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Florida Healthy Living Magazine
UPDATE
March 06.2025
2 Minutes Read

No-Bid Deal might Shape Miami-Dade’s Affordable Housing Future

Modern Miami-Dade affordable housing complex with vibrant design.

Miami-Dade’s Innovative Housing Solution: Is No-Bid the Way?

Miami-Dade County is considering bypassing traditional competitive bidding processes to partner with developer Michael Swerdlow for a significant workforce housing initiative. This decision, if finalized, could reshape perceptions about affordable housing development in the region.

Swerdlow’s Proposal and the Local Need

As part of an amendment to a pending sales contract, Swerdlow is set to purchase 17 acres of county-owned land for $8.1 million, intending to develop 400 affordable housing units. These homes are planned to support the employees of Miami-Dade's Water and Sewer Department, addressing a pressing need for affordable housing options in the county. This area is strategically located near a future Costco development site, indicating a potential hub for economic growth.

Community Reactions: A Mixed Bag

While the county commission's housing committee prepares to vote, reactions from community members remain varied. On one hand, many see this project as a critical step toward alleviating the housing crisis affecting local workers. On the other hand, there are concerns regarding the lack of competitive bidding, with some residents questioning the transparency and fairness of a no-bid process.

Political Connections and Implications for Future Developments

Michael Swerdlow is no stranger to the Miami development scene. His connections to key politicians may play a role in expediting approvals for his proposal. Campaign contributions from Swerdlow’s affiliates to local political action committees further intertwine the realms of business and politics in Miami-Dade, creating apprehensions about favoritism in public contracts.

What This Means for Florida Homeowners

For Florida homeowners, the implications of these developments are twofold. On one side, increased affordable housing can stabilize communities and potentially raise property values. Conversely, governance through no-bid contracts could lead to worries about the quality of projects and transparency in future developments. Homeowners should remain vigilant and engage with these processes to ensure their interests are represented.

Looking Ahead: The Future of Development in Miami

As Miami-Dade navigates this agreement, the outcome could set a precedent for future housing endeavors. Will no-bid contracts become a common practice, or will transparency and competitive bidding regain their place in local development? Either way, this scenario highlights the crucial balancing act between swift progress in housing development and maintaining community trust.

In conclusion, as the Miami-Dade County Commission deliberates on this proposal, it's essential for residents to stay informed and involved. The outcome could shape the housing landscape for years to come, impacting residents and newcomers alike.

Florida News

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07.29.2025

Unlocking Edgewater's Potential: Live Local Act Approval Sparks Development

Update Edgewater's Future: A New Chapter for Miami's Skyline The recent approval of the Live Local Act for an Edgewater site marks a significant turning point in Miami’s real estate development landscape. The partnership of Amit Kort and Ofir Gabriel, operating under the name Tulip Developments Group, is poised to transform a modest assemblage of 0.8 acres into a soaring 47-story residential tower. This project promises not just to add height to the skyline but also to cater to the community's pressing need for affordable housing. Understanding the Live Local Act Under Florida's Live Local Act, a crucial incentive for developers, projects can be constructed with higher density than what current zoning laws typically permit. By dedicating 40% of units for households earning up to 120% of the area median income (AMI), the act plays a pivotal role in addressing workforce housing shortages. With Miami-Dade County's AMI for a one-person household set at around $86,800, developers like Tulip ensure these vital housing options are within reach for more residents. Economic Benefits and Community Impact The approval of this project is not just about luxury high-rises; it's also about revitalizing areas that need it most. Located in an Opportunity Zone, this site allows investors to enjoy tax benefits while uplifting potentially underdeveloped neighborhoods. The Live Local Act approval, combined with transit zone bonuses, enhances the project's viability and its capacity to accommodate the diverse needs of the Miami population. A Vision Driven by Local Needs Designed by prominent Miami architect Kobi Karp, the development isn’t solely focused on market-rate units. With plans for 296 market-rate apartments, 203 workforce housing units, and retail opportunities on the ground floor, the project is set to foster a vibrant community-centric atmosphere. This mix of high-density living and local commerce aims to ensure that residents have access to essential services right by their homes. Conclusion: What's Next for Buyers? As Miami continues to evolve, the need for balanced and inclusive development becomes ever more urgent. This new project by Tulip is not only a response to that need but also a model for future undertakings in the city. Florida homeowners and potential buyers in the area should stay informed about these developments, as the changing landscape may open opportunities for more affordable housing options in the near future.

07.29.2025

Crow Holdings Acquires 376-Unit Apartment in Davie for $97.5 Million

Update Rising Interest in South Florida RentalsThe multifamily investment sector in South Florida is witnessing a resurgence, particularly highlighted by the recent acquisition of the 376-unit 33 West apartment complex in Davie. Purchased by Crow Holdings for $97.5 million, this deal, valued at approximately $259,000 per unit, indicates a renewed confidence in the region's rental markets after a downturn precipitated by rising interest rates.A Closer Look at 33 WestCompleted in 2013, the 33 West complex features a mix of one-bedroom to three-bedroom units, with rents ranging from $2,105 to $2,767 per month. Its appeal stems from its size and amenities, situated on a spacious 15.5-acre site, making it attractive for a variety of residents in today's competitive rental market.Market Dynamics ShiftThe landscape for multifamily investments has changed significantly since the pandemic’s peak rental demand. During 2021, Broward County reported an impressive $5.3 billion in multifamily investment sales. However, due to elevated interest rates and a cooling influx of new residents, sales figures have dropped to a projected $1.2 billion in 2023. Deals like the Crow Holdings purchase suggest that while the market cools, there remain robust opportunities for serious investors.Cash is King Amid Higher RatesThe trend of all-cash deals has grown as buyers like Crow Holdings aim to sidestep hefty interest payments. Unlike many recent purchases that involve financing, Crow Holdings did not record a mortgage for its 33 West acquisition, potentially indicating a strategic move towards liquidity amidst rising rates. This trend may shape the future landscape of multifamily housing investments in South Florida.Given these market dynamics, it’s essential for Florida homeowners and potential investors to remain informed about the fluctuations in the rental market and consider strategic opportunities. Engaging with local real estate experts and staying aware of current investment trends can equip homeowners with the necessary insights to navigate these evolving circumstances.

07.28.2025

Ockap Caviar Restaurant and Financial Shift: A New Era for South Beach

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