By Keith A. Carswell, Director, Department of Economic Innovation and
Development, City of Miami
When you grow up in Liberty City, you don’t just see a neighborhood—you feel its pulse!
Except for my years away at college, I have spent my life in South Florida. I have witnessed the cycles of disinvestment that shaped many of our legacy communities. But today, I am also witnessing something different: reinvestment, momentum, and resurgence.
Last month, many believed the opportunity to shape the next decade of neighborhood investment had closed for good. It hasn’t.
The State of Florida officially extended the deadline to recommend new Opportunity Zone census tracts to June 1, 2026—creating a defining moment for Miami’s economic future.
I believe this extension gives us a rare opportunity to influence where billions in future investment may flow over the next decade. Opportunity Zones are not abstract policy to me. I have watched them transform blocks and corridors I know by heart.
The Power of Strategic Leadership and Federal Alignment
Miami did not simply participate in the original Opportunity Zone rollout—we helped shape the national conversation around it.
Over the last seven years, I have had the privilege of organizing national Opportunity Zone summits alongside HUD leadership, including former HUD Secretary Ben Carson and current HUD Secretary Scott Turner, while also engaging directly with HUD Region IV Administrator Denise Leggett to focus on community investment and economic development.
We also hosted Chris Pilkerton, Assistant Secretary for Investment Security at the U.S. Department of the Treasury who leads the inter-agency Committee on Foreign Investment in the United States (CFIUS) and oversees the Outbound Investment Security Program.
Those relationships matter as Federal policy creates opportunity, but local leadership determines whether investment becomes transformative or transactional. Miami has worked intentionally to align federal incentives with local zoning, attainable housing strategies, infrastructure planning, and community priorities.
That alignment is one reason Miami has emerged as the Capital of Capital.
The Data: $5.04 Billion in Opportunity Zone Investment
The numbers tell a powerful story.
From January 2018 through April 2026, the City of Miami recorded approximately $21.74 billion in permitted construction costs. Of that total, more than $5.04 billion occurred within Miami’s Opportunity Zones.
That investment is fueling:
- Housing and neighborhood revitalization
- Small business and commercial redevelopment
- Infrastructure modernization
- Mixed-use and high-density development
- Community-focused economic growth
In the next two parts of this series, I will break down where this investment is going—and why Miami’s Opportunity Zone strategy has become a national model for balancing growth with inclusion.
Why the June 1 Deadline Matters
The U.S. Treasury is preparing the next long-term Opportunity Zone map based on recommendations submitted by governors nationwide. If a census tract is not recommended by June 1, 2026, it could miss out on a decade of catalytic investment opportunities. This is not simply about attracting capital. It is about directing investment intentionally—toward attainable housing, infrastructure, workforce development, innovation, and local job creation—while protecting the long-term future of Miami’s legacy residents.
What’s Next in This Series
In Part 2, I’ll examine how Opportunity Zones are helping protect Miami’s “missing middle” through small-scale neighborhood investment and attainable housing revitalization.
In Part 3, I’ll explore how Miami is leveraging large-scale development, Miami 21 zoning tools, and federal alignment to ensure growth benefits both investors and longtime residents alike.
Help Shape Miami’s Future
The next decade of investment is being mapped right now. To ensure the next Opportunity Zone map reflects the realities and needs of your neighborhood, stakeholders and residents are encouraged to participate in the recommendation process.
👉🏻Submit recommendations through the FloridaCommerce Opportunity Zone Portal.
The deadline to recommend census tracts to the Governor of Florida is June 1, 2026.
Let’s ensure Miami’s next decade of growth is as inclusive as it is ambitious!
