Developer Preparing To Break Ground On 398-Unit Apartment Tower In 2022

A Miami developer is planning to begin construction on a 398-unit apartment tower in 2022.

NR Investments says it wants to build the project as workforce and affordable housing units, with starting prices ranging from $1,747 for a studio to $2,750 for a 2-bedroom.

The developer is asking the Omni Community Redevelopment Association for a grant of $15 million and an additional $13.6 million in Tax Increment Financing in order to be able to price the apartments at those affordable prices.

The CRA board was scheduled to review the financing requests at a meeting yesterday.

In addition to the apartments, the project is planned to include 9,000 square feet of ground floor retail.

Construction is planned to get underway in June 2022, with completion in October 2024.

Total construction cost of the tower is estimated at $141.4 million.

 

 

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Anonymous
14 days ago

Totally affordable 🤪🤪🤪

305 donk rider
14 days ago

You goofy with the same emojis on every post

Anonymous
14 days ago

don’t be mad!!! 🤪🤪🤪

305 donk rider
14 days ago

I aint im a donk rider foe show

Altoids
14 days ago

the donk 😳

Azarius
14 days ago

This project will bring the much need density and apartments but the term affordable at 2,700k for a 2 bedroom is crazy‼️

Metromover to Wynwood
14 days ago

Its a two bedroom in the urbancore, they clearly have units at 1700 which are a discount for the urban core.

Anonymous
14 days ago

Considering the median household income of the county is $59k and you need to earn 3x the rent to qualify…. that studio at $1747 requires $63k in income… and the $2.7k two bedroom requires $97,200 in income… median household income is not per capita so…. yeah even the $1.7k isn’t really a discount.

Pay your bills
14 days ago

muh median income, again guy its the urban core, yall want everything subsized.

Azarius
14 days ago

You right! 2700 should be considered market rate

Anonymous
14 days ago

A 2/2 is made to be shared by two adults or by two working parents and 1-2 kids. Which using your x3 calculation would put it at 48.6k of income for each working adult.

Anonymous
14 days ago

Not for something called affordable housing–$1700/mo for a studio is high end in South FL and above what over half the workers can afford.

Anonymous
14 days ago

If no one is willing to rent it at that price it’ll become affordable…If you want affordable housing they have plenty in San Francisco and LA look how well its worked out for those cities. The only answer is we need to build more which Miami is doing, it’ll take time but rents will fall or stay flat.

Anonymous
14 days ago

This is what Melo offers their units at and they arent asking for incentives, would like to understand why this developer cant deliver the same

POLO
14 days ago

Affordable housing with starting prices os $1,747 for a studio to $2,750 for a 2 bedrooms, it’s a joke. We are getting Californicated!!!

POLO
14 days ago

Prices of…typo

Anonymous
14 days ago

Except salaries here are a joke

Anonymous
14 days ago

Miami rental housing right now: developers asking for 30M in subsides to price a studio at $1,800 a month, and airbnb towers selling out before a shovel hits the ground. What a time..

Anonymous
13 days ago

Horrible time to actually live in Miami permanently and be in the market for housing. Enough with the AirBnB buildings: investors buy the whole thing up and real Miami residents never get a chance to buy housing

Anonymous
14 days ago

Love the look of the buildings, so unique and has never EVER been done before on the history of the
planet!

Bravo!!!!

Anonymous
14 days ago

😍

Metromover to Wynwood
14 days ago

Most buildings in cities look alike, go play with some legos if you want to see a skyline with different buildings.

Anonymous
14 days ago

Always the same response, “go do this” “then you do it then” nooo am I not allowed to have an opinion 🙁

Anonymous
14 days ago

How TF is that affordable??? This is getting out of control!!!

Anonymous
14 days ago

Who’s the developer? Where is this?

Metromover to Wynwood
14 days ago

Overtown/Omni distract/ Melo Zone

Anonymous
14 days ago

Thanks

Anonymous
13 days ago

Lol… Article should’ve just had the rendering and price tag – get it together TNM!

Anonymous
14 days ago

Too cheap!!

Anonymous
14 days ago

What bs. They want free tax payer money to price 2br units at almost $3K. If any commissioner approves cra money, it’s guaranteed they did underhand dealings with the developer.

Metromover to Wynwood
14 days ago

No it needs to start now

Anonymous
14 days ago

Great

Anonymous
14 days ago

Zoning should be re-done so the skyline can at least go five more blocks further north.

Altoids
14 days ago

What happened to the Uni Tower, anybody remember this headline? “Uni Tower To Begin Construction In Omni Area Next Month After HUD Secretary Ben Carson Attends Unveiling Ceremony” this was 10 months ago..

Anonymous
14 days ago

Buydumb’s HUD has bigger fish to fry and burn, like idiotic plans to ban single-family zoning, which would ultimately make housing more costly, especially when land is scarce. Existing single-family homes will become gold, meaning developers buying less for infill development assemblages, resulting in low supply and high demand.

Anonymous
14 days ago

This is a SCAM. Just like the Estefan’s vacant lot gotta $200K grant from CRA and they sell $40 tickets to the drive in movie. The downtown tax prayers got Jack $4!+ out of it. Same goes with this. I am sure the city is in collusion with some developers to skim off CRA money which they saw is flush with funds and they are scheming how to divert and steal these funds.

Anonymous
14 days ago

So sad to hear that Tao is no longer coming to women’s club in Edgewater and instead another surf and turf restaurant called klaw. Yeah we don’t care for another super expensive steak house. Tao is a nightclub/restaurant which is what is needed. How is this major news missed by TNM? can they give us inside scoop on what happened to Tao and how this ended up becoming a steak house? They mentioned a roof top bar but whatever happened to the Bayfront raised deck open air dining Tao planned earlier? Also they say klaw will be open by November but the building and the grounds are in utter shambles. How is it possible? TNM, please investigate. Thanks.

Anonymous
13 days ago

Tao should come to Miami Worldcenter instead.

Anonymous
14 days ago

What happened to the beautiful glass tower proposed to cantilever over the historic fire station? The renderings of this proposal are a hideous mess of cluttered windows and tacky murals, and another insult to a historic building like Downtown 5th is to the Central Baptist Church. Frankly, this building makes even most Melo buildings look like One Thousand Museum!

Mike Brady
13 days ago

I feel bad for the chickens in that empty lot. Where wil they go? And the rooster??

Azarius
14 days ago

That’s not affordable! Is crazy the numbers these developments come with like who paying that much for those prices to be considered affordable workforce smfh

Anonymous
14 days ago

Name your rents! Let’s hear what they should be.

Anonymous
14 days ago

It’s fine to ask for those rental prices but the nerve to ask for subsidies claiming this is affordable/workforce housing is ludicrous.

Azarius
14 days ago

Whose getting paid that much per hour for those prices to be considered affordable/workforce in the Miami housing market

Anonymous
14 days ago

They’re preparing for people moving to Miami from the north east and California.

Anonymous
14 days ago

that area is becoming very lively and it will get more lively with this building and another big project melo has in the pipeline

Anonymous
13 days ago

Honestly, from the picture, I can’t tell which tower they are talking about

Anonymous
12 days ago

“AFFORDABLE”, and they asking CRA for that amount of $$$$, Please who are you Voting for starting this Year..

John
6 hours ago

Get your hands off Miami urbanists I am for Classic Tower

Anonymous
14 days ago

I read the comments in most of these articles… its crazy to believe that so much people are okay with what’s going on in Miami. To ask the city for subsidiaries and have a studio starting at $1,700 is absolutely absurd. I know plenty of people who live in NY and Cali and they have to work 2-3 jobs to make ends meet (not get ahead in life). All of you need to stop with this build it now mentality. There is a reason so much people are leaving states like NY and Cali. We need to make sure that if our local gov’t is giving money to build these towers, its for the immediate benefit of those who live in the Miami Dade area and not people moving from NY and Cali.

Anonymous
13 days ago

Crying all the time about it won’t stop shit.. this is about business whether you like it or not.

Anonymous
14 days ago

Keep Overtown black!!

Metromover to Wynwood
14 days ago

Only if Aventura is kept kosher and Lemon City is kept bahamian.

Anonymous
14 days ago

Where is your sense of diversity? Best cities in the world are cosmopolitan. Learn the meaning of it.

Market Urbanist
14 days ago

Tokyo isn’t very diverse. Neither is Hong Kong. Or Singapore. Tens of thousands of expats in a city of tens of millions doesn’t count. Neither is Mexico City. Or Santiago, Chile. Most Latin American cities are still pretty Latin. Most European cities are still mostly white, except for London and Paris.

Anonymous
14 days ago

I study in Paris in the 1990’s, I used to live in the University City ( 15 arrondissement) and then move near Parc Monceau ( 8 arrondissement)
I went back to Paris in 2018… I tell my friends that “ I went to Paris for 7 days but stayed in Algeria for one week”

Anonymous
14 days ago

Obviously, you’ve never leave your house in Pinecrest. Singapore is literally the most diverse city in the world. Then again, if a city is 90% a foreign race or ethnicity, it’s “diverse” according to SJWs.

Anonymous
13 days ago

It’s most Chinese, Indians and Malays that don’t diverse 🤡

Anonymous
14 days ago

“Latin” is subjective when an Italian, German, or Japanese person from Latin America can be considered “Hispanic,” as well as Blacks, Indians, and everything in between. Demographics aren’t really conducted well. Also, I assume you’ve never been to many European cities if you’re just alluding to London and Paris. You could have at least included Frankfurt, and your argument would have had some more merit.

Metromover to Wynwood
14 days ago

This is barely in overtown anyways, more in the omni distract. Only a dozen out of the hundreds lively here would ever eat at jacksons soulfood.

Anonymous
14 days ago

“Keep Overtown black!!”

Sorry Son but that shit was over a long time ago. At one time, there used to be about forty-two to forty-four thousand black people who lived in Overtown.

Anonymous
14 days ago

If someone say the opposite.. “Keep any city w…., it would be considered a racist comment 🤗

Anonymous
14 days ago

Like it’s ok for a white woman with a gorilla mask thrown an egg to a black politician (Larry Elder) on the street
Imagine if that person were Kamala Harris being egged by a white woman with a gorilla mask… CNN and other media outlets would been scream 😱!!!

305 donk rider
14 days ago

yeah shaun king didn’t talk about this incident and he is always baiting

Anonymous
14 days ago

Imagine if Kamelface Hors**t, who was the preferred darling of her party’s establishment, got utterly destroyed in a Primary Election because nobody outside avocado toast and kombucha Commiefornia likes her, but then forces her in the door making a palatable old man like Biden choose her as his Vice President, stuffs ballot boxes, and will try the 15th Amendment or forcing Biden to resign to initiate her reign. She was shown as utterly incompetent in a debate again Mike Pence. CNN and other media outlets called it “white mansplaining,” until she did interviews and couldn’t answer a single question, and goes missing for long periods of time.

Anonymous
13 days ago

And She never been to Europe !!! 😂

Anonymous
13 days ago

Didn’t we just hear and see on the internet and some news outlets on TV a white women with an hispanic man driving around in a truck with a huge Confederate flag on it and pointing a rifle and shotgun and yelling “ni..er” at a black woman and scaring the shit out of her kids who just minding their own business in a park?

Anonymous
13 days ago

Of course !! We always here about whites doing wrong things, not that it’s right …but hardly about the opposite… God bless the soul of the young father that was killed in South Beach protecting his son ! 🤨

Anonymous
13 days ago

And God bless the young man who was killed by that father and son duo while he was just jogging down the road in Georgia.

Anonymous
13 days ago

Where is BLM now that in Chicago more kids have been killed by gun shots than Covid ?

Anonymous
13 days ago

^ I was wondering just how long it would take when somebody was going to play that “Chicago card” hidden in the back pocket again.

Anonymous
13 days ago

The Chicago card comes out all the time because it’s a sad reality and an example of Democrats policies failing to help inner cities… they don’t care, they’re in glamorous parties with very rich people, like the Met party in NYC were the workers were the only wearing mask while the elite wasn’t . And there was an idiot with a dress that said Tax the Rich!! 🤑

Anonymous
13 days ago

If you don’t think the Chicago crime is a problem your blind or you’re the typical Snowflake 😂

Anonymous
13 days ago

BLM is a White movement. Look at their supporters….
All they want is to destroy America and divide us.
It’s pathetic. And all the simple minds that fall for it.
They simply don’t give a hoot for Blacks. If they did, they’d be concerned about education, black on black crime, the 60% of kids growing up with fatherless homes, I could go on and on but no, they are concentrating on division and alienating blacks from society. Immigrants come to this country, some of them black and are not concerned on what others think of them. They come here to better themselves, work and be entreprenurial not to sit and home and collect a welfare check

Anonymous
13 days ago

Then London should be kept British and Paris only full of Frenchmen? Places change and evolve. Why is race the issue? God created a diversity of races to make us all different. I think if people learned to accept themselves for what they are and not be concerned on what others think, this world would be a better place.