Proposed 25-Story Multifamily Tower in Goulds: A New Development Under the Live Local Act
An ambitious new project is set to change the skyline of Goulds, a neighborhood in south Miami-Dade County, with plans for a 25-story multifamily tower. The Live Local Act initiative is at the heart of this development, aiming to integrate affordable housing with commercial space.
Key Project Features
- Developer: RCC Developers, backed by a team of Latin American investors.
- Height: 25 stories, poised to become the tallest building in the Goulds area.
- Total Units: 300 apartments.
- Retail Space: 5,900 square feet dedicated to retail.
- Parking: 290 parking spaces.
- Location: Northwest corner of Southwest 214th Street and U.S. 1/South Dixie Highway on a 1.4-acre site.
Affordable Housing Commitment
In alignment with the Live Local Act, 120 of the 300 apartments will be reserved for households earning up to 120% of the area’s median income. This commitment underlines the project’s intention to promote affordable living options amidst rising costs in urban areas. Developers benefit from height and density bonuses, as well as potential property tax exemptions by allocating at least 40% of the residential units as affordable or workforce housing.
The Vision Behind the Development
Designed by Modis Architects, this multifamily tower aims to create a vibrant community by fusing residential and commercial spaces.
Benefits of the Live Local Act
Approved by Florida lawmakers in 2023, the Live Local Act allows projects to reach the maximum permissible height within a mile of their site, thereby encouraging development and urban renewal in traditionally low-rise neighborhoods.
Comparison with Other Developments
Goulds is not the only neighborhood seeing a surge in development due to the Live Local Act:
- Wynwood:
- A proposal for a 48-story, 544-unit tower by Bazbaz Development at 2110-2134 North Miami Avenue.
- A 39-story, 336-unit project proposed by Hidrock Properties and Robert Finvarb at 2534 North Miami Avenue.
Investment and Market Trends
- Land Acquisition: RCC Developers purchased the five-lot property for $1.1 million in two transactions between 2021 and 2022.
- Growing Interest in South Miami-Dade: The availability of buildable land at competitive prices continues to attract developers to this region, which encompasses the neighborhoods of Goulds, Naranja, and Perrine, among others.
Additional Local Developments
Other notable projects in Goulds include:
- K2 Capital Group’s proposed eight-story, 206-unit building at Southwest 115th Road.
- Lennar, aiming to develop 192 single-family homes across two projects near Goulds.
Conclusion
The proposed 25-story multifamily tower in Goulds promises to not only reshape the skyline but also enhance the community by providing essential affordable housing. As developers increasingly embrace the Live Local Act, several new projects are likely to emerge, contributing to the revitalization of south Miami-Dade County. This development is a significant step forward in addressing housing supply challenges while fostering economic growth in the region.
For more information on affordable housing initiatives, check out HUD’s Affordable Housing site.
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This multifamily development in Goulds represents a pivotal moment for urban planning in Miami-Dade County, blending modern architecture with a commitment to community well-being.