The unapologetic and careless booming of construction in Miami has shown how the real estate business does not care about the imminent sea level rise.
Many of the wealthiest people in the US, reside in Florida. Capable to pay sixty million dollars for a penthouse. Between 2019 and 2020 the total value of Miami’s housing market was estimated to 864.2 billion.
There are 96 high rise buildings in Miami, more than 50% of those is located close to the ocean. Today an afternoon walk down the beach is a constant walk between two rising lines.
The limit of coastal construction control line (CCCL) varies across the state in distance landward from the mean high water line, ranging from approximately 200 feet in a portion of Florida’s east coast to over 1,000 feet in a part of Florida’s west coast. If a CCCL does not exist, the line of jurisdiction is the 50-foot setback.
In Miami-Dade county alone, $15 billion to $23 billions of coastal property is at risk of flooding in just the next 15 years. The region has been called “ground zero” when it comes to sea-level rise, where some climate models predict up to 3 feet of water by 2060.