As part of its strategy to lure residents back to the waterfront, the city of Miami is offering condo-like properties for those who can’t find their way back to downtown.
The city has announced a new condominium program that will provide “rent-to-own” options for the first time in the city’s history.
Rents will be lower than they were last year, but the units will still be among the most expensive in the region, according to an announcement Monday from Miami Mayor Carlos Gimenez.
“We’re offering a lower rate for people who are willing to take a walk down the waterfront,” Gimenez said.
“There are also a number of affordable units that are available.
And there will be many other amenities.”
A walk down Ocean Drive is just one example of the new condos that will be available to residents of the city.
Miami Beach residents can walk up the steps of the City Hall Plaza and into the oceanfront townhouses that are the heart of the condo market.
They can then walk to their waterfront condo and walk back to their homes, or rent out their units for as little as $600 a month.
The city is also launching an online portal that will allow condo buyers to connect with other prospective condo buyers and landlords.
“When we think about a city, we think of people living here and working here, but we don’t necessarily think about the people who have a passion for living and living in the waterfront community,” Gimenesaid.
“So it’s important that we have that community here, and that we provide the opportunities for those people to live in the neighborhood and enjoy the beach, and enjoy being able to work, and enjoying having access to the beach.”
Gimenez said the city is committed to helping people return to the city because it’s a “critical asset for the community.”
“As the city continues to build out its infrastructure, and as we do so in partnership with businesses, we’re committed to making sure that the city has the resources and the resources to meet our needs, and we look forward to working with the community to make sure that everyone feels welcome,” he said.
The announcement comes at a time when the city and the condominium industry are working to come up with a plan to help the city recover from a devastating financial crisis.
The state and federal government have been trying to boost the economy, and a new law in the state is aimed at making it easier for residents to invest in the area.
“I’m pleased that the City Council has finally recognized the importance of keeping the waterfront open,” said city Mayor Carlos Gutierrez.
“And I’m proud that we’re able to support the people of Miami Beach to continue to create opportunities and continue to make Miami Beach the city it should be.
I know that the residents of Miami-Dade County and the City of Miami are eager to see the revitalization of the waterfront and continue the economic vitality of the area.”