Maximizing Potential with the Live Local Act: A Closer Look at Miami's T4-L Zone

The Transformative Impact of the Live Local Act

The Live Local Act is a game-changer, unlocking the potential to maximize the output and value of low-density land. It's not just an economic catalyst; it's a boon for property owners and developers. For single-family homeowners, this Act promises higher sale values. For small to medium-scale developers, it offers favorable land-to-building ratios.

Exploring a Modest T4-L Zone Project

To wrap up our focus on the City of Miami's T4-L zone, I explored a modest project with a standing single-family home. While conventional zoning permits up to six units, the Live Local Act empowers us to envision at least 30 units on the same plot. Curious about the model? I've shared a link in the comments for a hands-on experience – no account required.

Financial Insights and Valuation

Interestingly, our AI's price estimate stands around $600k, a figure that aligns with Zillow's evaluation. While this valuation fits the bill for a single-family residence, it doesn't quite measure up for a six-unit structure, let alone a 30-unit development. Yet, even at an ambitious $900k price tag, the venture projects a conservative yet promising 6% return on cost.

Upcoming Exploration: Industrial Zoning Potential

Before we venture into a new city, I will unpack the potential of industrial zoning under the Live Local Act in the City of Miami. Keep an eye out for more insights next week.

Author Olivia Ramos
Founder and CEO of Deepblocks, holds master's degrees in Architecture from Columbia University and Real Estate Development from the University of Miami. Her achievements before Deepblocks include designing Big Data navigation software for the Department of Defense's DARPA Innovation House and graduating from Singularity University's Global Solutions and Accelerator programs.