Mixed-Income project, where the City of Miami has issued a warrant to build 10 units
The plans that were submitted to the City included 3 studios and 7 1/1 apartments.
There are no impact fees on the construction of the building as far as you keep it as an Attainable Mixed-Income project, which means you will have to assign one unit to Extreme Low Income (30% Area Median Income), 1 unit to Affordable Income (50% Area Median Income), and 8 units to Workforce (140% Area Median Income).
The lot size is 7,004 sq ft. It is located in a corner and very well connected to renowned areas.
It is the only property in the area where you can build 10 units (which will maximize your return).