and parks. When asked what their want their city to have (versus what it needs to have), housing is still the overwhelming favorite with 43 percent of the vote.
More locally, Miami residents told Commercial Café that they want the downtown area to have more improved bus transport, better walkability and more bike lanes.
The study shows that, not only is the shortage of new, affordable housing on the minds of real estate professionals, it is also on the forefront of consumers’ minds as well.
To read the entire study, check here.