Three developers aiming to bring 1,600 new multifamily units to Miami—including a number of workforce apartments via the Live Local Act—are advancing to a city project review board.
Namdar Group and Helm Equities have each filed proposals under the Live Local Act, while Crescent Heights is seeking to expand its presence in Edgewater. These projects are set to be reviewed by Miami’s Urban Development Review Board on Wednesday.
Despite a persistent supply overhang that has affected South Florida in the past two years—driven by record numbers of new completions and a drop in newcomers—the proposals reflect ongoing confidence in Miami’s rental market. This oversupply has led to slower lease-ups and greater concessions, raising questions about how the large development pipeline will perform once completed.
Developers, however, maintain that demand will rebound by the time their towers are finished, emphasizing their careful selection of submarkets to avoid oversaturation.
Here’s a closer look at what the board will review this week.
Namdar’s second Magic City bet
The largest proposal on the agenda comes from Great Neck, New York-based Namdar Group, which plans a 42-story Live Local Act tower featuring 1,011 units in Brickell. This would be Namdar’s second multifamily development in Miami.
Designed by Behar Font & Partners, the tower will set aside 405 apartments for households earning up to 120 percent of the area median income, satisfying the Live Local Act’s requirement that at least 40 percent of the units be offered at workforce or affordable rents.
The project would rise on a vacant 1.03-acre parcel at 250 and 296 Southwest Seventh Street.
Namdar, led by Ephraim and Joel Namdar, is requesting approval for 599 micro-units, which under city code would range between 275 and 400 square feet each.
The Live Local Act, a state law enacted in 2023 and updated over the past two years, allows developers to build to the highest density permitted in a jurisdiction and up to the tallest height within a mile, as long as 40 percent of units are reserved for households making up to 120 percent of the area median income (AMI) or less.
Namdar’s proposal does not fully maximize the development potential allowed by the law; the site could accommodate up to 48 stories and 1,030 units, according to the firm’s application.
Baywood Hotels is listed as the owner of the site, according to public records.
Elsewhere in Brickell, Namdar is also building a pair of multifamily towers totaling 1,400 units. Phase I, a 43-story, 680-unit tower at 55 Northeast Second Street, is expected to be completed early next year. In September, Namdar broke ground on Phase II, a 43-story, 714-unit tower at 50 Northeast Third Street, slated for completion in 2028.
Helm plans workforce rentals in luxury district
Helm Equities, affiliated with New York-based JEMB Realty, has revised its plans for a Live Local Act project in the Miami Design District.
The district—primarily developed by Miami Design District Associates—is recognized as Miami’s premier destination for luxury retailers.
Helm is proposing a 36-story, 278-unit multifamily tower, along with an adjacent eight-story building offering approximately 101,400 square feet of office space, per its application.
Designed by Cube 3, the project will also feature over 56,400 square feet of retail, a 613-space underground garage, 6,200 square feet of open space, and 13,700 square feet of civic space.
The development is planned for the 1.9-acre property at 220 Northeast 43rd Street, which Helm has owned since 2014. The proposal has evolved several times, including a previous plan for a six-story, 80,000-square-foot office building; its latest iteration also qualifies as a Live Local Act project.
The Gindhi family is listed as a limited partner in this development.
Crescent’s big bet on Edgewater
Crescent Heights is moving forward with plans to further develop its nine-acre holdings in Miami’s Edgewater neighborhood.
The Miami-based company, led by Sonny Kahn, Russell Galbut, and Bruce Menin, is proposing a 42-story, 360-unit multifamily tower along with a neighboring six-story commercial building that will include retail and office space. The site at 200 Northeast 30th Street sits adjacent to Crescent’s existing 40-story, 588-unit Forma apartment tower, which was completed in 2024.
Forma offers one- and two-bedroom apartments, with rents ranging from $3,565 to $7,515 per month, according to the property’s website. As of October, the building was 97 percent leased, according to Galbut.
The new project, designed by Arquitectonica, is conceived as the second phase of Forma. Plans call for two pedestrian bridges linking the new 42-story tower to both the existing Forma building and the six-story commercial structure.
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