City of Miami Waiver Approved under Live Local Act for 109 units in Little Havana near NW 12th Ave & SW 1st Street, Miami, FL, minutes to UM Hospitals, Brickell/Downtown Miami, Gables, Grove, & MIA. Plans for 8 stories on 29,000 SF assemblage. Plans call for an Apartment mix of 38 market rate rentals & 71 Live-Local units at 120% of AMI. Waiver Approval as of 07/30/25. Covered Land Play receives $17,000/mo in rent currently. Renderings by MODIS Architects. Now approved, back on the market at $5.5 mm | $51,000/door land cost | $189/SF for the Land. Potential Seller Financing. See attached OM. Seller may be willing to hold for a longer closing depending upon negotiated terms. Seller willing entertain a Seller's Note of $2,250,000 at closing with a full priced deal for up to 18 months. Terms to be negotiated. Assemblage of 4-lots fronts both SW 1st & 2nd Streets. Proposed development details: 75,105 leasable SF/ 162,770 buildable SF proposed. 71 of 109 units to be entered into Live Local Program at 120% of AMI. Develop under an SB-102/328/Live Local program. Development may benefit from property tax reductions for up to 75% of annual property taxes; as well as up to 100% of credit for impact fees under amendments to City of Miami Chapter 33 Code. Covered Land Play generating $17,000/month rents. See attached updated OM for more information.