Miami-Dade is considering a Workforce Housing Ordinance, a decision that would send shockwaves through the development community. The proposal would mandate workforce housing in future luxury developments in order to allow teachers and hotel employees to live near their jobs. Developers building more than 20 units would have to commit 10% of their units for people who fall within the workforce-housing income range which starts at $28,800 and runs through $67,200. These rules would effect apartments, condominiums and single-family homes. Developers are compensated with 15% to 25% density population bonus depending on the amount of Workforce housing units built. Similar models have worked in Maryland and Virginia.
The Real Estate Mogul's Guide to South Florida
