A shift is underway on Wall Street—investors are acknowledging the risks of climate change. A recent credit-ratings report on the bridge system connecting Miami to Key Biscayne provides a stark example of the new way of thinking.
Miami doesn’t get as much attention as cities like New York City and San Francisco for the cost of housing, but 61 percent of renters in the city are cost-burdened, and 71 percent of the city's residents are residents.
The new linear park will use land under the city’s elevated rail tracks. Worries, however, are emerging about the effects the project will have on surrounding communities, particularly related to affordable housing.
With the threat of sea level rise, homes on higher ground in Miami are becoming increasingly desirable. But they are located in low-income communities of color, and residents are facing rising housing costs and displacement.
The city of Miami will for the first time require that affordable housing be included in private residential development projects. The mandatory inclusionary zoning was made more palatable to developers by upzoning the affected area.