Three developers are seeking approval from Miami’s Urban Development Review Board for projects that would add about 1,600 multifamily units to the city. The proposals include workforce apartments made possible by Florida’s Live Local Act.
Namdar Group, Helm Equities, and Crescent Heights each have plans up for a vote on Wednesday. The developments reflect continued investment in Miami’s rental market despite a recent oversupply of apartments in South Florida. This oversupply has led to slower leasing activity and more concessions for renters.
Developers believe demand will rise as their projects are completed and say they are selecting locations carefully to avoid further oversupply.
Namdar Group, based in Great Neck, New York, is proposing the largest project: a 42-story tower with 1,011 units at 250 and 296 Southwest Seventh Street in Brickell. According to the application, 405 of these apartments would be reserved for households earning no more than 120 percent of the area median income (AMI), meeting the Live Local Act’s requirement that at least 40 percent of units be affordable or workforce housing.
Namdar is also requesting permission to include 599 micro-units ranging from 275 to 400 square feet. The site is currently vacant and owned by Baywood Hotels. Namdar’s proposal does not maximize the full development potential allowed under the Live Local Act; it could build up to 48 stories and 1,030 units but has opted for a smaller scale.
Elsewhere in Brickell, Namdar is already developing two towers totaling 1,400 units. Phase I—a 43-story building with 680 units—is expected to finish early next year. Construction began in September on Phase II, which will bring another 714 units when completed in 2028.
Helm Equities, affiliated with JEMB Realty of New York, has revised its plans for a Live Local Act project in the Miami Design District. The new proposal calls for a 36-story residential tower with 278 units and an adjacent eight-story office building offering about 101,400 square feet of workspace. Additional features include over 56,400 square feet of retail space, an underground garage with room for more than 600 vehicles, open areas totaling around 6,200 square feet, and nearly 14,000 square feet dedicated to civic use. Helm owns the property at 220 Northeast 43rd Street and has adjusted its plans several times since acquiring it in 2014.
Crescent Heights aims to expand its presence in Edgewater with a new phase next to its recently completed Forma apartment tower. The proposed development includes a second residential tower—42 stories tall with 360 apartments—and an adjacent six-story commercial building featuring retail and office spaces at 200 Northeast 30th Street. Designed by Arquitectonica, this phase will connect via pedestrian bridges to both Forma—which opened last year and was reportedly leased at a rate of about $3,565–$7,515 per month as of October—and the new commercial structure.
The Live Local Act was passed by Florida lawmakers in 2023 and amended over subsequent years. It allows developers greater density if they allocate at least forty percent of their projects’ units as affordable or workforce housing—defined as available to those earning up to one hundred twenty percent of AMI—while also permitting buildings up to the tallest height allowed within one mile.
The Gindhi family is involved as limited partners in Helm Equities’ project while Crescent Heights continues its expansion under leadership including Sonny Kahn, Russell Galbut and Bruce Menin.
