Infinity Real Estate Proposes 28-Story Rental in Miami’s Little River – Commercial Observer
Infinity Collective, alongside MVW Partners, has proposed a 28-story rental tower in Miami’s Little River neighborhood, using the Live Local Act.
The 693,203-square-foot development at 8038 NE Second Avenue would feature 454 units, about 19,900 square feet of commercial space on the ground floor, and an eight-story parking structure.
In accordance with the Florida law, which passed last year, 40 percent of the units will be set aside for those earning no more than 120 percent of the area’s median income.
While the law allows developers to build up to the maximum height within a one-mile radius — in this case, up to 48 stories — Infinity Collective is only plans to build 28 stories, according to the proposal that the Miami Urban Development Review Board will hear Wednesday.
“We strived to find an appropriate balance of utilizing the benefits of Live Local to produce a substantial amount of workforce housing while also ensuring the product is still in character with the neighborhood,” Infinity Collective partner David Berg wrote in an email to Commercial Observer.
The New York-based developer purchased the 2.2-acre site, which sits just south of the restaurant corridor that’s home to Tran An, Off Site Nano Brewery and Pastamarket, for $13.4 million in 2022, according to property records.
The lawyer representing Infinity Collective, Ian G. Bacheikov of Akerman, did not immediately respond to a request for comment.
Developers have used the Live Local Acts to launch massive projects. Just over a month ago, a developer named Pablo Castro proposed building 3,233 units across six buildings in Miami’s West Little River neighborhood.
Others have used the new law to push the boundary of height. In Wynwood, where buildings have been capped at 12 stories, Hidrock Properties and Robert Finvarb Companies together filed plans to build a 39-story building with 336 rentals.
Update: The story was amended to include MVW Partners’ involvement and clarify the density of the project.
Julia Echikson can be reached at [email protected].
