A very uniquely designed “shovel-ready” land development opportunity in Little Havana to build a 21-unit multifamily building is now available. This site can be operated in a traditional sense under City of Miami double density workforce program as apartments; 3 units 30% AMI, 2 units at 50% AMI, and 16 units at 140% AMI (average median income). It has a 100% parking exemption which reduces cost of construction to developers comparing alternate site in the area. 20 Units are oversized Studios (easily converted to 1 bedroom, 400-460 SF), and 1 one bedroom (500 SF). An alternative strategy, by paying deferred impact fees, motel/lodging use operators can get licensure to operate this for short-term rental.
