Amendments loosen floor area ratio restrictions for projects with affordable rentals Florida lawmakers approved changes to the Live Local Act that are expected to benefit developers planning affordable housing projects. The state House on Wednesday passed a slew of tweaks with a 112-1 vote, three weeks after the Senate first approved the changes. The legislation won’t […]
Among the proposed amendments are tax abatements for landlords and parking breaks for projects near train stations. Tax abatements for landlords and parking breaks for projects near train stations are among the provisions of an amended Live Local Act bill headed to the Florida Senate for a vote. The SB 328 bill was proposed by […]
Developers love the affordable housing law — the first of its kind in the nation — for the same reasons that local officials are starting to loathe it. Even its critics think Florida’s Live Local Act is working. In fact, they think it’s working too well. Local politicians are concerned that the new state law […]
Florida’s new law promotes affordable housing. Local leaders hate it. South Florida’s got an affordable housing shortage. And why wouldn’t it? An unprecedented migration of wealth and business has flowed into the state, sending demand for homes and rentals soaring — as well as prices. Developers are exuberant, building ever more lavish and pricey units […]
While U.S. Supreme Court justices may very well overturn a lower court ruling in a Texas takings dispute, a decision in favor of the state could open the floodgates for states across the country to avoid making payments in alleged takings disputes, experts say. Justices earlier this week heard oral arguments in Devillier v. Texas, […]
‘We’re still seeing a lot of demand to be close to a Brightline station.’ South Florida’s intercity passenger train service was barely two years old when the COVID-19 pandemic suspended operations for 20 months. That pause in Brightline service hasn’t derailed developers determined to build projects near train stations. “We’ve sold several sites that are […]
The Live Local Act has been hailed by some developers and economists as a means of encouraging the development of more affordable housing. A Miami-Dade state senator has proposed a series of amendments, some of which will limit or restrict developers’ ability to utilize the zoning benefits of the Live Local Act. State Senator Alexis […]
Flo will have 116 units with 23 designated to workforce housing A new multi-family development is in the works in Delray Beach that will provide workforce housing units. It’s called the Flo and will have a total of 116 units with 23 designated to workforce housing. DELRAY BEACH, Fla. — A new multi-family development is […]
Law360 (December 21, 2023, 5:58 PM EST) — As the year closes, Law360 Real Estate Authority checked in with attorneys, developers, brokers and other professionals for their views on what 2023 meant for the South Florida market and what they are anticipating for 2024. The region was not spared economic headwinds that swept the nation, […]
Declines in mobility and existing home sales leading to more normalized metrics. Softening demand that is mirroring migration and home sales trends has led to continued negative rent growth for the self storage sector, according to Yardi Matrix’s National Self Storage Report for October 2023. Street rates fell month-over-month in September and year-over-year. That Minneapolis […]
