The Real Deal Miami

Posts Tagged ‘affordable housing’

  • Housing Trust Group proposes South Dade rentals

    The Miami-based firm applied to Miami-Dade County to build 150 affordable apartments
    December 04, 2016 11:00AM
    Matthew Rieger

    Matthew Rieger

    Miami-based Housing Trust Group (HTG) proposed construction of an apartment complex with 150 units in southern Miami-Dade County.

    Matthew Rieger, chief executive officer of HTG, told the South Florida Business Journal that his company designed the project as an affordable rental development called Princeton Park.

    Rieger also told the newspaper that HTG plans to start construction in the April-June period next year if county officials approve the company’s application to build the Princeton Park apartment complex. [more]

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  • Related advances apartment project in Fort Lauderdale with below-market rents

    The Miami-based developer plans to build 150 apartments, mostly with below-market rents
    December 03, 2016 03:30PM
    600 North Andrews Avenue (Credit: Brittany Walman / Sun-Sentinel)

    600 North Andrews Avenue (Credit: Brittany Walman / Sun-Sentinel)

    Broward County endorsed a plan by Related Group and a partner to lease county land at Andrews Avenue and Sistrunk Boulevard and build apartments there, most of them with rents below market rates.

    County commissioners voted November 29 to negotiate a land lease agreement with Miami-based Related Group and a company called Flagler Warehouse 1, co-owned by Doug McCraw, founder of the Flagler Arts and Technology Village, or FATVillage. [more]

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  • Miami developer faces prison time for affordable housing scheme

    Sentencing guidelines for Greer's offense range from eight to 10 years
    December 01, 2016 09:45AM
    Overtown. Inset: Matthew Greer

    Overtown. Inset: Matthew Greer

    A member of Miami’s prominent Greer family apologized to a federal judge on Wednesday for his involvement in a major affordable housing scheme in Miami-Dade, as he awaits sentencing.  [more]

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  • New Jersey investor pays $14M for affordable housing complex in Cutler Bay

    American Federated invested about $1M into complex before selling
    November 02, 2016 09:45AM
    Cutlerwood Apartments (Inset: broker Tal Frydman)

    Cutlerwood Apartments (Inset: broker Tal Frydman)

    A company tied to New Jersey-based Asden Investment Properties paid $14 million for an affordable housing complex in Cutler Bay.  [more]

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  • Greystone lands $130M to rehab older Florida rentals

    Greystone Affordable Housing Initiatives LLC assembled the financing for Hallmark Companies
    October 23, 2016 11:00AM
    Hallmark Companies' McPine Apartments in Arcadia

    Hallmark Companies’ McPine Apartments in Arcadia (Source: Google)

    The affordable housing arm of Manhattan-based Greystone assembled $130 million of financing to rehabilitate 24 apartment properties in rural Florida, mostly in the central and northern regions of the state.

    A provider of recapitalization and rehabilitation services to owners of affordable housing, Greystone Affordable Housing Initiatives LLC assembled the $130 million financing package on behalf of Atlanta-based Hallmark Companies, the owner of the 1,058-unit portfolio of Florida apartments.

    The biggest component of the financing is proceeds from a $41.6 million tax-exempt bond issue by Osceola County, one of 12 Florida counties where Hallmark owns apartment buildings catering to low-income tenants. [more]

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  • There’s no single solution for lack of affordable housing

    Local governments could make building permit processes more efficient, panelists said
    October 20, 2016 01:30PM
    The Miami skyline (Credit: Gabriel Kaplan) and Matthew Ellish, Shekeria Brown and Stockton Williams

    The Miami skyline (Credit: Gabriel Kaplan) and Matthew Ellish, Shekeria Brown and Stockton Williams

    A complete set of public policies is more likely than a solitary solution to expand the availability of affordable housing, a director of the Urban Land Institute said during a panel presentation Wednesday in Miami. [more]

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  • HTG, Spectra to convert Palm Beach County apartments into affordable housing

    Majority of project's financing came from sale of federal tax credits
    October 05, 2016 03:00PM
    Rendering of the renovated Covenant Villas and Housing Trust Group President Matt Rieger)

    Rendering of the renovated Covenant Villas and Housing Trust Group President Matt Rieger)

    What was once a market-rate apartment community in Belle Glade, a small city in western Palm Beach County, is on the eve of being converted into affordable housing.

    Housing Trust Group and the Spectra Organization just announced they’ve closed on the financing necessary to launch their $22 million rehabilitation of the Covenant Villas. [more]

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  • Colliers South Florida expands, adds affordable housing arm

    Colliers also made two new hires for its urban core division in Broward County
    October 04, 2016 03:00PM
    Kevin Morris, Bradley Arendt and Michael Lewin

    Kevin Morris, Bradley Arendt and Michael Lewin

    As the demand for affordable housing continues to grow, Colliers International South Florida is launching a division dedicated to that niche market.  [more]

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  • La Vie Boheme no more, US housing data suggests

    Fewer renters and homeowners were cost-burdened in 2015 than previous years
    September 15, 2016 01:30PM
    (Credit: Terner Center/Jed Kolko)

    (Credit: Terner Center/Jed Kolko)

    From the New York websiteSunny days are ahead for middle-class American households.

    Fewer renters and homeowners were cost-burdened in 2015 than in previous years, according to an analysis of American Community Survey data cited by the Wall Street Journal.  [more]

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  • Former Carlisle CEO pleads guilty to $36M affordable housing fraud scheme

    14 affordable housing projects in Miami-Dade were involved
    September 13, 2016 01:48PM
    Lloyd Boggio's home at 3316 Devon Court in Coconut Grove. Inset: Boggio

    Lloyd Boggio’s home at 3316 Devon Court in Coconut Grove. Inset: Boggio

    A former CEO of Carlisle Development Group pleaded guilty to participating in a $36 million affordable housing fraud scheme. [more]

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