Developer boosts size of Miami-Dade project through Live Local Act … – The Business Journals

A 14-story apartment building planned at 1477 N.W. 79th St., Miami-Dade County.
A developer has resubmitted plans for an apartment building in the West Little River neighborhood of Miami-Dade County with additional density under Florida’s new Live Local Act.
Jaimito Ventures LLC, owned by James Cullin in Miami, previously filed a pre-application with the county for the 0.36-acre site at 1477 N.W. 79th St. that called for 52 apartments in five stories.
Briana Campbell of Miami-based Zilla Companies, which is working with the developer, said the plans were recently resubmitted with the county under the rules of the Live Local Act, which the Florida Legislature passed this year.
The new law allows developers to bypass local density rules and public hearings for projects with some affordable/workforce housing. Developers can utilize the highest density in the city and the highest height within one mile as long as at least 40% of the units are “affordable housing” for 30 years. The bill defines affordable housing as 120% of area median income, a category usually associated with workforce housing.
The new plans for 1477 Residences call for a 14-story building of 159,783 square feet, with 90 apartments, 2,750 square feet of retail and 80 parking spaces. There would be an open-air deck on the fifth floor.
Campbell said the project would allocate 70 units to workforce housing at 120% of area median income because the Live Local Act allows for a 75% reduction in property taxes for those units, a waiver of impact fees and no sales taxes on materials for up to $5,000 for those workforce housing units.
“We need at least 70 units to allocate to workforce housing to qualify for that 75% reduction in property taxes so upping the units just makes sense,” she said. “Property taxes are a big chunk of the expenses. Insurance will be the other, but this property is not in a flood zone and is inland so we expect to be able to keep those costs in line.”
The lot also allows for an 80% reduction in parking requirements, but the developer decided not to reduce parking too much, she added. The county also has a workforce housing density bonus.
The median household income in Miami-Dade County is $74,700.
The developer acquired the vacant property for $625,000 in February. Miami-based SD Collaborative designed the project.
West Little River is a historically Black neighborhood that hasn’t had much housing construction outside of affordable housing in recent decades.
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New square feet developed 2022
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