Related Urban, county break ground on affordable housing community

Miami /
Apr.April 07, 2015 03:00 PM

Miami-Dade County and Related Urban broke ground on a public housing project in Miami today.

Stirrup Plaza II, a 68-unit community geared toward low-income seniors and the disabled, is the seventh public housing project developed between the county and Related Urban.

Stirrup Plaza II will be a five-story building at 3160 Mundy Street. Miami-Dade is leasing the property to Related Urban. Stirrup Plaza, built in 1977 for low-income seniors, will continue to operate.

All Stirrup Plaza II units will have one bedroom and one bathroom. Residents making 50 percent of the area median income and below can live in 15 of the units. The remaining 53 units will be set aside for residents making at least 60 percent of the area median income.

The U.S. Department of Housing and Urban Development recently expanded the Section 3 program in March, which expands job opportunities for low-income workers.

“We understand the importance of HUD’s Section 3 program. It is a program designed to provide low income individuals access to higher paying jobs, therefore improving their quality of life. It is our responsibility to always try to improve the lives of the residents in the communities that we build in,” Alberto Milo, Jr., Related Urban’s senior vice president and principal, said in a statement.

The city of Miami awarded $2.3 million in federal funding to the building, the county awarded $3.4 million in surtax funding, and the project received $5.2 million in tax credits from the State. The project is scheduled for completion in September 2016.

In March, Related Urban completed a 34-unit affordable housing complex in Miami’s Shenandoah neighborhood. — Katherine Kallergis


Related Articles

arrow_forward_ios
Ron DeSantis and Peter Thiel (Illustration by The Real Deal with Getty)
Peter Thiel on Florida real estate: “becoming like California”
Peter Thiel on Florida real estate: “becoming like California”
Affiliated Development co-founder Nick Rojo along with 9445 Fontainebleau Boulevard in Miami (left) and the Bohemian apartment project in Lake Worth Beach (right) (Getty Images, Affiliated Development, Google Maps, MSA Architects)
“Slamming on the brakes”: South Florida’s record rent hikes slow
“Slamming on the brakes”: South Florida’s record rent hikes slow
Clockwise from top left: One Sotheby’s Jorge Uribe, Compass' Ida Schwartz, Fortune International Group's Edgardo Defortuna and Royal Palm Companies' Dan Kodsi (Illustration by Kevin Rebong for The Real Deal)
Slowdown hits South Florida’s hot resi market: Here’s what that means
Slowdown hits South Florida’s hot resi market: Here’s what that means
(Illustration by The Real Deal with Getty Images)
South Florida’s June resi sales drop by double digits
South Florida’s June resi sales drop by double digits
(iStock/Illustration by The Real Deal)
Miami again ranks as nation’s least affordable housing market, followed by LA, NY
Miami again ranks as nation’s least affordable housing market, followed by LA, NY
US HUD Secretary Marcia Fudge (Getty, iStock)
A heavy crown: HUD secretary declares Miami “epicenter” of nation’s housing crisis
A heavy crown: HUD secretary declares Miami “epicenter” of nation’s housing crisis
Residential sales fall in Southern Florida
Residential sales fall in April across South Florida
Residential sales fall in April across South Florida
10061 Southwest 60th Court in Pinecrest with Dr. Robert DerHagopian (Google Maps, Miami Cancer Institute)
Miami breast cancer surgeon Robert DerHagopian sells Pinecrest house for $6M
Miami breast cancer surgeon Robert DerHagopian sells Pinecrest house for $6M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...