A
284-unit Live Local Act project is proposed near Miami International Airport, the latest in a string of applications under Florida's affordable housing law. Keystone Holdings Group, based in Miami, plans to build the 16-story Azul at Blue Lagoon building on a 1.2-acre site at 1200 Northwest 57th Avenue in unincorporated Miami-Dade County. The project will have a 266-space parking podium and include 26 studios, 180 one-bedroom units, 52 two-bedroom units, and 26 one-bedroom units with a den.

    At least 113 apartments will be available at affordable rents, meeting the Live Local Act's requirement of 40% below-market rate units. The apartments are designated for households earning no more than 120% of the area median income, which is $79,400 in Miami-Dade County. Keystone Holdings Group has asked for a pre-application meeting with county staff to discuss the project.

    Keystone, led by Miguel and Reinaldo Mouriz, as well as Enrique Puig, develops commercial real estate in South Florida. The company has completed several projects, including the 10,000-square-foot Keystone Shoppes at 190 Northwest 42nd Avenue in Miami, which it sold for $9.4 million in 2022.

    The Live Local Act incentivizes developers to include affordable housing by allowing them to build larger projects than zoning permits and offering property tax breaks. Other developers have filed proposals under the law, including Related Group's 14-story, 398-unit project at 750 Northwest 18th Terrace in Miami and Monceau Real Estate's 120-unit project at 26710 Southwest 144th Avenue in Naranja.