“LA PEQUENA HABANA”

 

I really enjoyed speaking to Mr. Villasuso, and hearing the importance of maintaining the rich tradition of Lil Havana, and impervious evidence that Real Estate is localize, and it’s all about the residents who live in the community.  I have learned spreadsheets and Pro Forma really don’t tell the complete story of an area, one must put their boots on the ground.  Due to the zoning rules, and the lack of affordable Multifamily housing 3-4 bedrooms would be a viable option for this area. Rehabbing the existing buildings will allow the community to maintain its character while offering a since of newness.  Mr. Villasuso made it very clear it will take time to impact the mindset of the residents. Developers who are willing to invest for the long term will reap the benefits from a community with loyal renters.  Personally I think every person would love to live somewhere that’s aesthetically pleasing, affordable, and most of all safe. Developers must capitalize on the low vacancy rate while offering a viable retail component, and new infrastructure which will give residence a since of pride in their community. Carlos made an interesting point when he mentioned the lack of updated parks in the area. He really challenge me to think outside the box, parks really bring resident out of their homes which can unite a community.   Mr. Villasuso mentioned how majority of the commercial property owners do not want to engage in long term leasing, nor do they have enough money to fork out tenants improvements.  One must answer the challenging question of can business owners handle higher rents.    To resolve this issue, is to build a brand new park and a high-end Flea Market which would really put the historic value and culture on display.  The high-end Flea Market will bring cliental from the surrounding area to Lil Havana, which will bring economic viability to the area. Today I learned there is opportunity in any situation in Real Estate, however it’s up to the purchaser to realize where the opportunity exist and capitalize on it.