BRICKELL VIEW TERRACE –PRE-DEVELOPMENT PHASE
OF THE NEW CONSTRUCTION OF 100 units of affordable low income rental housing. Co-developers
with Pinnacle Housing Group.
The proposed development consists of a high rise Tower containing
at least 100 residential affordable rental housing units; some market rate
units; a commercial center on the ground floor; and a multi level parking
facility. This development is located in
the heart of the Brickell area, directly across from the Brickell Metro Rail
Station. It is within walking distance
from all major Brickell area banking institutions, restaurants, major
supermarkets, schools, pharmacies, parks, and service centers. Additionally it
is within 1 mile from Downtown Miami and within 2 miles from the Port of Miami,
Jackson Memorial Hospital, and all other major employment centers. This
development will accomplish the following: Alleviate the overcrowded housing
conditions; alleviate the shortage of affordable low income rental housing; combat
community deterioration in the service area; serve poor and underprivileged
families and their youth; create new jobs, among other achievements.
Project Location: 110
SW 9th Street, including 936/940 SW 1st Ave, Miami,
Florida.
Construction Type: NEW
CONSTRUCTION -- High-Rise
Set Aside: 100 Affordable units
Unit Rental
Rates: As set by State of
Florida for very low income families Affordability: 100%
of the 100 units are set aside for very-low income persons, families, handicapped,
and elderly; earning below 60% of Dade County Median income.
Project Development timeline: Construction
of the Parking structure commencing in June 2013. Construction of the affordable
housing structure commencing by the end of 2013.
Role & Interest in Project: 30%
CO-Developer/CO-General Partner
Permanent
Financing & Subsidy: TAX
CREDITS, HOME, SURTAX, AND Latin Quarter Specialty Center - 45
Condominium Units and Community economic development center.
The residential component of this
project consists of 45 affordable housing units of one, two, and three bedroom
units. The community economic development center located on consists of 11,400
sq. ft., which operates outside cafes, souvenirs, art galleries, book store,
art collections, and other cultural activities featuring arts & crafts of
the Hispanic culture. This project
provides home ownership to 45 very low, low, and moderate income families. This
development has accomplished the following: Alleviated the overcrowded housing
conditions; alleviated the shortage of affordable home ownership housing;
combated the community deterioration in the immediate service area; served poor and underprivileged families and
their youth; served as an economic
engine and motivation toward community revitalization; created new jobs related to the construction and
retail industry.
Project Location: 1475
SW 8th Street, Miami, Florida
Construction Type: New
High-Rise Construction - Condominium
Total Development Costs: $10,888,517 Set Aside: 100%
affordable units (Total 45 units)
Unit Sales
Prices: 1 Bed/1 Bath: $101,000 2
Beds/2 Baths: $119,250 3
Beds/2 Baths: $125,000
Affordability: 14
units for very-low income families earning below 50% of Dade County Median
income, 25 units for low income families earning below 80% of Dade County
Median Income, and 5 moderate income families earning below 120% of Dade County
Median Income, and one exempt unit.
Served families with annual incomes as low as $20,000.
Project Completion and Closeout:
June 2006 to June 2008. (Punch
List & Remedial Work completion, Unit Closings & Condo Association
Transfer).
Property Management: July
2004 thru June 2008-Property Management services for the Latin Quarter
Residential Condominium and Community Center.
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General PartnerPermanent Financing & Subsidy: HOME, SURTAX, AND CONVENTIONAL LENDER
Casa Grande Phase I, Mixed-Use 80
Residential Condominium Units and Community
Center
The Casa Grande project consists of 80 Condominium units along
with a 5,000 sq. ft. Ground Floor Community Center. This development served low-income families
earning 80% of median or less. Located
directly across from the Brickell Metrorail Station. It is estimated that 100 full-time jobs were
created during the construction of the project. This development has accomplished the
following: Alleviated the overcrowded housing conditions; alleviated the
shortage of affordable homeownership housing; combated the community
deterioration in the immediate service area; served poor and underprivileged families and
their youth; served as an economic
engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 104
SW 9th Street, Miami, Fla.
Construction Type: New
Construction- High Rise Condo
Total Development Costs: $8,391,056
Set Aside: 100%
affordable units (80 units)
Affordability: Low
and very-low income families earning less than 80% of Dade County Median
income. Served families with annual
incomes as low as $11,000.
Project closeout: September
1999 to September 2001 (Punch List & Remedial Work completion, Unit
Closings & Condo Association Training and Transfer).
Property Management: September
1999 thru September 2001- Property Management services for the Residential
Condominium.
Unit Sales
Prices: 1 Bed/1 Bath: $62,990 and $70,000 2
Beds/2 Baths: $81,990 and $87,990 3 Beds/2 Baths: $92,000 and $97,660
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General Partner
Permanent
Financing & Subsidy: HOME,
SURTAX, AND CONVENTIONAL LENDER
Riverside Gardens Condominium
Townhouses (Phase I) - 10 units.
The Riverside Gardens Phase I Townhouse Development is a
multi-sites project located on 652 NW 2nd Street and 21 NW 9th Avenue. It
consists of 2 and 3 bedroom units for a total of ten (10) units. This
development served families earning 80% of median income or less. This
development has accomplished the following: Alleviated the overcrowded housing
conditions; alleviated the shortage of affordable homeownership housing;
combated the community deterioration in the immediate service area; served poor and underprivileged families and
their youth; served as an economic
engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 652 NW 2nd Street, Miami, Fla.
Construction Type: New Construction-
Townhomes
Total Development Costs: $915,852
Set Aside: 100%
affordable units (10)
Affordability: Low
and very-low income families earning less than 80% of Dade County Median
income. Served families with annual
incomes as low as $17,428.
Project closeout: 1997
to 1999 (Punch List, Unit Closings & Condo Association Training and
Transfer).
Property Management: 1996
to 1999- Property Management services for the Residential Condominium.
Unit Sales
Prices: 2 Beds/1.5 Baths:
$65,990
3
Beds/2 Baths: $75,000
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General Partner
Permanent
Financing & Subsidy: HOME,
SURTAX, AND CONVENTIONAL LENDER
Riverside Gardens Condominium Townhouses Phase II - 7 units.
The Riverside Gardens Phase II Townhouse Condominium Development
is a multi-sites project located on 126 NW South River Drive. It consists of 2
and 3 bedroom units for a total of seven (7) units. This development provided
homeownership to low and very-low income families. This development has accomplished
the following: Alleviated the overcrowded housing conditions; alleviated the
shortage of affordable homeownership housing; combated the community
deterioration in the immediate service area; served poor and underprivileged families and
their youth; served as an economic
engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 126
NW South River Drive, Miami, Fla.
Construction Type: New
Construction - Townhomes
Total Development Costs: $750,000
Set Aside: 100%
affordable units (7)
Affordability: Low
and very-low income families earning less than 80% of Dade County Median
income. Served families with annual
incomes as low as $11,000.
Project closeout: 1998
to 2000 (Punch List & Remedial Work completion, Unit Closings, Condominium
& Property Management & Condo Association Training and Transfer).
Property Management: 1998 to 2000- Property Management services for the
Residential Condominium.
Unit Sales
Prices: 2 Beds/1.5 Baths:
$65,990
3
Beds/2 Baths: $75,000
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General Partner
Permanent
Financing & Subsidy: HOME,
SURTAX, AND CONVENTIONAL LENDER
Riverside Gardens Condominium
Townhouses Phase III - 8 units.
The Riverside Gardens Phase II
Townhouse Condominium Development is a multi-sites project located on 140 NW
South River Drive. It consists of 2 and 3 bedroom units for a total of eight (8)
units. This development provided homeownership to low and very-low income
families. This development has accomplished the following: Alleviated the
overcrowded housing conditions; alleviated the shortage of affordable
homeownership housing; combated the community deterioration in the immediate service
area; served poor and underprivileged
families and their youth; served as an
economic engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 140
NW South River Drive, Miami, Fla.
Construction Type: New
Construction - Townhomes
Total Development Costs: $804,219
Set Aside: 100%
affordable units (8)
Affordability: Low
and very-low income families earning less than 80% of Dade County Median
income. Served families with annual
incomes as low as $11,332.
Project closeout: 1999
to 2000 (Punch List & Remedial Work completion, Unit Closings, Condominium
& Property Management & Condo Association Training and Transfer).
Property Management: 1999 to 2000- Property Management services for the
Residential Condominium.
Unit Sales
Prices: 2 Beds/1.5 Baths:
$65,990
3
Beds/2 Baths: $75,000
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General Partner
Permanent
Financing & Subsidy: HOME,
SURTAX, AND CONVENTIONAL LENDER
Sunrise Gardens Condominium - 12 units.
The project consists of 12 units distributed as follows: (4)
one-bedroom units and (8) two bedroom units located on 519 SW 2nd Street. This
project was developed and rented to very-low and low income families. In later years, the units were sold at affordable
pricing and creative financing to the low and very low income persons residing
on the property. This development has accomplished the following: Alleviated
the overcrowded housing conditions; alleviated the shortage of affordable
homeownership housing; combated the community deterioration in the immediate service
area; served poor and underprivileged
families and their youth; served as an
economic engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 519 SW 2nd Street, Miami, Fla.
Construction Type: New
Construction – Mid-rise
Total Development Costs: $862,352
Set Aside: 100%
affordable units (12)
Affordability: Low
and very-low income families earning less than 80% of Dade County Median
income. Served families with annual
incomes as low as $12,500.
Project closeout: 1996
to 1998 (Rental period)
1999 (Unit Closings & Condo Association Training and
Transfer).
Property Management: 1996 to 1999- Property Management services.
Unit Sales
Prices: 2 Bed/1 Bath: $45,000
2
Beds/1 Bath: $51,000
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General Partner
Permanent
Financing & Subsidy: HOME,
SURTAX, AND CONVENTIONAL LENDER
Rio Gardens Condominium Townhouses - 22 units.
The Rio Gardens Townhouse Development is a multi-sites project
located on SW 2nd Street and SW 3rd Street between 4th & 5th Avenues that
consists of six 2-bedroom units sixteen 3-bedroom units for a total of
twenty-two (22) units. This
development has accomplished the following: Alleviated the overcrowded housing
conditions; alleviated the shortage of affordable homeownership housing;
combated the community deterioration in the immediate service area; served poor and underprivileged families and
their youth; served as an economic
engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Construction Type: New
Townhomes 444 SW 2ND STREET, MIAMI
Total Development Costs: $1,882,860
Set Aside: 100%
affordable units (22)
Affordability: Low
and very-low income families earning less than 80% of Dade County Median
income. Served families with annual
incomes as low as $12,320.
Project closeout: 1995
to 1997 (Punch List & Remedial Work completion, Unit Closings & Condo
Association Training and Transfer).
Property Management: 1995 to 1998- Property Management services for the
Residential Condominium.
Unit Sales
Prices: 2 Bed/1 Bath: $59,990
3
Beds/1.5 Bath: $69,990
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General Partner
Permanent
Financing & Subsidy: HOME,
SURTAX, AND CONVENTIONAL LENDER
Rio Towers Rental Development (LIHTC), 82 Residential
units.
East Little Havana CDC secured Tax Credits in 1990 and completed
construction and occupancy in early 1992 for this development, which consisted
of new construction and rehab. Rio Towers is an 82-unit affordable elderly housing
rental project. This project obtained $4 million in Low Income Housing Tax Credits
for its financing and at least 40% of the units are set aside for the elderly
with 75% set aside for the elderly, disabled, SSI, and veterans. The remaining
percentage for of the units are set aside very low income tenants earning less
than 60% of Miami-Dade County median income.
This development has accomplished the following: Alleviated the
overcrowded housing conditions; alleviated the shortage of affordable
homeownership housing; combated the community deterioration in the immediate service
area; served poor and underprivileged individuals
& families and their youth; served
as an economic engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 905 S.W. 1st St,
Miami, Fla.
Construction Type: New
& Rehab Mid-Rise Elderly Rental
Total Development Costs: $4,727,000 in 1990
Set Aside: 100%
affordable rental units (82 Units)
Affordability: Low
and very-low income elderly, families, and individuals earning below 60% of
Dade County Median income. Serving
elderly, handicapped, veteran, and families with annual incomes as low as $7,200.
Affordability is restricted for Perpetuity for a 66 year period and Annual
Income Levels & Annual Rent Levels are restricted by the State of Florida.
Project closeout: Mid-1992
(Punch List & Remedial Work completion)
Property Management: 1992 to current date- Property Management services by
ELHCDC for 82 units of affordable low income rental housing financed through LIHTC.
Units lease-up and Property Management services commenced in April 1992 and has
continued uninterrupted and is still ongoing.
Units
Maximum Rates: Efficiency/1Bath: $581
1
Bed/1 Bath: $609
2
Beds/1 Bath: $725
Role & Interest in Project: 100%
Owner/Sole Developer/ELHCDC as Single member ownership
Permanent
Financing & Subsidy: TAX
CREDITS, HOME, SURTAX, AND CONVENTIONAL LENDER
Plaza Villas I and II Condominium Townhouses, 11 Units.
East Little Havana CDC successfully completed the development of
the Plaza Villas Townhouses, an 11 unit multi-site project. The 11 families
benefiting from this project were minorities and low-income families earning
80% of median or less. This development
has accomplished the following: Alleviated the overcrowded housing conditions;
alleviated the shortage of affordable homeownership housing; combated the
community deterioration in the immediate service area; served poor and underprivileged families and
their youth; served as an economic
engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 720 S.W. 2nd St. and 997 S.W. 6th St.,
Miami, Fla.
Construction Type: New
Construction - Townhouses
Total Development Costs: $802,251
Set Aside: 100%
affordable units (11)
Affordability: Low
and very-low income families earning less than 80% of Dade County Median
income. Served families with annual
incomes as low as $10,000.
Project closeout: 1990
to 1992 (Punch List & Remedial Work completion, Unit Closings & Condo
Association Training and Transfer).
Property Management: 1990 to 1992- Property Management services for the
Residential Condominium.
Role & Interest in Project: 100%
Owner/Sole Developer/Sole General Partner
Permanent
Financing & Subsidy: HOME,
SURTAX, AND CONVENTIONAL LENDER
Rio Plaza “South” Development, 57
Condominium Units
The Rio Plaza South Condominium consists of 57 units, a six story
tower. All of the 57 units benefited low-income families earning less than 80
percent of Dade County median income. This development has accomplished the
following: Alleviated the overcrowded housing conditions; alleviated the
shortage of affordable homeownership housing; combated the community
deterioration in the immediate service area; served poor and underprivileged families and
their youth; served as an economic
engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 546
S.W. 1st St, Miami Fla.
Construction Type: New
Construction-Hi-Rise Condominium
Total Development Costs: $3,000,000
Set Aside: 100%
affordable units (57)
Affordability: Low
and very-low income families earning 80% of Dade County Median income. Served families with annual incomes as low as
$10,000.
Project closeout: 1987
to 1990 (Punch List & Remedial Work completion, Unit Closings & Condo
Association Training and Transfer).
Property Management: 1987 to 1990- Property Management services for the
Residential Condominium.
Role & Interest in Project: 50%
Owner/CO-Developer/CO-General Partner
Permanent
Financing & Subsidy: CDBG,
SURTAX, AND CONVENTIONAL LENDER
Rio Plaza “North” Development, 57 Condominium Units
The Rio Plaza North Condominium is a mirror image of the Rio Plaza
South tower and consists of 57 units, a six story tower. All of the 57 units
benefited low-income families earning less than 80 percent of Dade County
median income. This development has accomplished the following: Alleviated the
overcrowded housing conditions; alleviated the shortage of affordable
homeownership housing; combated the community deterioration in the immediate service
area; served poor and underprivileged
families and their youth; served as an
economic engine and motivation toward community revitalization; created new jobs related to the construction;
among other accomplishments.
Project Location: 501
S.W. 1st St, Miami Fla.
Construction Type: New
Construction-Hi-Rise Condominium
Total Development Costs: $3,075,000
Set Aside: 100%
affordable units (57)
Affordability: Low
and very-low income families earning 80% of Dade County Median income. Served families with annual incomes as low as
$10,000.
Project closeout: 1988
to 1990 (Punch List & Remedial Work completion, Unit Closings & Condo
Association Training and Transfer).
Property Management: 1988 to 1990- Property Management services for the
Residential Condominium.
Role & Interest in Project: 50%
Owner/CO-Developer/CO-General Partner
Permanent
Financing & Subsidy: CDBG,
SURTAX, AND CONVENTIONAL LENDER
