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Whereas some scientific fashions predict sufficient polar ice soften to convey no less than 10 ft of sea stage rise to South Florida by 2100, only a modest 12 inches would make 15% of Miami uninhabitable, and far of that beachside property is amongst America’s most beneficial.

Even now, as extra frequent “king tides” bubble up via Florida’s porous limestone, pushing fish via sewers and onto streets, residents are changing into extra conscious that their metropolis is constructed on the rippling cabinets, ridges and canyons of a fossil seabed.

“Water is just going again to the identical locations it flowed ages in the past,” says Sam Purkis, Chair of the College of Miami’s Geosciences Division. “The irony is what occurred 125,000 years in the past goes to dictate what occurs to your own home now.”

The fickle undulations between metropolis blocks might imply the distinction between survival and retreat, and the rising price of altitude is sparking a noticeable shift in neighborhood activism and municipal budgets.

Miami Seaside is spending hundreds of thousands elevating roads, upgrading pumps and altering constructing codes to permit residents to lift their mansions by 5 ft. However in working-class, immigrant neighborhoods like Little Haiti, year-to-year sea stage rise will get misplaced within the day-to-day wrestle, and most had no concept that they dwell a lofty three ft increased than the rich of us on Miami Seaside.

They came upon when builders began calling, from all over the place.

“They have been calling from China, from Venezuela. Coming right here with circumstances of cash!” says Marleine Bastien, a neighborhood organizer and longtime resident. “We used to assume that the attract of Little Haiti was the truth that it is near downtown, near each airports and near the seashore. Unbeknownst to us, it is as a result of we are positioned at the next altitude.”

Mentioning a row of vacant outlets, she ticks off the names of a dozen small enterprise homeowners she says have been compelled out by rising rents, and lists others who she says unwittingly took lowball presents with no understanding of Miami’s housing disaster.

“In case you promote your private home in Little Haiti, you assume that you simply’re making a giant deal, and it is solely after you promote, and then you definately understand, ‘Oh, I can’t purchase anyplace else.’”

After her neighborhood middle and day faculty have been priced out of three totally different buildings, she caught wind of plans to construct the sprawling $1 billion Magic Metropolis growth on the sting of Little Haiti, that includes a promenade, high-end retail shops, high rise residences and imagined by a consortium of native buyers, together with the founding father of Cirque du Soleil.

Magic Metropolis builders insist that they picked the location based mostly on location, not elevation. They promised to protect the soul of Little Haiti and provides $31 million to the neighborhood for inexpensive housing and different applications, but it surely wasn’t sufficient for Bastien.

“This can be a plan to really erase Little Haiti,” Bastien says. “As a result of that is the one place the place immigration and local weather gentrification collide.”

She fought the event with all of the protesters and hand-lettered indicators she might muster, however after a debate that went till 1 a.m., commissioners authorised the allow with a Three-Zero vote on the finish of June.

“The world we took was all industrial,” says Max Sklar, VP with Plaza Fairness Companions and a member of the event staff. “There was no actual thriving financial system round these warehouses or vacant land. And so our objective is to create that financial system. Can we appease all people? Not 100%, that is not possible. It is not sensible. However we have listened to them.”

He repeats a promise to ship $6 million to a Little Haiti neighborhood belief earlier than ground is even damaged and, as an indication that he listened to no less than one demand, acknowledges that the advanced will now be known as Magic Metropolis Little Haiti.

However whereas Bastien mourns the defeat, her neighbor and fellow organizer Leonie Hermantin welcomes the funding and hopes for the perfect.

“Even when Magic Metropolis didn’t come immediately, the tempo of gentrification is so speedy that our folks won’t be able to afford houses right here anyhow,” Bastien says with a resigned head shake. “Magic Metropolis is just not the federal government. Reasonably priced housing insurance policies have to return from the federal government.”

“Local weather gentrification is one thing that we are very intently monitoring,” Miami Mayor Francis Suarez tells me. “However we have not seen any direct proof of it but.”

Suarez is the uncommon Republican who passionately argues for local weather mitigation plans and helped champion the $400 million Miami Perpetually bond, authorised by voters to fund motion to guard the town from the ravages of upper seas and stronger storms.

“We really created in our first tranche of Miami Perpetually, a sustainability fund for folks to renovate their houses in order that they’ll keep of their properties somewhat than having to promote their properties,” Suarez says.

However that fund is a comparatively small $15 million, not sufficient to dent a housing disaster that grows with every warmth wave and hurricane, in a metropolis the place over 1 / 4 of residents dwell under the poverty stage.

What’s taking place in Little Haiti might be only one instance of a “local weather apartheid” that the United Nations warns is forward, the place there can be a gulf between the wealthy who can shield themselves from the influence of local weather change and the poor who are left behind.

Philip Alston, the UN Particular Rapporteur on excessive poverty and human rights, mentioned there was already proof of how the local weather disaster impacts the wealthy and poor in a different way. And he identified that these harm most have been seemingly these least accountable.

“Perversely, whereas folks in poverty are accountable for only a fraction of world emissions, they’ll bear the brunt of local weather change, and have the least capability to guard themselves,” Alston wrote final month.

 

Source: Nosy Media

As several hundred business leaders gathered for the Greater Miami Chamber of Commerce’s Goals Conference, the typical celebratory mood was tempered in the aftermath of the mass killings in Orlando.

But the resolve to dig in and tackle some of the region’s most critical issues seemed to have strengthened. For this conference, it was more about looking ahead than looking back, and accelerating an innovation economy, bridging the economic divide, solving the traffic nightmares and confronting sea level rise with a smart strategy were all issues on the table, as well as the talk of the hallways and lounges at the chamber’s annual two-day planning retreat. Cuba and cyber-security were also discussed as the event opened last Thursday at the Hilton Miami Downtown.

FIU President Mark Rosenberg assumed the chairmanship of the Greater Miami Chamber of Commerce on Thursday. Florida International University

FIU President Mark Rosenberg assumed the chairmanship of the Greater Miami Chamber of Commerce on Thursday. Florida International University

A sense of urgency was highlighted in remarks by incoming Chamber Chairman Mark Rosenberg, Florida International University’s president, and a new economic report by the FIU-Miami-Creative Initiative.

“Miami has a window of opportunity to capitalize on its economic strengths,” said Richard Florida, director of the Martin Prosperity Institute at the University of Toronto and Visiting Fellow of the FIU-Miami Creative City Initiative. “We can’t be left behind … let’s get it done,” Rosenberg said.

Much of the talk was about the need for region-wide cooperation and solutions involving businesses, chambers, governments and economic development organizations across South Florida. Indeed, in a surprising sign of regional cooperation, the GMCC and Fort Lauderdale Chamber announced in April they are exploring a merger. “It would be a one plus one equals three,” said outgoing Chamber Chairman Christine Barney.

On accelerating the startup community, Florida said the Miami region starts from a good place, with a culturally rich, urban, diverse lifestyle and environment that help facilitate “collisions” – spontaneous meetings of the minds – that accelerate innovation. Another asset: A creative class of tech, arts, media, academia and other professionals that is more than 700,000 people strong. It’s also No. 2 in the nation in an index that ranks areas based on tolerance and openness, Florida said. But recent reports have highlighted that Miami’s startups aren’t scaling up. [Read the new Creative Class Group-FIU study here.]

“What we really need to do is go from quantity to quality,” he said.

Panelists — Xavier Gonzalez of eMerge Americas, Rebekah Monson of The New Tropic and Melissa Krinzman of Krillion Ventures, had several suggestions, all involving the chamber, with 4,100 members employing more than 400,000. Noting that the startup community was ill-represented in the ballroom, find more ways to connect the two groups, said Gonzalez. The Chamber’s members can be the ultimate user group for startups needing to test their concepts in the business community, said Krinzman.

“The established business community can really help the startup community level up,” said Monson.

Startups thrive on wrapping their heads around big problems, Monson said, and there was a monstrous one discussed in the afternoon panel: Sea level rise. In fact, some of the panelists there said they need the startup and millennial communities to get involved.

Susanne Torriente, Chief Resiliency Officer of the city of Miami Beach, said the fact that Miami was chosen as one of the Rockerfeller Foundation’s 100 Resilient Cities presents an opportunity for Miami to take the lead in this, and urged government and business groups to come together rather than everyone working in silos.

“This is an incredible opportunity for creating one strategy for the whole region,” said Torriente.

Other ideas offered by the panelists, who included Steven Davis of the Everglades Foundation, developer Andrew Frey, Buck Martinez of FPL and Tiffany Troxler, a research scientist at FIU: Build a set of best practices for businesses, with a priority agenda that can be an action plan; increase awareness through exhibits, conferences, messaging and think tanks; and increase the density allowed on appropriate transit-friendly urban areas in order to take pressure off the suburbs and the Everglades.

The conference continues Friday with a session of mayors, another one addressing transportation and a closing luncheon with the theme “Pivot to Asia.” [See the Chamber’s goals around these issues here]

“We have the power to make an impact,” said attorney Marlon Hill, addressing the luncheon crowd after receiving a leadership award along with nine other business leaders. “Just go out there and get it done.”

Honoring Miami’s Leaders

A number of business leaders received awards at the Greater Miami Chamber of Commerce Goals Conference, including:

Adrienne Arsht, M. Athalie Range Miami Pioneer for Progress Award
The Honorable Steve Leifman, Henry M. Flagler Community Award
Dwight Hill, Banking/Finance Award
Nelly Rubio, Entrepreneurial/Professional Award
Jeannett Slesnick, Government Award
Daniel “Dan” Jacobson, Legal/Law Award
Jose Cela, Nonprofit/Cultural Award
Marlon A. Hill, Bill Colson Award
Dr. Michael Alessandri, Visionary Leader of the Year
Alexandra (Alex) Villoch, Power Leader of the Year

 

Source: Miami Herald

Several green building trends emerged over the past 12 months that will impact commercial real estate in the United States in 2015, according to Doug Lawrence, founder and managing principal of 5 Stone Green Capital—Bainbridge, an institutional real estate company.

Lawrence serves on the investment and natural resources committees of the University of Connecticut Foundation and the advisory board of Rutgers Business School.

Here’s what he foresees for emerging trends in green real estate in the year ahead.

1. Aging baby boomers and Gen X, Y and Z will continue to move to cities, requiring more affordable housing—and expecting it to be green.

CREPredictionNo1U.S. cities are growing faster than the suburbs. Baby boomers will need urban housing that supports their health and community needs, but so will the younger generations flocking to live in urban environments. As a policy matter, this means cities will be pressured to create housing that serves a wider range of income and age demographics. Affordable housing is likely to be the target of municipal agendas throughout the country.

Green multifamily really wins within this demand picture. The ability to reduce overall operating expenses through green technology, therefore also reducing occupancy costs for tenants, should improve residential affordability. Green multifamily properties featuring optimal health designs will become increasingly attractive. These would include better air filtration systems to reduce dust, pollen and airborne pathogens that may trigger asthma; more daylighting to improve natural vitamin D production; and antibacterial countertops and doorknobs.

Expect multifamily vacancy rates to continue to fall for affordable and seniors housing sub-sectors. Absorption rates will remain solid for new multifamily construction. The 18-to-34-year-olds seem psychologically predisposed to green housing and, thanks to tight lending standards and high student loan debt, this group will not be seeking single-family homes in the near future. Thus, multifamily demand looks pretty good for 2015, and green multifamily will be the likely winner with the younger generations.

2. The anti-climate-change voices will yell even louder.

CREPredictionNo2Some naysayers will stop arguing that there is no increase in carbon dioxide (CO2) in our atmosphere. Instead, they will argue that increasing CO2 is good for the global economy because CO2 is necessary to increase agriculture. Under this theory, more CO2 in the atmosphere would mean a golden age for crop production. Green real estate investors will continue to reduce their carbon footprint under the belief that doing so increases profitability and is good for the environment as well.

3. Renewable technology, particularly solar, will continue to fall in price and improve in efficiency.

CREPredictionNo3Solar panels that can convert up to 70 percent of the sun’s light spectrum into electricity (from gamma rays to X-rays) are already in beta testing. This could be a game-changer for real estate owners, especially in the multifamily and industrial sectors, as well as for those with properties in dense urban environments in high-cost electricity states.

The cost of solar energy could fall below that of fossil fuel-generated electricity per kilowatt hour, even with the drop in oil and/or gas prices. As technology improves, real estate managers will explore new ways to provide energy to tenants and users at more efficient prices.

4. Urban resiliency and climate change will become topics for deeper discussion among policy-makers.

CREPredictionNo4Following rising average sea levels in a wide range of American cities—from Los Angeles to Galveston, Texas to New York and Boston—and more frequent and more damaging storms, cities are becoming very focused on hardening essential infrastructure.

The real estate industry may see new building codes that emphasize sustainability, as well as resiliency.

5. Utilities companies and smart developers will form partnerships for distributed generation.

CREPredictionNo5It’s getting harder and harder to build new power plants, yet we have more people for whom to provide electricity; meanwhile, business demand for electricity is increasing as the economy strengthens. U.S. power plants are not only aged, but also use incredibly large amounts of fresh water for cooling. Moreover, some experts predict that as much as 10 percent of coal-fired electricity-generating plants in the United States may be shut down over the next few years. More demand, coupled with fewer production resources, may spur real estate owners and power companies into an alliance.

The concept of distributed generation, wherein solar-powered rooftops are used to create renewable energy that feeds the grid, will become more attractive. In this way, the utility company will gain a production source to feed growing demand without having to go through nightmarish public hearings to obtain the production increase. Meanwhile, the real estate owner may see a new revenue stream, or at least a reduction in energy consumption. All in all, partnerships between developers and utility companies may reduce overall operating expenses for garages, public areas, elevators and other electrical hot points.

6. The sharing economy will continue to grow.

CREPredictionNo6Sharing economy enterprises are thriving, particularly in urban markets. Think office sharing, or even Airbnb.com. These phenomena are no longer fads, and they are changing how we think about office space, hoteling and more.

Many experts assume that the more we share, the less stress we will have on the environment, but it may still be too early to tell whether that’s true.

7. Food production will become more urban and commercial buildings’ rooftops will increase in value.

CREPredictionNo7It’s becoming less profitable to truck a tomato from California to New York and, due to the increasing demand for locally-grown produce, the term “farm-to-table” has become embedded in our vocabulary. The demand for food that is grown without pesticides, fungicides or other chemicals is increasing. We already see grocers like Whole Foods establishing hydroponic farms on their rooftops. Such production reduces transportation costs and improves produce freshness and variety. Other grocers, including Safeway, have gone green by deploying solar arrays and other renewable energy technologies on their stores’ rooftops in order to reduce peak-demand electricity charges. Large rooftops will therefore continue to find new value as non-traditional tenants begin to use them in new ways.

8. Mortgage finance and insurance organizations will consider green standards.

CREPredictionNo8As the government-sponsored entities Freddie Mac and Fannie Mae continue reviewing and improving their standards for green buildings, other mainstream lenders and insurance companies will catch up with the trend. Insurance companies will see green buildings as a way to reduce risk. Lenders will potentially see lower volatility in net operating cash flows. As the capital markets go green, so will more building owners and investors.

The Dow Jones Sustainability Index is proving that green business outperforms the non-green Dow Jones Industrials Index. Green building will mimic that outperformance and, as a result, gain momentum in 2015.

 

Source: NREI