out-of-state real estate investment firms. ABR Capital and East Capital Partners acquired two four-story office buildings and six industrial warehouses. The seller, an affiliate of Miami-based Cofe, paid $7.8 million for the 7.7-acre property in 2017.
The Live Local Act supersedes local governments’ zoning, density and height requirements for projects meeting specific affordable or workforce housing requirements, a controversial measure that some municipalities have opposed. Doral is among them.
Doral is moving forward with a six-month pause in development applications in response to the state’s passage of the Live Local Act, which gives residential developers extra building rights on land zoned commercial, industrial, or mixed-use if at least 40% of a project’s units are set aside for workforce or affordable housing.
As Doral braces for future high density projects under the state’s Live Local Act, the City may approve a six-month pause on new development applications. During that period, city officials will review and enact possible changes to the city’s comprehensive plan and zoning regulations.