LivWrk Proposes Nearly 1,400-Unit High-Rise in Wynwood Under Live Local Act

Key Points:

• New York-based developer LivWrk plans three 45-story towers with 1,363 apartments in Miami's Wynwood neighborhood.

• The project utilizes Florida's Live Local Act to achieve increased density.

• The development is located at 2400 N. Miami Ave., a site LivWrk assembled for $38.9 million.

LivWrk has filed plans for a significant residential development in Miami's Wynwood district, proposing three 45-story towers comprising nearly 1,400 apartments. This ambitious project leverages Florida's Live Local Act to attain higher density than typically permitted in the area.

Project Overview

• Location: 2400 N. Miami Ave., Wynwood, Miami

• Developer: LivWrk

• Proposal: Three 45-story towers totaling 1,363 residential units

• Land Acquisition: LivWrk assembled the 2.45-acre site through $38.9 million in transactions

Leveraging the Live Local Act

Florida's Live Local Act, enacted to encourage affordable housing development, allows for increased building heights and densities under certain conditions. LivWrk's proposal is among the first in Miami to utilize this legislation, aiming to deliver a high-density residential project in a rapidly evolving neighborhood.

Impact on Wynwood

Wynwood, traditionally known for its art scene and low-rise industrial buildings, has been undergoing significant transformation. The introduction of high-rise residential towers marks a new chapter in the neighborhood's evolution, potentially attracting a larger residential population and further commercial investment.

Broader Real Estate Trends

The use of the Live Local Act in this context reflects a growing trend among developers to seek legislative avenues for increasing project viability in urban areas. As housing demand continues to rise in South Florida, such legislative tools are becoming integral to meeting market needs.