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Keystone Holdings Group Launches Ambitious Housing Project in Fontainebleau
The demand for affordable housing in Miami-Dade County is about to receive a significant boost as Keystone Holdings Group proposes its latest project, the Keystone Midway. This proposed initiative aims to build a substantial 477-unit apartment complex, designed to cater to a wide range of residents, including those with below-median incomes.
A Closer Look at the Keystone Midway Project
Envisioned as an 18-story building, the Keystone Midway will sit on a spacious two-acre lot located at 190 Northwest 79th Avenue. Notably, the project will include one- and two-bedroom apartments, with at least 40 percent—190 units—set aside for households earning up to 120 percent of the area median income. This aligns with Florida's Live Local Act, which promotes the development of affordable housing amidst a growing crisis of housing availability and affordability.
Why the Live Local Act Matters
Since its introduction, the Live Local Act has catalyzed a wave of housing proposals across Florida. Developers, responding to the legislative incentives, are now more inclined to include below-market rentals in their projects. This not only makes homes more accessible for local families and individuals but also aids in alleviating the state's housing shortage, a growing concern among Florida homeowners.
Implications for Local Residents and the Housing Market
Construction of the Keystone Midway is poised to impact not only prospective tenants but also current homeowners in the area. By increasing the supply of affordable units, this project can help stabilize property values by preventing price surges induced by limited housing availability. Moreover, projects like this are often accompanied by a ripple effect, initiating further investments and developments within the community.
Looking Beyond Keystone Midway: The Bigger Picture
Keystone’s initiative is part of a broader movement where various developers, including Related Urban and commercial brokers, are proposing similar projects under the framework of the Live Local Act. The recent flurry of activity is a hopeful signal that the housing landscape in Miami-Dade is on the verge of transformation. For homeowners and residents, such developments could herald a much-needed shift towards affordability and community resilience.
As this project moves forward, it becomes essential for residents to stay informed and engaged with local developments. Understanding and participating in the growth of your community not only benefits you but contributes to creating sustainable living environments for all.
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