Voters approved a ballot measure that will pave the way for more dense development in North Miami Beach while also creating districts aimed at preserving historic structures, per The Real Deal.

Nearly 59 percent of voters approved the ballot measure, despite having rejected a similar measure just two years ago. The measure allows for increasing the maximum allowable square footage for buildings in the center of North Beach’s commercial corridor, a 10-block area near 71st Street.

The vote contrasted previous years when voters consistently rejected measures to allow more dense development. In 1997, a ballot measure was passed requiring voter approval for any increase in Floor Area Ratio or (FAR), the maximum density or allowable square footage of a structure.

The new regulations will allow for a FAR increase to 3.5 from the current 2.25 to 2.75 for the area between Collins and Dickens avenues to Indian Creek Drive between 68th and 72nd streets. With the increase, developers can now build a mixed-use “Town Center” district along 71st Street.

The measure also allows “historic” designation for Miami Modernist architecture (MiMo) neighborhoods, protecting them from large-scale demolition. Both initiatives were recommended in a master plan for the area developed by urban planning firm Dover Kohl & Partners.

Anticipating approval of the measure, investors and developers have already acquired properties in the area affected by the FAR increase. In March, Pacific Star Capital paid $24.6 million for City National Bank’s North Beach branch. The firm has proposed a 110,000-square-foot residential and retail project for the two-block area along 71st Street anchored by a high-end supermarket with apartments and parking.