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proposed 42-unit multifamily project in Ojus is part of South Florida's record-breaking apartment construction pipeline. Developer Jacobo and Fortuna Toledano, of Sunny Isles Beach, want to build an eight-story building on a 0.7-acre site at the intersection of the Florida East Coast Railway tracks and Northeast 206th Street in unincorporated Miami-Dade County. The project, called River Square, would feature 30 one-bedroom apartments and 12 two-bedroom units, along with 48 parking spots.

    The Toledanos are seeking a zoning change for the site, which they filed as a pre-application to gauge county staff's input before submitting an official proposal. South Florida's multifamily market experienced unprecedented demand from 2020 to 2022, prompting developers to build new projects. With 34,924 units under construction and a record 23,863 apartments expected to be completed by year-end, the region is seeing a slowdown in new resident arrivals and rent growth.

    Ojus has become an attractive location for developers. A married couple proposed an 11-story building with offices and commercial space in January, while RAM Realty Advisors and Pinnacle plan a 16-story, 334-unit building at West Dixie Highway. Mill Creek Residential is also developing the Modera Aventura project, which includes a 15-story, 420-unit apartment building under construction. The developer recently filed a proposal to downsize the second phase of the project from 15 stories and 420 units to eight stories and 251 units.