M
iami-Dade County is set to witness the construction of a new residential complex as Coastland Residential has announced its plan to build a 371-unit multifamily project with workforce housing in the vicinity of Tropical Park. The developers are betting on below-market apartments as they continue to see high demand for affordable housing in the region.

    Pinecrest-based Coastland Residential has filed an application with Miami-Dade last month to build an eight-story building with 7,500 square feet of retail space at 4201, 4321, 4351, and 4383 Southwest 75th Avenue in an unincorporated area of the county. The site is located in the Glenvar Heights neighborhood.

    Coastland has acquired the 5-acre site for an undisclosed price. The property is currently home to several warehouses and is owned by Norle Properties Corporation and Leal Capital Trust 2, both of which are led by Jose and Leonardo Leal, according to records.

    Anthony Seijas, Coastland co-founder and president, revealed that 55 of the apartments will be designated for households earning no more than 120 percent of the area median income (AMI). Miami-Dade’s annual AMI is $79,400, according to the Florida Housing Finance Corporation.

    Coastland is seeking administrative site plan approval from the county for the project, which is part of a two-phase multifamily development plan. The firm intends to build approximately 780 units in total, although this number may change as designs are modified. The second phase will be constructed on the site of warehouses immediately south of the first phase’s development site.

    The area is undergoing a transformation into a live-work-play neighborhood with an industrial feel reminiscent of Miami’s Wynwood neighborhood in its early stages of redevelopment. Wynwood, originally a garment district, was redeveloped about a decade ago and is now internationally known for its industrial feel, art galleries, and graffiti. It’s currently experiencing a second wave of redevelopment, which promises to transform the traditionally low-rise and mid-rise neighborhood with new high-rises.

    Coastland, led by Seijas and co-founder and principal Alejandro Rodriguez, is a real estate investment and development firm with a portfolio of over 5,000 multifamily units. Last year, Coastland invested $38 million in the 7.8-acre development site at 1556 Northwest 110th Street in Doral for a 10-story, 690-unit apartment project.

    South Florida developers have been seizing on the high demand for below-market rate units in the region. The tri-county area has long struggled with a lack of affordable housing, which was exacerbated by an influx of out-of-staters and resulting record rent growth from 2020 to 2022.

    In Miami-Dade, the Pérez family’s Related Group’s affordable housing division is planning a 12-story, 316-unit public housing building at 860, 930, and 950 Northwest 95th Street in West Little River.