The Real Deal Miami

The swelling sea-level debate

Florida coastal property worth $69 billion could be at risk by 2030

November 16, 2015 12:00PM
By Francisco Alvarado

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Miami Beach adds pumps and raises streets.

From the October issueIt’s no secret that Miami-Dade County’s coastal cities will be ground zero for the potential negative impact of rising sea levels. A 2014 World Resources Institute study showed southeast Florida’s average annual rate of sea-level rise from 1993 to 2010 was almost twice that of the period from 1901 to 2010.

And a July report by the Risky Business Project, which aims to quantify the economic risks of climate change, estimated that by 2030 Florida coastal properties worth $69 billion could flood at high tide. Roughly half of the exposed real estate assets are in Miami-Dade County.

As the rising sea-level debate swells, officials in Miami-Dade County’s coastal cities are exploring and adopting measures to prevent massive flooding, such as raising building and road elevations and restoring eroded shorelines. Yet some stakeholders, such as architects and activists, claim business and government leaders are not working on a cohesive plan to ensure that greater Miami and its barrier islands will remain above water. [more]