MIAMI, FL (July 24, 2025) – Tulip Developments Group is proud to announce that its Edgewater development site has received approval from the City of Miami for a transformative 47-story residential tower under Florida’s Live Local Act. The project, located at 3350 Biscayne Boulevard and 234-264 NE 34th Street, will deliver 499 luxury and workforce housing rental units, reinforcing the city’s commitment to inclusive urban growth.

Originally envisioned as a mixed-use high-rise, the development has evolved to embrace the Live Local Act’s incentives, allowing for increased density and a more impactful residential offering. The project will dedicate 40% of its units to households earning up to 120% of the area median income, supporting Miami’s growing need for attainable housing. The project will have 296 market units and 203 workforce units and 5,555 sq ft of retail on the ground floor.

Tulip Developments has actively been marketing the site with Michael D Hinton, CCIM of Lee & Associates South Florida and has already received multiple offers, reflecting strong investor confidence in the location and vision. The assemblage spans 0.8 acres and sits in the heart of Edgewater, one of Miami’s most dynamic and rapidly evolving neighborhoods.

“This approval is a direct result of our strategic approach to value creation,” said Ofir Gabriel, partner at Tulip Developments. “By leveraging the Live Local Act, we’ve unlocked significant development potential while aligning with Miami’s housing goals. It’s a win for the city, for future residents, and for our investors.”

The development team includes international and local leaders in real estate: Karl-Ulrich Ansorg of Berlin-based Ansorg Development, Yakov Elbaz of Royal Tulip Group, Ofir Gabriel of goTRG, and Amit Kort, a luxury homebuilder in South Florida.

For more information on Lee & Associates South Florida’s recent transactions and available listings, visit www.leesouthflorida.com