The Real Deal Miami

Related’s affordable housing division receives $60 million in tax credits

June 22, 2012 09:00AM

Related Urban, the Related Group’s affordable housing division, has obtained more than $60 million in funding through tax credits from the Florida Housing Finance Corporation. The money will target the redevelopment of four sites: Dante Fascell, Joe Moretti, Stirrup Plaza and South Miami Plaza, which serve extremely low-income seniors. They are all located in Miami-Dade County and total 464 units. “This funding provides an incredible opportunity to upgrade our properties and incorporate creative and sustainable design solutions that will immeasurably improve the quality of life for our public housing residents.” Related Urban said it has plans for an additional 1,800 elderly public housing units. — Alexander Britell