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September 16, 2020

Behind A Former Florida Mayor's Idea For Real Estate Climate 'Restoration Bonds'

Politicians and developers in South Florida love to cheerlead about how great the region is, often brushing off concerns about climate change to instead talk about beautiful beaches and tax advantages. But Philip Stoddard, a Florida International University biology professor and the former mayor of South Miami, has a darker take.

“My biggest concern is infrastructure collapse,” Stoddard told Bisnow during a recent call.

Every day, people are taking out 30-year mortgages on homes in the region, but there’s likely to be at least one more major hurricane in the next three decades, Stoddard said. That chance, combined with the threat of sea-level rise, means that sooner or later, flood insurance rates will become unaffordable and banks will stop lending. Property values will drop, the tax base will fall out, and there won’t be any money to pay teachers, parks or police, he worries. 

“This is how societies unravel,” Stoddard said.

Behind A Former Florida Mayor's Idea For Real Estate Climate 'Restoration Bonds'

But he's not all gloom and doom. Stoddard thinks that South Florida is "paradise" for the near future, and that local governments should still invest in infrastructure like rail and seawalls. But those bodies should also be preparing now for future impacts of cllmate change.To that end, Stoddard's floating an idea he…

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Luxury Miami Condo Association Sues Airbnb While Platform Cracks Down On Parties

Luxury Miami Condo Association Sues Airbnb While Platform Cracks Down On Parties  

The condominium association of a luxury tower in Miami's Edgewater neighborhood has filed a civil lawsuit against Airbnb, and several additional lawsuits against Airbnb hosts, over short-term rentals at the property. 

Transient renters have led to problems including a shootout in an elevator and increased costs for security, maintenance and insurance, the condo association alleges. “Airbnb has misappropriated the condominium property and turned it into its own de facto, unlicensed hotel,” according to the complaint, filed by Opera Tower Condominium Association Inc.…

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Suburban Cities Are Working To Shut Down Hotels Keeping The Most Vulnerable People Housed

Across the country, local governments are fighting to regulate or close down extended-stay hotels, particularly the low-cost accommodations they view as hubs of crime and illicit activities.

But their battles against these hotels — where guests can pay by the week and stay for as long as desired — often have collateral damage. They are often the last housing resort for many low-income, transient workers.

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Uncertainty Over Winter Dining Is The Dark Cloud Hanging Over NYC Restaurants

NEW YORK CITY — Despite Gov. Andrew Cuomo's declaration that indoor dining in New York City can resume Sept. 30, restaurant owners across New York City say they have no way to plan for the coming winter because the current policies are unclear or they don't trust that Cuomo or Mayor Bill de Blasio will stick to them. 

With summer unofficially over, the prospect of a New York winter just months away has blown uncertainty and fear toward the New York City restaurant industry, which has been in a dire crisis since the city shut down in March. Among other issues, restaurant owners said there is a lack of clarity, from both the state and the city, around what would even be considered outdoor dining in the winter months.

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Origin Stories: Kim Sisney Answered A Want Ad That Put Her On A Career Path In Affordable Housing

 

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

Habitat Affordable Group Vice President Kim Sisney has been in affordable housing almost all of her career, but she didn't start there. Her first job, while still taking night classes, was at a potato chip maker.

She answered an ad for a clerical position at a multifamily property manager and soon there was no looking back. She had found her calling — affordable housing —and now she manages more than 12,000 affordable units in Chicago and St. Louis. 

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