Tulip Developments Group has received city approval for its 47-story residential tower planned in Miami’s Edgewater neighborhood. The project, located at 3350 Biscayne Boulevard and 234-264 NE 34th Street, will bring 499 rental units to the market, including a significant workforce housing component under Florida’s Live Local Act.
The newly released rendering showcases a slender, modern tower set to rise on a 0.8-acre site just north of Downtown Miami. The development will comprise 296 market-rate apartments and 203 workforce units, with 40 percent of residences reserved for households earning up to 120 percent of the area median income. Ground floor retail will span 5,555 square feet, activating the street level along Biscayne Boulevard.
The project was originally envisioned as a mixed-use high-rise but was redesigned to take full advantage of the Live Local Act’s zoning incentives, which encourage density in exchange for affordable housing. According to Tulip Developments, the revised plan reflects Miami’s growing demand for attainable rental housing while creating long-term value for investors.
“This approval is a direct result of our strategic approach to value creation,” said Ofir Gabriel, partner at Tulip Developments. “By leveraging the Live Local Act, we’ve unlocked significant development potential while aligning with Miami’s housing goals. It’s a win for the city, for future residents, and for our investors.”
Tulip Developments is marketing the property with Michael D. Hinton, CCIM of Lee & Associates – South Florida. The site has already drawn multiple offers, underscoring investor confidence in the Edgewater neighborhood, which continues to see high-rise residential growth.
The development team includes Karl-Ulrich Ansorg of Berlin-based AnsorgDevelopment, Yakov Elbaz of Royal Tulip Group, Ofir Gabriel of goTRG, and South Florida homebuilder Amit Kort.
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Somehow for a LLA project, it looks better than most box towers along the bay. I wish the base was less jumbled, and more orderly not to overpower the adjacent historic apartment house, however.
That strange looking stuff on the roof won’t age well, the building would be better without it.