Developers Planning a Mixed-Use Project Incorporating Aventura’s Hero Housing

Developers Related Group and BH Group are the first developers that will build a project incorporating the Hero Housing provision recently passed by the City of Aventura. The measure offers reduced rents for first responders and teachers so that they can live near where they work. By agreeing to the rent reductions, the developers were granted an increase in density by the city. The developers have also pledged to dedicate 10,000 square feet of storage space in the new parking garage for use by the city, pay $1 million to the city to offset the impacts of the development and pay $125,000 a year for 10 years for the city’s on-demand vehicle service. Icon Aventura, on the site of Aventura View, a 10-story office building spanning 107,000, is a planned mixed-use development. Plans include renovating the existing office building along with the construction a 26-story tower next to Aventura View that will include 275 condominiums, 20 Hero Housing apartments and 12,000 square feet of retail on the ground level of the new 10-story parking garage.

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