October 5, 2021
Bisnow’s State of the Market
Great to be in Miami after an awesome week in NY for United Nations GA and Leaders on Purpose summit. I participated in a panel discussion for the Bisnow State of the Miami Real Estate Market, where, Francis Suarez, the charismatic mayor of Miami delivered his keynote, highlighting so many of the positive things that are happening in Miami right now! We are certainly having a “Miami Moment” and Francis is doing an amazing job promoting Miami and attracting incredible people, talent, and capital to the Magic City.
Miami ranks #1 in the nation for tech job growth at 29 percent and 1.2 trillion dollars worth of assets under management has moved to South Florida, which is why the mayor calls Miami the “capital of capital” not only financial capital but also human and intellectual capital.
That said, it is important to temper this excitement and enthusiasm with the reality that many people face as Miami becomes increasingly unaffordable for the vast majority of people. So we must provide solutions for affordable, attainable, workforce, and sustainable housing that is pandemic and climate-resilient. We must be proactive in addressing climate change and sea-level rise and tackle these issues head-on. We should become a hub for climate solutions, innovation, and prototyping. This is what I spoke about on my panel.
I know these are tough topics to discuss, but we can’t simply ignore our biggest challenges. I’m very grateful for the tremendous growth and opportunities that have come to Florida, mainly as a result of migration due to the pandemic, however, these benefits don’t come without their drawbacks; overcrowding, suburban sprawl, loss of biodiversity, increased traffic, and housing prices.
The solution: cross-section collaboration at scale and massive investment into social equity and climate solutions. This means that we all need to come together and collaborate on solutions. Government, the private sector, foundations, NGOs, etc. This is the only way forward and something we are passionately working on at Future of Cities
Let’s use this “Miami Moment” to invest in our future and stop borrowing from our children. Let’s co-create a Miami which is for everyone and an exemplary city known for diversity, climate solutions, innovation, and social equity.
Read Article on Bisnow website HERE