In 2018, a new commuter train, Brightline, began running on the Florida East Coast Rail Line corridor. The train has been a major upgrade from existing transit options, however, there is potential for gentrification in the neighborhoods that border its stations. Nearly 60 percent of employed adults in South Florida are spending more than 30 percent of their income on rent, which is the highest of any metro area in the country. This statistic rings true for many areas in South Florida but especially for neighborhoods adjacent to the Florida East Coast Rail Line. As property values continue to climb around these transit corridors, many residents face the risk of being displaced.
“These communities are facing many challenges due to the lack of resources, rapidly increasing property values and urban flooding,” said Mel Martinez, Chairman of the Southeast U.S. and Latin America for JPMorgan Chase. “These investments will help keep housing affordable and reduce energy costs for hundreds of residents, while also protecting their property from natural disasters.”