The 30-story tower will be one of Miami’s first high-rise development to take advantage of Florida’s Live Local Act, which provides developers economic incentives to include affordable housing in new projects.

Construction began in June, and developers ANF and Housing Trust Group plan to complete the $185 million mixed-use project by early 2027.

Saltgrass will offer luxury single-family homes on large homesites.

The milestone follows the recent sale of the Indigo’s penthouse for $14.5 million — the highest-priced transaction for a new development condo in Broward County.

The team has also secured construction permits for a 330-foot-tall building with an expected 100 residential units.

The 18-story building will feature 22 luxury residences and 56 hotel rooms preserved as part of the historic Versailles Hotel.

As part of condo purchases at One Twenty Brickell Residences, homebuyers receive a designated office suite on levels two through 12 of the property.

FAVO’s acquisition comes amid efforts by the Lauderhill-based company to diversify its portfolio of income-generating real estate.

Despite a slowdown in single-family construction activity, newly built homes are becoming increasingly accessible to American buyers, in terms of both availability and affordability. According to data from the New-Construction Insights report released by Realtor.com, in the second quarter

The River District project — now called Flow on the River — is zoned for about 1,900 residences on a 6.2-acre Brickell parcel. 

The moderately priced community offers four floor plans priced from $348,900. 

With an average price of $40 million, the project’s 37 “mansions in the sky” are currently the most expensive new-build residences on the market in Miami-Dade, according to backers. 

The downtown Miami condominium tower will eventually top out at 70 stories. 

The community is part of the Preserves at Park Trace master-planned community in Stuart. 

The community will offer 41 single-family homes and townhomes in the Heart of Boynton District. 

The 20-story, 36-condominium project is the world’s first yacht-branded residential tower, according to its developers.