Beacon Hill Property Group is preparing to break ground on what will be Miami-Dade’s first fully dedicated workforce housing project under the Live Local Act.
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The 112-unit development, called Beacon Hill at Princeton, is slated to break ground on June 6, with construction beginning in July and completion expected by the end of 2026, according to a release. The project comes as the latest round of Live Local Act amendments await the signature of Gov. Ron DeSantis.
“Beacon Hill at Princeton will provide high-quality housing for working families and represents our broader mission to develop 1,500 workforce housing units throughout Florida over the next five years,” Beacon Hill Property Group President Matthew Martinez said in a statement. “Everyone deserves a place they’re proud to call home, and we’re committed to making that a reality.”
Beacon Hill, led by Martinez and David Rothenstein, is set to rise at 23815 S. Dixie Highway in Homestead. The more than 100K SF project on almost 3 acres will include 1,120 SF of retail space that includes a gym as well as a community room and 145 parking spaces, according to public records.
The two three-story buildings are set to include 41 one-bedroom units and 71 two-bedroom units ranging between 621 SF and 914 SF, all of which will be dedicated to workforce housing, according to Beacon Hill's website.
Rents will range from $1,700 to $1,900 for one-bedroom units and $2,100 to $2,300 for two-bedrooms, The Real Deal reported. In comparison, the average overall rent for an apartment in Homestead is $2,005, according to an April report by RentCafe.
Beacon Hill purchased the parcel for almost $2M in 2022 and originally proposed 109 units divided between one- and three-bedroom units and 165 parking spaces, Florida YIMBY reported in 2023. At that time, Beacon Hill hoped to get approval under the county’s workforce housing program, ultimately qualifying for Live Local.
The Live Local Act, signed into law in 2023 and amended last May, provides increased tax breaks for income-restricted projects, reduced parking requirements and limits on local government control over zoning processes.
The law was designed to attack the affordable housing crisis in Florida by providing a 75% property tax exemption on units rented to those making up to 120% of the area median income and a 100% exemption for units at 80% AMI.
Two years in, the law is still working through its growing pains.
In Florida’s 2025 legislative session, two new bills were proposed to further strip power from local governments and boost tax breaks. Both passed through the House and the Senate, with stronger state preemption over local governments, reduced parking requirements, project area expansion, looser approval of historic district demolitions and other tweaks.
Miami-Dade approved its first Live Local project in April, a 236-unit, 21-story building at 5950 Sunset Drive developed by Miami-based Bindor, the South Florida Business Journal reported.
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