Florida’s recently enacted "Live Local Act" is one of the most significant pieces of housing legislation in the state's history. It is designed to tackle the housing affordability crisis by incentivizing the development of mixed-income and workforce housing through new zoning preemptions, height bonuses, and tax exemptions.
For a developer-focused fund like SF QOZ Fund, this Act provides powerful tailwinds. It allows us to unlock density on our strategically located sites that was previously unattainable, enabling us to deliver more units to the market faster.
By integrating the requirements of the Live Local Act with the benefits of the QOZ program, we are able to create a highly accretive development model. We can develop premium, market-rate projects that also include a dedicated workforce housing component, aligning our business objectives with critical community needs. This not only accelerates our project timelines but also diversifies our tenant base and enhances the long-term social and economic impact of our investments in Miami-Dade.