MIAMI (CBSMiami) – Miami Mayor Francis Suarez feels that a new affordable housing strategy for the city will give people more opportunities for success.

So much so that on Monday, for the first time, he unveiled an action plan to address Miami’s need for housing and the steps to get there in five years.

“This is the final stage in our plan to create, to renovate, 12,000 units of affordable housing in the city of Miami. It’s transformational,” he said.

With Miami having the third most expensive rental market in the United States, Suarez said proper affordable housing is something that can change the community and even lower crime.

“It is a cycle and it starts with housing. When you create housing, people live in dignity,” he said.

Last year, the City of Miami was one of six teams chosen from across the country by the Center for Community Investment to address the need and opportunities for more housing.

“We are going to be funding it through the hundred million dollars we received on the general obligation bonds of the voters voted to approve. I’m asking the federal government to match that at some level. I’ve had multiple meetings with HUD Secretary Ben Carson and he’s receptive to the idea,” said Suarez.

The ground has already been broken in some areas of the city where units have been approved for affordable housing.

The places being focused on are close to public transportation, community redevelopment agency districts, and basic needs like fresh food, jobs, and education.

Suarez said the plan has been in the works for about a year and they aim to have these units by 2024.

“This is going to be something that is game-changing,” he said.

What Suarez revealed on Monday was what he termed a ‘first draft’. He plans to go before the city’s commissioners by June when they will have a final draft ready.