The owner of Clevelander and Essex House in South Beach, Jesta Group, has filed plans for an 18-story tower in Miami Beach, permitted under Florida’s new affordable housing law, despite initial expectations for a 30-story building.
Criticized by local officials, the project is to be reviewed without public hearings as per the new state law, circumventing local zoning regulations on height and density. Jesta intends to create a 137-unit residential tower, with 55 units allocated for affordable housing and the rest for condo sales, along with a ground-floor restaurant.
Rents for the affordable housing component would be capped at 30 % of 120 % of the area median income. In Miami-Dade County, the AMI (area median income) is $74,700, which means the rent today would not be able to exceed $2,241 a month, remaining affordable for at least 30 years.
The move has prompted discussions in Miami Beach on the review process for similar projects under the Live Local Act, with other cities like Doral negotiating compromises with developers to manage building heights.
