Miami Beach’s Strict LEED Requirements
How important is climate change to you? Are you the type that likes to reduce their carbon footprint as much as possible? If you happen to be a Miami Beach resident, the city is looking to do just the same and will be penalizing future builders that don’t step up their efforts to become “greener”. How so? With a new ordinance that went into effect last month, builders planning on erecting any stricture that’s larger than 7,000 square feet must abide by new green building standards or they’ll be required to shell out for a five percent fee based on the structure’s cost of construction.
Had Miami Beach implemented the new ordinance about six years ago, the city could have generated roughly $60 million dollars that could have been used towards green initiatives, including installing electric vehicle charging stations or contamination clean up efforts. Since these projects typically involve millions of dollars, the five percent fee is considerable.
Miami Beach’s ordinance is stricter and more ambitious than any other jurisdiction in all of South Florida. These structures are required to have no less than a LEED gold certification if the builder wishes to avoid having to pay the five percent fee.
There is some debate that the ordinance could put the brakes on an already slow market, but there is no denying Miami Beach’s efforts to become environmentally conscious are ambitious and welcoming.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in the Portofino Tower. If you are interested in Miami Beach condos such as the Portofino Tower South Beach condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.