The Real Deal Miami

Fed agency OKs transfer of Miami-Dade projects

Troubled Carlisle seeks to hand over four affordable developments
December 06, 2013 12:00PM

Carlisle executives at Lincoln Gardens groundbreaking

Carlisle executives at Brownsville groundbreaking

Troubled affordable housing builder Carlisle Development Group has one layer of federal government approval to turn over two Miami-Dade County projects to another developer.

The Federal Transit Administration authorized a request to assign rental developments Northside Transit Village in northern Miami-Dade and Seventh Avenue Transit Village in Liberty City to Miami-based Atlantic|Pacific, the Miami Herald reported. Miami-Dade County officials sought FTA approval because the projects already received federal funding. It still needs a greenlight from the U.S. Department of Housing and Urban Development before the projects can be officially transferred.

Two additional developments, Island Living in Overtown and Lincoln Gardens in Brownsville, could also be turned over to Atlantic|Pacific.

Carlisle is being investigated for defrauding the federal government for allegedly jacking up construction costs to obtain increased tax credits. The investigation has made securing private financing extremely difficult for Carlisle. [Miami Herald]Eric Kalis