Affordable Housing Project Breaks Ground in Downtown
The 257-unit tower at 101 Northwest North River Drive will bring income-restricted rentals to the city by 2028.
Updated on Oct. 15, 2026 in Apartments
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Renters in Downtown Miami will see 257 new affordable housing units added to the neighborhood as construction kicks off for the Gallery Lummus Parc development. Related Urban Development Group secured $129 million in financing to build the 27-story residential tower near the Lummus Park landmark.
Why it matters
This project delivers a significant boost to the local supply of income-restricted housing in one of the densest parts of the city. Because the site sits within a Rapid Transit Zone, developers were able to maximize density on the compact 0.7-acre parcel at 101 Northwest North River Drive.
The development team secured $129 million in total financing, including a $5 million loan from Miami-Dade County and $3 million from the City of Miami. Over 80 percent of the 257 units will feature rents tied to household income.
The players
Related Urban Development Group
The developer leading the construction of the new affordable housing project.
Miami-Dade County
The regional government providing $5 million in Documentary Surtax loan funding.
City of Miami
The municipal government providing a $3 million American Rescue Plan Act loan.
The details
The project is financed through a complex stack of public and private funds, including $80 million from Greystone Real Estate Capital and $27.1 million in Low-Income Housing Tax Credits. Residents should note that while construction begins this month, the tower is not expected to be move-in ready until late 2028. The site layout includes 27 stories of residential space supported by a five-level parking garage.
Timeline
Construction of Gallery Lummus Parc begins in October 2026.
Project construction is expected to conclude in October 2028.
Beyond the 305
The Gallery Lummus Parc project follows the land-use patterns established by the Miami-Dade County Rapid Transit Zone, which allows for increased density near public transit hubs. It represents a continuation of the local shift toward vertical affordable housing in urban corridors.
While the project will eventually provide hundreds of income-restricted homes, local neighbors should prepare for two years of construction activity near Northwest North River Drive. The units will eventually help address local rent pressures by tying costs to household income levels.
The takeaway
This development marks a significant move to bring more income-restricted living options into the urban core. Keep an eye on the 101 Northwest North River Drive site as heavy construction progresses over the next 24 months.
What happens next
Construction is set for completion in October 2028.
Further reading
For more on the current landscape of local housing developments, visit our Apartments section.
Source note: This article includes information reported by Commercial Observer.
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