We heard from two developers in Little Havana in Miami with opposing views on the area. On one hand, Mauricio was an optimistic developer who explained the situation:
Miami is a high growth market and land for development is extremely scarce. Pricing pressure in all of the surrounding areas are increasingly pushing potential residents to look elsewhere for more affordable housing, without being forced to live on the outskirts of the city. This is leading developers and residents to look at Little Havana as a trove of development opportunity. New zoning laws could be too restrictive for full re-development of certain parcels, but there are government sponsored programs available to renovate a 'historic'- designated building without having to comply with the new zoning requirements, allowing some redevelopment opportunity.
The municipality would offer tax abatements to incentivize redevelopment which would allow some landowners to renovate and keep their rents low for their tenants... or the landowner could simply pocket the difference and charge higher rents.
In stark contrast, we got Jose's perspective that Little Havana is and always will be an undesirable slum.
The contrast between these two views leads to two conclusions. First, the people who desire to be 'close to the action' will need to find cheaper places to live and still be close, so there is a great need. Second, that if Little Havana is ever going to be more than a slum, it needs an engaged population and strong leadership dedicated to making it a better place. Diverting tax money toward park and infrastructure improvements could go a long way to changing the perception of safety and desirability. This is the key change that could catalyze peoples' desire to live there, and developers' desire to develop and improve the area.
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