City of Miami Offering New Land for Development

The City is offering an interesting property for development. The property is located at 400-430 SW 8th Avenue. What is really interesting is that there are no height restrictions. The density being allowed is 150 units per acre. The developer who acquires the property must allocate 20% of the units for affordable housing. The property is located west of the I-95 and the Miami River in an area not seeing any significant development. Since there is no height restriction, and the developer has to allocate 20% of the units for affordable housing, you can expect whoever takes control to put forth a uniquely laid out building plan to compensate. This seemingly small deal is important because it signifies a westward high density push past the I-95. There are few major developments west of the I-95. Neo Vertika and certain smaller scale projects along the Miami River and the SW 3rd Avenue Corridor have not yet signaled a major push west, but this development with it’s government endorsement and no height restriction might help do just that.

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