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(AW <br />(bw <br />III. Snapshot Analysis: <br />Understanding the TCNO <br />The Town Center North area is a key Sunny Isles <br />Beach location and an important component of the <br />City structure. <br />A "snapshot" analysis of the Town Center North <br />area was developed to characterize the conditions, <br />challenges and opportunities present in the area <br />today. The outcomes of this abridged analysis played <br />an important function in the public engagement <br />process: to offer process participants simply <br />presented key hard data about the TCNO to inform <br />their opinions. <br />The study focused on using available data from <br />dependable sources, such as housing data from the <br />University of Florida Shimberg Center for Housing <br />Studies; the most recent US Census Bureau's <br />American Community Survey (ACS) 5 -Year Estimates <br />(2014-2018) for the area at the census tract level; <br />and local development information from the City's <br />Planning and Zoning Department's tracking systems. <br />It should be noted that 2020 is a census decennial <br />year and new population and housing data for this <br />could be published next year (according to the U.S. <br />Census Bureau's pre-COVID-19 schedule). <br />As its name suggests, the snapshot is not meant to <br />be exhaustive just to p,esent a sketch in time that <br />establishes a reference point for framing options, <br />tracking future change and evaluating and calibrating <br />policy decisions. Following are the key facts and <br />figures. <br />Demographics, Socioeconomics and Housing <br />Factors <br />As of 2018, according to the latest US Census <br />Bureau ACS, nearly 4,000 people (18% of the City's <br />population) make their home within the Town Center <br />North area. <br />Approximately 2,835 residf <br />within the area provide Inc <br />population (comprising 10° <br />housing stock). This nur <br />relative to the land encom <br />area, results in an average r <br />67 dwelling units per acre (I <br />by -parcel basis, residential <br />DU/AC to 184 DU/AC. <br />Demographically, the <br />Town Center North area is <br />dissimilar from the rest ofko <br />the City in some ways. For Z.ri-14 <br />example, on average, the <br />population who lives in the range of density In existing <br />Town Center North tends residential development <br />(dwellings/acre) <br />to be appreciably younger <br />and less affluent. 67 <br />In addition, a greater share currant average density <br />of the population within (dwellings/acre) <br />the area are White Latinos Residential density <br />and a majority are foreign -born (76%), compared to <br />the City as a whole (61%). Another difference is that <br />households are a little larger here than in other parts <br />of the City. <br />The households in the Town Center North dwell in <br />multifamily developments — this is really the only <br />form of housing in the area. The predominance of <br />condominiumized buildings and developments <br />means that a significant majority, 85%, of the private <br />residential -use land within the area (and 41% the <br />total Town Center North land) is under multiple <br />ownership. These condominium developments offer <br />both permanent and seasonal occupancy. Only one <br />of the residential developments in the area is focused <br />on rental housing. Some of the condominium <br />complexes also offer vacation/short-term rentals. <br />re -Envisioning the Town Center North overlay 112/28/2020 39 <br />