Report: Miami and the State of Low- and Middle-Income Housing

The Urban Institute  published a study on March 30, regarding the State of low-and middle-income housing in Miami and presented strategies to preserve and develop more affordable housing.

Some of the Key Findings from Urban Institute:

  • Population and housing stock trends indicate that Miami-Dade County grew tremendously from 2000 to 2015, especially in the city of Miami. Miami’s downtown area has gone through rapid transformation, as have other neighborhoods, such as Edgewater and Wynwood. The following findings describe where Miami’s LMI families live and how their housing has changed:
  • Opa-locka, as well as Miami neighborhoods Allapattah, Liberty City, Little Haiti, Little Havana,and Overtown, are areas where more than 8 in 10 households are very low income and low- to middle-income. These neighborhoods have high proportions of renters and below-average rent relative to the rest of the area. In these neighborhoods, creating and preserving affordable housing for LMI families remains feasible and much needed.
  • Renter cost burdens have increased all over the county and city. In 2000, 27 percent of LMI renter households were cost burdened (i.e., spent more than 30 percent of their income on housing costs). By 2015, three-quarters of LMI renter households in Miami were cost burdened.
  • In Coral Way, Downtown, Edgewater, and West Flagler, more than 8 in 10 LMI renters were cost burdened. The most dramatic shift may be in Wynwood, where just 15 percent of LMI renter households were cost burdened in 2000, which increased to 74 percent by 2015.
  • Downtown, Edgewater, and Wynwood saw substantial development of new housing units, with new units dominating by 2015, in contrast to a majority pre-1980 stock in 2000. This reflects tremendous development in these areas, which is replacing older and previously affordable housing with newer and more expensive units, leaving less housing for LMI families.
  • Allapattah, which is near Downtown, Edgewater, and Wynwood, may be on the precipice ofsignificant change and gentrification. The Miami arts community has extended beyond Wynwood, and land and buildings are being purchased to establish art galleries in Allapattah.
  • Homeowners report being approached directly by real estate investors to purchase their homes, and area renters are concerned they may be at risk of displacement. Without prioritization from county or city leadership, Allapattah may be at risk of losing its Dominican community heritage, multi-generational LMI families, and affordable housing.
To read the full report and policy interventions Urban Institute

Report: Foundation Support to CED Activity

Local community and economic development (CED) depends on a combination of public and private funding. In recent years, foundation grants have become an important source of funding for initiatives to develop the local economy through the pursuit of better-paying jobs, infrastructure to support revitalization, affordable housing, or improved systems for education or health care. .

The Federal Reserve Banks of Philadelphia and Atlanta recently investigated the way in which foundation grants to support CED activities were distributed across 366 metropolitan areas in the United States. The research relied on data provided by the Foundation Center that captured grants of at least $10,000 made by the 1,000 largest foundations between 2008 and 2013.

There are an estimated 1,714 total nonprofits focused on community and economic development in the Miami-Fort Lauderdale-Pompano Beach area.

MiamiAreaFUnding

To view the interactive report and see how the Miami metro compares to other metros, visit: Here

2016 In Review

South Florida Community Development Coalition would like to thank our members and supporters in 2016 to advance opportunities to create affordable housing and economic opportunity in Miami-Dade County: We look forward to building on our 2016 activity to achieve great outcomes in 2017.

Capacity Building & Convening

Training

  • January 9, 2016: Tools You Can Use: Florida Affordable Housing Finance Programs Overview (Held in partnership with Florida Housing Coalition and Federal Home Loan Bank)
  • January 19, 2016: Develop Over Lunch – Building Nonprofit Capacity (Held in partnership with Legal Services of Greater Miami)
  • March 28, 2016: Public Health and Community Development Convening (Held in partnership with the Health Foundation of South Florida)
  • April 18, 2016: Developing a High Performing Board
  • May 3, 2016: Positioning Your Brand for Success: Doing More with Your Nonprofit Marketing Resources (Held in partnership with Florida Community Loan Fund)
  • May 24 2016: Brownfields: Making a Difference in Your Communities (Held in partnership with the Florida Brownfields Association)
  • June 29 2016: Rapid Rehousing (Held in partnership with Florida Housing Coalition)
  • July 20 2016: Homeownership Roundtable
  • October 3, 2016: Team Miami  Convening Regarding Lessons Learned from Detroit (Held in Conjunction with Catalyst Miami and Team Miami)
  • October 17, 2016: Effectively Planning for Affordable Housing & Develop Over Lunch Session (Held in Conjunction with American Planning Association – Gold Coast Chapter)

Policy

SFCDC received an appointed seat to the Miami-Dade Affordable Housing Trust Fund Board of Trustees in 2016 to represent Miami-Dade’s community development sector.

Working alongside People Acting for Community (Miami-PACT) and Miami Homes for All and many other organizations and members of the community, SFCDC advocated for the creation of the Affordable Housing Trust Fund Revolving Loan Fund.

To learn more about SFCDC’s work, please check out the Presentation from our December 7, 2016 Annual Meeting.

 

SFCDC Receives Capacity Building Grant

November 14, 2016 –  South Florida Community Development Coalition (SFCDC) receives capacity building grant from the Aspen Institute and JPMorgan Chase. Organizations selected work to strengthen the capacity and effectiveness of nonprofits in their community.  Catalyst Miami, a member and partner of SFCDC, was also named as a grant recipient. A total of 10 awards, from across the country were made.

Press Release from Aspen Institute.

Photo: 2017 Grant Recipientsaspenjpmc

Sunsentinel

Bank fund targeting affordable housing in South Florida

 

Ten banks, with six located in South Florida, helped launch the Community Development Fund with $25 million dollars. The fund was introduced by Ken Thomas, an economist and banking consultant, who is tired of South Floridians making $40,000 or $50,000 a year and not being able to afford to buy a home. The funds will be used to invest in securities backed by mortgages valued in the $100,000 to $200,000 range to encourage lenders to keep making the loans and builders to find ways to develop communities that first-time buyers and young professionals can afford.

Read more: http://www.sun-sentinel.com/business/realestate/fl-affordable-housing-fund-20160617-story.html