October 31, 2014

Heads Up

Tackling Affordability

Martha Brannigan | 1/1/2006
As soaring prices are putting the dream of homeownership beyond the reach of a growing segment, the Miami-Dade County Commission is considering an ordinance to begin tackling the problem. A proposal under consideration would require multiunit developers to provide some "workforce," or moderate income, housing in projects in unincorporated areas.

Workforce housing is defined as units targeted at people who make 65% to 140% of the county's median income of about $46,350.

Under the proposal, workforce housing would comprise 20% of residential units built in developments along non-transit corridors and 30% of those along transit corridors.

In some instances, developers could meet the requirement by building more "workforce" housing in another location.

Tags: Miami-Dade, Housing/Construction

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