July 2024 Edition
The Ledger is your source for the latest updates, stories, and insights on the Live Local Act (LLA) and its profound impact on affordable housing across Florida. Every month, we delve into the transformative projects, legislative updates and community voices that are shaping the future of housing for Florida’s workforce.
Stay informed with in-depth features on innovative developments, learn about implementation strategies of leading municipalities and explore the dynamic conversations within communities about urban planning and housing initiatives.
The Ledger is more than just a newsletter—it’s your gateway to understanding how policy and practice converge to create a more inclusive and affordable housing landscape in Florida.
Spotlight:
1. Wynwood’s Skyline Shifts with Live Local Act Proposals
Developers are capitalizing on the LLA to propose five transformative high-rise apartment projects in Wynwood, Miami. These developments, ranging from 18 to 48 stories, promise to redefine the neighborhood's skyline, traditionally capped at 12 stories.
Key Projects:
Hidrock Properties: Plans a 39-story, 336-unit tower at 2534 North Miami Avenue.
Miami Court Holdings: Proposes a 19-story, 401-unit tower at 2100 Northwest Miami Court.
Ultimate Equity: Plans a 25-story, 996-unit tower at Northwest Sixth Avenue and Northwest 26th Street.
Clara Homes: Aims for an 18 to 20-story building with about 150 apartments at 2601 Northwest Sixth Avenue.
Bazbaz Development: Proposes the tallest tower, a 48-story building with 544 units at multiple locations in Wynwood.
2. Miami-Dade’s Largest Live Local Act Proposal
In an unprecedented move under LLA, Miami-Dade County is set to witness its largest affordable housing project with the proposed Holland Park. Planned for an 11.7-acre site at 8400 Northwest 25th Avenue in West Little River, this ambitious development includes six towers, the tallest reaching 37 stories. Designed by Arquitectonica, the project will feature 3,233 residential units, extensive retail space, and two large garages. This transformative proposal highlights the significant potential of the LLA to reshape Miami-Dade’s housing landscape by providing substantial affordable housing and community amenities. Learn more about Holland Park’s visionary impact here.
Implementation Insights:
Revised Plans for Hollywood’s Oceanfront Redevelopment
Hollywood’s oceanfront redevelopment project has unveiled revised plans under the LLA, adding more residential units to meet the demand for affordable housing. The project, which aims to transform the beachfront area into a vibrant community hub, now includes additional residential options that cater to various income levels, enhancing the accessibility and diversity of the neighborhood. Read more about Hollywood’s updated plans and their impact on affordable housing here.
County Update:
Lake County and Winter Park Opt Out of LLA Property Tax Exemptions
Lake County and Winter Park have become the first local governments in Central Florida to opt-out of the LLA’s property tax exemptions for affordable housing developments. This decision, made without public discussion, is expected to influence other cities and counties to follow suit.
While the LLA aims to encourage affordable housing construction by offering tax incentives and easing zoning restrictions, these exemptions significantly reduce tax revenues for local governments. In response, the Florida Legislature allowed local governments to opt-out if they have a surplus of affordable housing units. This opt-out provision has created uncertainty for developers, impacting their ability to secure financing for new projects. Consequently, the decisions by Lake County and Winter Park may deter future affordable housing developments in these areas.
