Florida Value Partners Files 302-Unit Live Local Act Project in Miami

• Florida Value Partners affiliate plans 302-unit residential project
• 40% workforce housing under Florida’s Live Local Act
• Will replace aging office building on 4.37-acre site

What the filing means for office-to-residential conversion

An affiliate of Florida Value Partners is moving to replace a 1990s office building with a two-tower residential project in Kendall. This reflects a growing trend across South Florida where outdated office assets are being redeveloped into housing, especially as demand shifts and incentives make conversions more attractive. The Live Local Act is a key driver here, giving developers financial and zoning advantages to pursue residential over office use.

What the unit mix means for demand and stability

The project will deliver 302 units, with about 40 percent designated as workforce housing for households earning between 60 and 140 percent of the area median income. This structure broadens the tenant base while maintaining economic feasibility. Workforce housing tends to deliver high occupancy and stable demand, particularly in suburban markets like Kendall. It also allows developers to access incentives while still capturing market-rate upside on the remaining units.

What the design and amenities mean for positioning

Designed by Corwil Architects, the project will feature two eight-story buildings connected by a shared amenity deck. Plans include a pool, fitness center, coworking space, retail, and structured parking. These features align with modern renter expectations and position the asset competitively against newer multifamily developments. The inclusion of retail also adds a secondary income stream while enhancing convenience for residents.

What the acquisition and site size mean for scale

The 4.37-acre site was acquired for $10 million in 2025, giving the developer a relatively low land basis for a project of this size. That cost basis, combined with Live Local incentives, improves the overall deal economics and supports a larger-scale development than zoning might otherwise allow. Construction will be handled by Coastland Residential, indicating the project is moving toward execution pending approvals.

What this means for Miami development trends

This project highlights a major shift in Miami. Developers are increasingly leveraging the Live Local Act to deliver workforce housing at scale while replacing underperforming assets. Submarkets like Kendall are seeing rising demand from residents seeking affordability relative to urban cores, making them prime targets for this type of development.