Miami Beach isn’t generally considered an ideal spot for people seeking to spend their golden years, the city is better known for its young and contemporary vibe. For the most part, the elderly are probably better off choosing Palm Beach up north then trying to find beachfront affordable Miami Beach real estate. This may soon be changing thanks to a new effort being spearheaded by the Housing Authority of the City of Miami Beach.
It’s taken about thirty years but the city is about to get started on laying down the foundations for a brand new piece of Miami Beach real estate, an affordable housing project for elderly disabled persons to be more specific. In fact, the groundbreaking already took place yesterday. The building will be located at 321-327 Michigan Avenue and will consist of thirty one bedroom units that are all ADA accessible.
It should be noted that this isn’t necessarily the first type of affordable housing project to emerge in the Miami Beach real estate market but it is the first one being backed by the Housing Authority of the City of Miami Beach in over three decades. What do you think of this new project?