NY's Namdar Plans 1,011-Unit Live Local Tower in Brickell

Key Points

• Massive scale: 1,011 rental units in a prime Brickell location with 404 designated as workforce housing under Florida’s Live Local Act
• Live Local Act incentives: Enable higher density and height overrides in exchange for 40 percent of units capped for households earning up to 120 percent AMI
• Micro-unit focus: Hundreds of efficient studios and small apartments (335 to 772 square feet) appealing to young professionals in a high-demand urban core

What Makes 250 SW Brickell a Standout Development

Miami’s Brickell neighborhood continues to attract large-scale multifamily developments with the recent approval of 250 SW Brickell, a 42-story tower set to deliver more than 1,000 rental units. Developed by New York-based Namdar Group, this project uses state incentives to blend market-rate and workforce housing in one of South Florida’s most competitive rental markets. 

Project Overview

The tower at 250 SW 7th Street will feature 1,011 apartments ranging from studios to two-bedroom layouts, many in the micro-unit category for efficient urban living. Amenities include a ninth-floor pool, fitness center, dog park, and ground-level retail, supported by 260 parking spaces. Total build-out exceeds 771,000 square feet on a 1.03-acre site.

Maximizing Density With the Live Local Act

To secure density bonuses and zoning overrides, the developer committed 40 percent of units (404) to workforce housing. These are restricted to renters earning no more than 120 percent of Miami-Dade’s area median income, with rents capped accordingly. This state program has fueled similar high-density projects across Florida, allowing developers to maximize yields while addressing mid-tier affordability.

Brickell Rental Market at a Glance

Brickell remains a landlord-friendly submarket with average rents near $3,600 despite some cooling from new supply. Demand from finance professionals and international residents sustains occupancy, although oversupply in the luxury segment has softened certain pricing trends in 2025.

Investor Takeaways From This Brickell Approval

Projects like 250 SW Brickell highlight the value of Florida’s Live Local Act for unlocking underdeveloped sites in premium locations. The mandated workforce units provide regulated tenancy with lower vacancy risk, while the remaining 60 percent market-rate units capture Brickell’s premium pricing. In a market with persistent demand and emerging supply pressure, this mixed-model offers diversified cash flow and potential tax advantages for yield-focused multifamily investors.

What This Approval Signals for the Market

As Brickell adds more high-density rentals, savvy landlords and real estate investors should track Live Local Act pipeline projects for acquisition or partnership opportunities. The approval at 250 SW Brickell points to continued growth in workforce-focused developments that balance profitability with broader housing needs in Miami’s urban core.