Over the years, the Key Biscayne real estate market has faced a series of controversies which revolve around the numerous construction projects that have resulted in several hotels and condominiums within the beautiful island community — projects which have essentially triggered a rise in the area’s population.
However, one of the most recent controversies happens to involve an expansion plan which has nothing at all to do with any hotels or condominiums. In fact, the plan has much to do with the need for a local high school which many hope will materialize in the form of the Maritime and Science Technology (MAST) Academy.
The Key Biscayne Community
People who seek an ideal community setting within Florida often come to find Key Biscayne real estate to be a perfect option, especially since it is one of the region’s most exclusive oceanfront communities today.
The community itself is located on an island that goes by the same name. It is situated south of Miami Beach and east of Miami proper which means that people who choose to live within Key Biscayne can easily access both cities with relative ease by taking the Rickenbacker Causeway to the mainland.
In 2010, the area’s population was recorded to be 12,344 which marks an increase of 17.5 percent in a span of just one decade. According to recent statistics, the estimated median household income for the community is $99,796 which is above the average household income for the state of Florida.
The Need for a Local High School
As the population within the community continues to grow, so does the general need for a local high school. As a matter of fact, the community has pledged $18 million in financing which is inclusive of construction contributions of about $9 million in order to see to it that the plan will push through.
In the event that the proposed MAST Academy plan is approved, residents can look forward to two new academies which will offer 1,100 seats which will prioritize Key Biscayne residents. Also mentioned in the proposal is the fact that, once the expansion project has reached completion, the school is set to be renamed to MAST Academy at Virginia Key.
Its Impact on Key Biscayne Real Estate
One of the important aspects that property buyers look into when it comes to their list of options is making sure that they have everything that they need, including schools. In the event that the MAST Academy proposal pushes through with success, it could be a great advantage for the Key Biscayne real estate market as property buyers will be more inclined to live within the community knowing that there is a good school that would be located within close proximity to home.
If you would like to learn about the different options that are currently offered on the Key Biscayne real estate market, you should contact a professional agent for more information.