Better Transit and Smaller Apartments will Bring Momentum to Downtown – BISNOW

June 07, 2016

There is one strong central calling in downtown, an improved transit system to battle the “traffic crisis” Miami has confronted in its growing stages, and there are many reasons why. Millennials have been increasingly moving into the downtown area, having little patience to be in the car for several hours a day, and more so not having a bus be on time. Miami, being the young city that it is, began developing at the same time the car had, giving it this overwhelming feeling of spread out space. Things are far apart, and with the increasing traffic, less and less accessible.

With a stunning 47% of Downtown residents of the Millennial age, there are groups concentrated on bringing in a more youthful, energized population to the city’s center.

Implementing smaller, for-rent apartments with low rates and affordable costs, is imperative to bringing in a new era to Downtown. More importantly, the cost for investors to yield, considering the high costs of building vertically, and the unit sizes to implement these ideas. With more developed and intricate projects coming to fruition, Downtown will see a lot of urbanization and growth in its coming years.

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