The In’s And Out’s Of The Wynwood Norte NRD-2 Public Benefits Program – Real Estate

Last year, the Miami City Commission approved a major zoning
overhaul for the portion of Wynwood lying north of NW 29th
Street — dubbed Wynwood Norte. We previously published an article highlighting some
of the new development opportunities created by the Wynwood Norte
Neighborhood Redevelopment District (the “NRD-2”).
The Wynwood Norte NRD-2 regulations, found in Appendix P to the
City of Miami’s Zoning Code (“Miami 21”), include,
among others, a robust Public Benefits Program.

The intent of the Wynwood Norte NRD-2 Public Benefits Program
permits bonus Building Height in exchange for contributions to
specific programs that provide benefits to the public within the
NRD-2 boundaries. These public benefits include:
Affordable/Workforce Housing, Public Parks and Open Space, Civic or
Civil Support Uses, Micro-Retail/Startup Space, and monetary
contributions to the Wynwood Public Benefits Trust Fund. The
Wynwood Norte Public Benefits Program supersedes the Public Benefits
Program generally applicable under Miami 21. Additionally,
Miami 21’s Affordable and Attainable Mixed Income Housing
Special Benefit Program is still applicable within the NRD-2.

Some of the main principles of the Wynwood Norte Public Benefit
Program are delineated below:

• For each square foot of Affordable/Workforce housing priced at
  or below eighty percent (80%) of the area median income, the
  development shall be allowed three (3) square feet of additional
  area up to the bonus Height and FLR and for each square foot of
  Affordable/Workforce housing priced above eighty percent (80%) area
  median income, the development shall be allowed an equivalent
  amount of development Floor Area up to the bonus Height and
  FLR




• For each square foot of dedicated Public Park or Open Space
  provided above that required in NRD-2, the Development shall be
  allowed an equivalent amount of Development Floor Area up to the
  bonus Height.




• For each square foot of Micro-retail/Startup Space, the
  Development shall be allowed three (3) times the Development Floor
  Area up to the bonus Height. – For a cash contribution to the
  Wynwood Norte Public Benefits Trust Fund, the Development project
  shall be allowed additional Floor Area up to the bonus Height. The
  cash contribution shall be determined based on a percentage of the
  market value of the per square foot price being charged for units
  at projects within the market area. The cash contribution is
  adjusted on an annual basis to reflect market conditions.

As noted above, the benefits permit additional Floor Area up to
the designated bonus Height, which is in turn predicated upon the
underlying zoning transect. Two of the principal zoning transects
of Wynwood Norte are T5-O and T6-8. More particularly, the bonus
Height designations are as follows:

• T5-O properties have a five (5) Story maximum, but are eligible
  for a bonus to a total of eight (8) Stories. The first additional
  floor of Development Height is permitted only through the Public
  Benefits Program. Additional bonus Height may be achieved through
  the Public Benefits or through the Wynwood Norte TDR Program. We
  shall detail the Wynwood Norte TDR Program in a subsequent
  publication.




• T6-8 properties have an eight (8) Story maximum, but are
  eligible for a bonus up to a total of twelve (12) Stories. The
  first half of Bonus Development FLR is only permitted through the
  Wynwood Norte Public Benefits Program. Additional bonus Height may
  be achieved through the Wynwood Norte Public Benefits Program, or
  through the Wynwood Norte TDR Program. We shall detail the Wynwood
  Norte TDR Program in a subsequent publication.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.