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Developers Pivot: $32M Miami Site to Feature 499 Rentals

2/21/2025

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Summary

Story summary

In Miami's vibrant Edgewater, developers are putting a 0.8-acre site on the market for $32 million, abandoning plans for a 44-story tower. With Florida's Live Local Act in play, they envision a new 47-story building featuring 499 rental units, doubling their investment from the $16.5 million purchase in 2022.

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Story summary

In Miami's vibrant Edgewater, developers are putting a 0.8-acre site on the market for $32 million, abandoning plans for a 44-story tower. With Florida's Live Local Act in play, they envision a new 47-story building featuring 499 rental units, doubling their investment from the $16.5 million purchase in 2022.