Tall Apartment Projects Proposed In Miami’s Wynwood Using Live Local Act
Two developers are planning major apartment projects in Miami’s Wynwood district, taking advantage of the state’s Live Local Act.
Ultimate Equity plans to build two 36-story towers at 520 NW 26th Street, just south of the 545 Wyn office building. The 1 million-square-foot project will offer 1,300 apartments, 21,601 square feet of commercial space, and 1,099 parking spots, including two basement levels. The developer acquired the 1.9-acre site for $4.5 million between 2002 and 2010, and the land currently holds low-rise commercial buildings.
Across the street, Clara Homes has proposed a 22-story rental building at 2601 NW Sixth Avenue (pictured above). This 168,000-square-foot project would feature 147 units and 130 parking spots. In January, Clara Homes, led by James Curnin, purchased the site for $7.7 million.
Both projects will be reviewed by the Wynwood Design Review Committee on Nov. 18. The developers are requesting a 30% parking reduction and have hired architect Kobi Karp for the designs.
Thanks to the Live Local Act, which requires 40% of units to be affordable for households earning up to 120% of the area’s median income, both developments can exceed the district’s usual 12-story height limit. While the law makes it harder for municipalities to block such projects, some have still faced resistance—like Bazbaz Development’s proposed 48-story tower in May, which was rejected by the Wynwood Design Review Committee, though the vote was nonbinding.
Source: Commercial Observer