Kushner’s Edgewater Collective Project to Include 130 Rent-Restricted Apartments

With rent prices up over 50 percent from a year ago, Miami is the poster child of a national affordability crisis. Miami is one of few major metropolitan cities in the nation that does not have rent price restrictions. In fact, the entire state of Florida prohibits local governments from imposing rent-control measures.

Kushner's three-tower Edgewater Collective project will provide some much-needed relief in exchange for a tax increment rebate from the Omni Community Redevelopment Agency (CRA). Of the total 1,299 total units comprising Edgewater Collective, 130, or roughly ten percent of the development will be rent-restricted "through 2030, or 2047 if the life of the CRA is extended through such date, at rents serving households earning not less than 60% AMI and not more than 100% of AMI". AMI stands for Average Median Income. Below is a breakdown of the 130 rent-restricted units:

Edgewater Collective will be located at 1900 and 2000 Biscayne Boulevard in Miami's Edgewater neighborhood and will include 18,500 square feet of ground-floor retail space.