An Aventura-area office and medical office property may be repositioned for residential development under Florida’s Live Local Act.

The Faith Group has submitted early plans to Miami-Dade County for The Gateway 2, a proposed 14-story apartment project at 2627 and 2691 Northeast 203rd Street in unincorporated Miami-Dade County. The 1.8-acre site is currently home to Aventura Offices and Medical Center, a two-story building with approximately 37,000 square feet of office and medical office space.

The project would use Florida’s Live Local Act, which allows qualifying residential developments to access certain zoning and approval benefits when at least 40 percent of the units are reserved for households earning up to 120 percent of area median income.

For the healthcare real estate market, the proposal is another example of how older medical office and professional office properties in dense South Florida corridors are being evaluated for higher-density uses. While demand for modern, well-located healthcare space remains strong, smaller or aging buildings in land-constrained areas may face increasing redevelopment pressure as housing demand and Live Local incentives continue to reshape property values.

Source: CRE-sources