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Fighting Rising Sea Levels with Real Estate

January 24, 2018

Fighting Rising Sea Levels with Real Estate on morrissegroup.com

South Florida is leading the way in smart development

It’s one of the most spectacular views in the world: Miami rising from the sea like a modern-day Atlantis. From some vantage points, it looks as if land and water are one – but that multi-million-dollar selling point threatens to bring Miami to the same fate as the lost continent.

Attribute it to climate change or not, something is definitely going on with the weather, the tides, and the rising sea. Research from the University of Miami has found that flood events in Miami Beach have significantly increased as the result of the acceleration of sea-level rise in South Florida.

Could real estate save the day?

Further complicating matters is the end of the 2017 hurricane season, which has been labeled extremely active and the most expensive. In addition, seasonal high tides – also known as King Tides – are becoming more frequent, flooding more and more streets and neighborhoods.

An answer to this potentially dire future may be found in real estate. Municipalities, developers, and investors are actively pursuing solutions to ensure that South Florida will still exist above sea level, 50 to 100 years from now.

South Florida’s response can lead the nation

While many coastal locations are at risk of sea rise, South Florida is especially vulnerable because it has always been just a few feet above sea level. At the same time, buyers and investors are increasingly climate savvy. Not only do they want to know about a building’s ability to withstand hurricane force winds, they also want to know if their property will have a water view in the future or if it will be in the water.

While there are no plans to stop development along the coast, South Florida is still providing solutions to combat the tides. In 2009, Broward, Miami-Dade, Monroe, and Palm Beach counties joined together to form the Southeast Florida Regional Climate Change Compact as a means of coordinating efforts across county lines. Additionally:

There is a push to develop and market storm-resistant and hurricane-resilient buildings. A downtown Miami high-rise has been designed to withstand 300 mph winds – and this information is all part of the marketing package to entice buyers.

The developers of a property on Las Olas Boulevard in Fort Lauderdale not only installed higher sea walls, but also brought in soil to raise the level of the lots.

More and more municipalities are embracing green building standards to combat climate change and support sustainability.

In Miami Beach, building codes now require new construction and city infrastructure to be elevated. In addition, planning and zoning boards throughout the region are examining current codes and proposing changes to raise height limitations for sea walls, placing roads, water, sewer, and electrical systems on higher ground, and installing massive pumps to return the water from whence it came.

A place to live and work and play for decades to come

It’s the view. It’s so beautiful. To lose it – to lose Miami and its surrounding cities and towns –would be devastating. It’s why Morris Southeast Group embraces proposals and efforts that will help keep the region vibrant and above water for generations to come.

For a free consultation on CRE, call Morris Southeast Group at 954.474.1776. You can also reach Ken Morris directly at 954.240.4400 or via email at kenmorris@morrissegroup.com.

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