HomeMy WebLinkAboutExhibit BNRINVESTMENTS
1600 NE 151 Ave, Suite 3800
Miami, FL 33132
(305) 625 0949
W W W.N RIN V E STMENTS.COM
TO:
Arthur Noriega
City Manager
City of Miami
3500 Pan American Drive
Miami, FL 33133
FROM:
Nir Shoshani
NR Investments
1600 NE 1st Ave, Suite 3800
Miami, FL 33132
October 16, 2025
Re: Proposal for the Development of City -Owned Land at 1340 SW 8th Street and 825 SW
13th Court (Little Havana)
Introduction and Overview
Dear Mr. Noriega:
On behalf of NR Investments, we are pleased to submit this Proposal pursuant to Section 29-
B ("City -owned property sale or lease") of the City of Miami Code of Ordinances, for the
development of two City -owned parcels located at 1340 SW 8th Street (Folio No. 01-4111-013-
(1510) and 825 SW 13th Court (Folio No. 01-4111-013-0500), in the very heart of Little
Havana's Calle Ocho corridor. Because this project is intended to benefit persons and households
of low and moderate income, it qualifies under Section 29-B ("City -owned property sale or
lease"), Second Paragraph, Subsection (a).
This strategic location —at the confluence of culture, commerce, and community —presents
an unparalleled opportunity to create high -quality mixed -income housing that both honors
Little Havana's heritage and addresses Miami's most urgent civic challenge: housing
affordability.
The proposed 11-story mixed -use building will include approximately 114 residential units
totaling —72,325 square feet of rental area (-4 1 studios, ---52 one -bedrooms, —21 two -
bedrooms), —7,000 square feet of ground -floor retail, and three levels of parking
accommodating approximately 90 vehicles. This active frontage will catalyze neighborhood
vibrancy and provide new commercial opportunities for local businesses and
entrepreneurs, while the parking ensures convenience for residents and guests in this high -
traffic corridor.
The project's by -right zoning complies with Miami 21 and utilizes provisions of the Live Local
Act, which incentivize affordable and workforce housing in transit -oriented, mixed -use districts.
The site enjoys excellent access to Metrobus routes, the City trolley system, and the Calle Ocho
bicycle corridor, enabling residents to live sustainably and without car dependency.
The development features a robust affordability program serving both low-income
households and the "missing middle" workforce —those individuals and families who form the
backbone of Miami's economy yet are often excluded from conventional affordable housing
programs. These include teachers, police officers, nurses, firefighters, and service professionals
who are essential to the city's vitality but face rising rents that threaten their ability to remain
near their workplaces.
Affordability levels will be distributed as follows:
• z 15% at 60% AMI (low-income households)
• z 25% at 100% AMI
• z- 30% at 120% AMI (the "missing middle")
• balance at market rate
This mixed -income model allows residents to advance economically without being displaced
— to move up without having to move out — building lasting community stability and
diversity.
Upon the City successfully closing on the subject parcels from current ownership, NR
Investments respectfully seeks the City's subsequent conveyance of fee -simple title to the
property to facilitate the development. In exchange, the project will deliver approximately 80
affordable and workforce units, a high -quality mixed -use building, and significant public
benefit to one of Miami's most historic neighborhoods —directly addressing the City's pressing
housing affordability crisis.
This conveyance, together with moderate economic support from the City in the amount of
S4,000,000, will allow this iconic corner property to become the most important affordable and
workforce housing project in the city's historic Little Havana neighborhood, setting a standard
for high -quality attainable housing in Miami's urban core.
NR Investments — Experience and Track Record
For over two decades, NR Investments has demonstrated how thoughtful, design -driven
development can achieve measurable public outcomes through public -private partnerships
(PPPs). The firm's extensive experience includes collaborations with HUD, the City of Miami
and multiple other municipalities in Florida and nationally, Miami -Dade County, and
Community Redevelopment Agencies, utilizing tools such as HUD Section 221(d)(4)
financing, CRA grants and loans, Opportunity Zone and Live Local Act provisions, tax
credits, Surtax and TIF programs, among others.
NR Investments' guiding principle is affordability which does not compromise quality,
bringing dignity to the affordable and workforce housing experience. Its projects balance the
efficiency of private capital with the mission of civic development.
a. Arts + Entertainment District — Urban Revitalization Pioneers
NR Investments conceived and Ied the redevelopment of the Arts + Entertainment District
(A+E District) in the formerly neglected Omni area, transforming a once -derelict zone into a
thriving mixed -use neighborhood connecting Downtown, Wynwood, and Edgewater. Through
developments such as Filling Station Lofts (81 units) and CANVAS Condominium (513
units), NR reintroduced residential density and curated a strong sense of community. A multi-
year campaign of free public events including The Miami Flea, Rooftop Sessions, and Movies
Under the Stars —helped showcase local institutions, artists, and entrepreneurs, creating a
blueprint for cultural and economic revitalization.
b. UNI Tower — Setting a New Standard for Attainable Housing
Completed in 2024, UNI Tower redefined attainable housing in Miami's urban core.
• 28 stories, 252 fully income -restricted units focusing on the entire target income range
(60-140% AMI).
• Financed with HUD Section 221(d)(4), marking the first fully restricted high-rise in
the U.S. under this structure.
• —18,000 square feet of luxury amenities and common areas.
• Ground -floor and penthouse commercial/office space totaling 15,000 SF.
• U.S. Small Business Administration HUBZone location.
• Opportunity Zone tract.
• Recipient of the Florida Redevelopment Association's 2024 Outstanding New
Building Project — Large City award.
UNI Tower has been visited by former HUD Secretary Ben Carson and current Secretary Scott
Turner, who both commended the project's successful blending of federal and local resources.
With over 95% occupancy, UNI Tower demonstrates strong demand for mixed -income housing
designed with dignity and excellence.
c. UNI+DOS — Expanding the Model
Currently under permitting and expected to break ground in Q I of 2026, UNI+DOS builds
directly on UNI Tower's success with 398 fully restricted units ranging from 60-140% AMI, a
31-story design, and 8,500 square feet of retail. Supported by HUD, the Omni CRA, and
Miami -Dade County Surtax funding. UNI+DOS will extend the same ethos of inclusion,
offering larger apartments suitable for families while maintaining high design standards and
mixed -income attainability.
Together, UNI and UNI+DOS represent nearly 650 units of affordable and workforce housing
in Miami's downtown —unprecedented in both scale and ambition for the City.
d. Sky Building — A Public -Private Partnership for Civic Growth
In Oakland Park, NR partnered with the City to deliver Sky Building, a project that combines
136 workforce units (120-140% AMI), a new City Hall, and 16,000 square feet of retail and
civic space. Sky Building exemplifies the company's ability to align public facilities and private
housing into a single development that strengthens municipal infrastructure while providing
attainable homes.
e. NationaI Projects — Whitehall, OH and Greenville, SC
NR's national portfolio extends its mission to underserved communities across the U.S.:
• In Whitehall, Ohio, NR is leading a 50-acre, multi -phase Opportunity Zone
redevelopment, transforming one of the poorest ZIP codes in the state and country into a
vibrant mixed -use district with residential, retail, and civic uses.
• In Greenville, South Carolina, NR is developing hundreds of new residential units and
commercial space, driving economic revitalization at the iconic gateway to Downtown —
the heart of a growing metropolitan hub.
Across all these efforts, NR's projects have gained strong institutional support from the State
Attorney's Office, Public Defender's Office, Miami -Dade County Public Schools, United
Teachers of Dade, SEIU Local 1991 (Jackson Health System), the Miami Association of
Firefighters, and the Fraternal Order of Police, underscoring their role in allowing essential
public servants to live within the communities they serve: serving those that serve our
communities, in the way they deserve it.
Little Havana Project — Concept and Public Benefit
The proposed Little Havana project extends NR's proven mixed -income model to one of
Miami's most culturally significant neighborhoods. It is a by -right, Live Local Act -compatible
development designed to deliver affordability, quality, and architectural integrity consistent with
the area's history and scale.
Key features:
• 11 stories of residential and retail uses fronting Calle Ocho.
• 114 residential units (-41 studios, —52 one -bedrooms, —21 two -bedrooms; = 72,325
rentable SF total).
• 7,000 SF of active ground -floor, Calle Ocho-fronting retail space.
• 3 levels of structured parking (z-: 90 spaces).
• Mixed -income mix: 15% @ 60% AMI, 25% @ 100% AMI, 30% @ 120% AMI.
• By -right zoning; proximity to multiple public transit systems.
• Amenities comparable to market -rate properties that create a dignified and uplifting
environment for residents of all income levels.
• Design vocabulary inspired by Little Havana's architectural and cultural heritage.
By providing approximately 80 affordable and workforce units within a walkable urban
setting, the project will serve teachers, nurses, firefighters, police officers, and service
employees who are currently priced out of the area — groups whose housing needs are
central to Miami's economic and social health. In doing so, it answers the call for smart,
sustainable growth and provides more urgently needed affordable housing, furthering the
City's economy and social fabric.
Conclusion
The Little Havana proposal reflects NR Investments' long-standing commitment to projects
that merge design excellence with public purpose. Building on the success of UNI Tower,
UNI+DOS, Sky Building, and other PPPs, this project represents a continuation of the
company's mission to make housing attainable without compromising quality or dignity.
Through this partnership under Section 29-B ("City -owned property sale or lease"), Second
Paragraph, Subsection (a), NR Investments aims to deliver a landmark development that
celebrates Little Havana's identity while addressing one of Miami's most pressing needs:
affordable and workforce housing that sustains the City's people, its economy, and its
culture.
We would welcome the opportunity to meet with you and your team to discuss this proposal
further and look forward to collaborating with the City to bring this vision to life.
Respectfully, •
Nir Shoshani
Principal
NR Investments
1600 NE 1st Avenue, Suite 3800
Miami, FL 33132