- Beacon Hill at Princeton is the first 100% workforce housing project in Miami-Dade County to launch under Florida’s Live Local Act.
- The 112-unit development, led by Beacon Hill Property Group, will feature rents below local market averages and is slated for completion by the end of 2026.
- The project underscores the growing impact of the Live Local Act, which offers tax incentives and relaxed zoning rules to encourage affordable housing construction.
Breaking New Ground in Workforce Housing
According to Bisnow, Beacon Hill Property Group is preparing to launch a first-of-its-kind housing project in Miami-Dade. The 112-unit Beacon Hill at Princeton will be entirely dedicated to workforce housing. Beacon Hill Property Group will break ground on June 6, begin construction in July, and complete the project by the end of 2026.
Project Features and Details
The development is located at 23815 S. Dixie Highway in Homestead. It will span nearly 3 acres and include over 100,000 SF of built space. The two three-story buildings will feature 41 one-bedroom and 71 two-bedroom units. The units will range in size from 621 to 914 SF.
Additionally, the property will include 1,120 SF of retail space, a gym, a community room, and 145 parking spaces.
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Affordability in Focus
Rents will range from $1,700 to $1,900 for one-bedroom units. Two-bedrooms will lease between $2,100 and $2,300. By comparison, RentCafe reported in April that the average rent in Homestead is $2,005.
Because of these prices, the workforce housing project aims to serve working families who are often priced out of new developments. Beacon Hill purchased the site in 2022 for nearly $2M. The initial plan included 109 units and more parking. However, the current version was redesigned to align with Live Local Act incentives.
How the Live Local Act Supports Development
Florida’s Live Local Act was signed into law in 2023. It offers tax breaks, zoning flexibility, and reduced parking requirements for income-restricted housing projects.
Under the law, units rented to residents earning up to 120% of the area median income (AMI) qualify for a 75% property tax exemption. Developers qualify for a 100% exemption when they lease units to residents earning up to 80% of the AMI. As a result, the law has become a strong incentive for developers like Beacon Hill.
However, the program is still evolving. During the 2025 legislative session, lawmakers approved amendments that further limit local control. These updates include relaxed parking rules, easier demolition of historic buildings, and broader project zones.
Momentum is Building
This project is Miami-Dade’s second Live Local development. The first, a 236-unit tower at 5950 Sunset Drive, was approved in April. That project is being led by Miami-based Bindor.
Going forward, Beacon Hill’s president Matthew Martinez says the firm aims to build 1,500 workforce units across Florida. “Everyone deserves a place they’re proud to call home,” Martinez said in a statement.
Why It Matters
Workforce housing remains in short supply across South Florida. By using tools like the Live Local Act, developers can build more affordably and more quickly. If successful, Beacon Hill at Princeton could set a new standard for how public policy and private development can work together to meet housing needs.
