A new Miami Beach apartment building that received public funds to offer discounted units to artists, teachers and first responders is charging near-market rate prices.

Why it matters: The Anamar at Collins Park — built on public land with the help of nearly $10 million in city funding — is charging $2,554 for one-bedroom units no larger than 513 square feet.

• The median asking rent for a one-bedroom apartment in Miami Beach is $2,675 but the median living area is 708 square feet, making the Anamar units more expensive per square foot, according to Miami Realtors data.

The big picture: The nonprofit developer Servitas set the rent prices in accordance with Florida Housing Finance Corporation rental limits for workforce housing, city spokesperson Melissa Berthier tells Axios.

• The county defines workforce housing as units reserved for those earning between 60% and 140% of the area median income (AMI), which is about $79,400.
• Miami Beach commissioners set the income cap at the Anamar at 120% AMI to "ensure financial viability," though it can be adjusted in later years, Berthier says.
• The Anamar's income limits are $95,400 for a single renter, $108,960 for a couple and $136,200 for a four-person household.

Even at the maximum income limit, a single tenant renting a one-bedroom apartment at the Anamar would be considered "cost burdened," with more than 30% of their income going to housing.

• The cheapest rent is $2,385 for studios between 413 and 486 square feet.

Context: A 2023 analysis published by Miami Homes for All found that Miami-Dade faces a shortage of over 90,000 affordable housing units for renters earning below 80% AMI.

• Above that range, the housing gap decreases to about 17,000 units.

What they're saying: Trenise Bryant, of the community land trust Struggle for Miami's Affordable and Sustainable Housing (SMASH), tells Axios that teachers and artists won't be able to afford living at the Anamar.

• Bryant, co-executive director of organizing and communications at SMASH, said the new project is essentially market-rate housing — out of reach to low- and medium-income earners.
• "If the government is going to fund workforce housing it's got to be real workforce housing, meaning real affordable to the people who are working," she added.

The other side: City spokesperson Melissa Berthier tells Axios the project is "expected to be attainable for the identified prioritized groups" while providing on-campus housing for Miami City Ballet students and a ground-floor cultural space for public or nonprofit use.

• The 80-unit project is expected to bring in about $120 million over the 50-year lease, with excess cash flow to be paid to the city after covering debt service, operating costs and reserves, Berthier said.
• The city contributed $4 million in cultural bond funds and a $5.85 million loan.

Angel Rivera, executive vice president at Servitas, tells Axios the Anamar is competitive compared to other area complexes that are "either much more expensive or much older."

• He said rents will be increased over time but "at a lower pace than the historic trends in Miami Beach."

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Seven years after the deadly school shooting at Marjory Stoneman Douglas High School, the Westchester Cultural Arts Center is debuting a new play that commemorates one of the victims.

• "Soul of a Swimmer," which depicts the life of champion high school swimmer Nicholas Dworet, opens Thursday and runs through the weekend.

The big picture: Based on a book of the same title, the play traces Dworet's life and Olympic dreams while highlighting the "urgent issue of gun violence and mental health" in society, per a news release.

If you go: The play is showing Thursday-Saturday, 8pm, and Sunday, 2pm. Tickets start at $10.

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The majority of Florida panthers deaths in 2024 — 30 out of 36 — were caused by vehicle strikes. It was the highest number of vehicle-related deaths recorded since 2016. (Sun Sentinel)

The Trump administration over the weekend ended Temporary Protected Status for more than 300,000 Venezuelans in the country, potentially setting them up for deportation. (Miami Herald)

• Florida has the largest number of TPS beneficiaries, with nearly 358,000 people. Nearly 60% are Venezuelan.

A larger share of Miami-area rental listings in 2024 offered concessions — like a free month of rent, waived application and pet fees, free parking, utility discounts, or event gift cards, according to a new Zillow report.

Why it matters: Concessions may be a marketing tactic, but they also help ease renters' financial burden.

The big picture: We can thank the multifamily construction boom for these deals, Zillow economist Kara Ng says. Renters have plenty of apartments to choose from, so property managers need ways to win them over.

What's next: These deals will likely dry up by December. In some instances, rents are already stabilizing after previous declines, Ng says.

• Permitting activity has slowed, meaning fewer new units will hit the market this year and beyond, she explains.

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👋 Martin here! I told y'all about how I saw Nikola Jović at Sagrado Cafe downtown, but the real showstopper of the afternoon was Sagrado's volcano carrot cake.

• Our server explained to us that every Brazilian grandmother has a special carrot cake recipe.
• Sagrado's comes with hot brigadeiro fudge and chocolate flakes.
• Our party of six split the medium ($32).

Five-word review: This counts as veggies, right?