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Florida Healthy Living Magazine
UPDATE
March 07.2025
2 Minutes Read

Out of Scale? Miami Beach Board Rejects Michael Stern’s Condo Tower Proposal

Modern Miami Beach condo tower proposal, sleek glass facade.

Miami Beach's Treetop-Towering Proposal Faces Community Pushback

A recent proposal from Michael Stern's JDS Development Group and Gianluca Vacchi's GV Development Group for a new luxury condo tower in Miami Beach has hit a significant roadblock. Their ambitious design, featuring a 330-foot structure at 1250 West Avenue, has been deemed 'out of scale' by local officials and is heading to the Miami Beach City Commission with an unfavorable recommendation from the Planning Board. The current height limit for new buildings in this area sits at 150 feet, making the developers' request for such an increase particularly contentious.

Community Concerns and the Planning Board's Verdict

During a recent vote, the Miami Beach Planning Board narrowly decided against the tower, responding to community concerns over the substantial height and density increase proposed by the developers. Board members argued that the tower would disrupt the neighborhood's character and effectively alter its skyline. Of particular note is the project's density request, seeking a floor area ratio (FAR) of 5.75, which is significantly higher than the 4.75 FAR recommended by city staff. The fact that nearly all unit owners from the existing Bay Garden Manor condo building support the proposal highlights a divided community.

Aiming for a Compromise: Green Spaces and Public Benefits

Recognizing the apprehensions of local residents, Stern proposed to transform the nearby Bikini Hostel site into a public park as part of the development package. This aspect of the proposal is designed to provide public benefits amidst possible neighborhood disruptions, illustrating a common method developers employ to sweeten high-impact projects. Public parks can significantly enhance community well-being by providing green spaces and recreational opportunities, potentially transforming some opposition into support.

Learning from History: Miami Beach's Development Landscape

This isn't the first time Miami Beach has seen luxury development proposals meet resistance. Just a few years ago, the city faced pushback against the proposed Aman Hotel and Condo Tower, which also sought zoning changes amid community concern for building heights and views. Such historical precedence serves as a critical reminder for current developers; community engagement and transparency are essential ingredients for successful development approvals in high-stakes locales like Miami Beach.

What Lies Ahead for the Proposed Tower

The journey for developers Michael Stern and Gianluca Vacchi continues as they prepare to present their case to the city commission next month. Following feedback from the Planning Board, they must carve out a path that addresses both the desire for growth and the need for community integrity. Whether they can secure the necessary legislative changes and public support remains to be seen, but one thing is certain: in Miami Beach, every tall tale begins at the local level, and community voices will continue to matter.

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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