Gentrification and Displacement in One of Miami's Most Vulnerable Neighborhoods
Andres Viglucci reports on the wave of investment and change washing over Little Haiti, describe dint he article as "one of Miami’s poorest, yet most singular and misunderstood, communities."
"Surrounded by gentrifying neighborhoods like Wynwood, the Design District and the upscale Upper East Side, the centrally located Little Haiti has become a magnet for real estate investors, business owners and speculators looking for opportunities with a low cost of entry and a potentially big upside," according to Viglucci.
Neighborhood leaders say the rising rent and land values in the neighborhood present an existential threat to the neighborhood. Local residents are vulnerable. "Little Haiti desperately needs physical and economic regeneration," writes Viglucci, and "median household income is a meager $24,800." Instead of community driven investments, real estate speculators are buying up the modest single-family homes and duplexes in the neighborhood—limited liability companies with names like Vulture Property Investments, Strictly Profits LLC, and World Domination Enterprises.
Viglucci also notes that some locals are concerned that a recently approved plan will exacerbate the threat of displacement. The Miami Commission recently approved the Magic City Innovation District plan, "which envisions construction of a nearly 18-acre, high-rise mini-city of apartments, shops and offices in the heart of the low-rise neighborhood."
The article is part of a series that exploring the housing crisis in South Florida, as well as promising future stories that will explore solutions to South Florida’s housing crisis. The Miami Herald has also produced an interactive tool to help renters and buyers match their budgets to affordable neighborhoods.