Jorge Perez spoke out today at the City of Miami Commission Meeting clearing the names of Miami city officials who purchased condos in his affordable housing projects in downtown. He and city officials were recent targets in a Herald article which criticized the actions of related and city officials alike…
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Great Article from the herald by Miami Mega Developer Jorge Perez:
Jorge seems to have some of the same opinions as Miami Transit. Here are some key excerpts as to what our city needs to work on to continue to boom as it has in recent years. We agree with Perez’s assessment of the situation and are glad that the developers realize that they too have to work hand in hand with government officials to make Miami a more accessible place for all of us to live in.
Jorge seems to have some of the same opinions as Miami Transit. Here are some key excerpts as to what our city needs to work on to continue to boom as it has in recent years. We agree with Perez’s assessment of the situation and are glad that the developers realize that they too have to work hand in hand with government officials to make Miami a more accessible place for all of us to live in.
So, what can go wrong when everything seems to be falling in place?
• Despite the huge surge of residential and hotel construction in the past few years, economic development has lagged way behind in attracting medium and large corporations that will lead to an expansion of the downtown office market. And without strong growth in downtown office employment there will be little need for further downtown housing, unless we become a city of second homeowners and tourists.
• We need to seriously invest in our public-transportation systems. It is imperative that we minimize our every-day dependence on the automobile and provide viable linkages between urban nodes. This will again require public-sector vision and strong political will.
• Cities will become the place where the very rich and a few of the very poor will live. Today, we see only condominiums that start at more than $300,000 (and those are fast disappearing). Rental housing in the urban core has almost ceased to exist as it is highly uneconomic to build rental properties, and existing rental buildings are either being torn down or converted into condominiums. With land scarcity and increasing construction costs, housing affordability could become our most pressing problem.So, while I am very concerned with the oversupply and reduced housing demand that we are experiencing, I believe that urban job growth, transportation and affordable housing are the three issues that will affect our city most over the long run. I hope, as in the recent past, that the private and public sectors can team up to
aggressively address these issues.-Jorge Perez
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