Building Beyond The Barriers

Day Pitney Miami Real Estate Partner Steve Wernick was recently featured in the South Florida Business Journal article, "Building Beyond The Barriers," where he discussed the impact of construction costs and market factors affecting workforce housing development in South Florida under the Live Local Act.
 
Wernick highlighted construction costs as a key challenge facing developers outside of established transportation hubs and TOD areas.  According to Wernick, "How many units a developer can build through the Live Local Act is limited by the cost of construction, not by the density allowed. The law may permit 1,000 units an acre in Miami, but the costs of high-rises and structured parking often makes that unfeasible at workforce rents."
 
Read the full article here.