NR Investments has broken ground on Uni+Dos, a 31-story multifamily tower planned at 1445 N. Miami Ave. in Miami’s Arts and Entertainment District. The project is designed as an income-restricted community and reflects an ongoing push to add workforce housing in a rapidly growing urban neighborhood.
At full buildout, Uni+Dos is slated to deliver 398 apartments reserved for residents earning between 60% and 140% of the area median income. The income band targets a wide range of working households, from lower-income renters to moderate-income professionals who have been increasingly priced out of many urban cores. Rents are expected to average between $1,302 and $2,700 per month, aligning the project firmly with the workforce segment rather than luxury offerings.
In addition to the residential component, plans call for 8,500 square feet of ground-floor commercial space. This space is expected to activate the street level and provide a mix of neighborhood-serving uses, reinforcing the district’s role as a live-work-play environment. The commercial element is a relatively modest share of the overall program, with the bulk of the project focused on adding new rental housing.
The capital stack for Uni+Dos totals approximately $190 million and is structured as layered financing that brings together federal and local sources. The largest portion of the funding is a $130 million loan from the U.S. Department of Housing and Urban Development, underscoring the role of federal support in advancing income-restricted multifamily development. Local participation comes from the Omni Community Redevelopment Agency, which has committed $27 million in grants and an additional $15 million in tax increment financing for the project.
These public and quasi-public funding commitments help bridge the gap between construction costs and the lower rents associated with income-restricted units. The structure illustrates how multiple layers of subsidy and credit support can be combined to make workforce housing projects financially feasible in high-demand urban districts. According to the project timeline provided, construction activity is scheduled to begin in April, following the groundbreaking. Uni+Dos will add a significant number of income-restricted units to Miami’s Arts and Entertainment District, alongside new commercial space at the base of the tower.
