The Miami-based CFH Group will open a new building at a Hialeah apartment complex in February.
CFH added 22 fully leased apartments to Meadowgreen Apartments, a now 141-unit community at 1955 West 54th Street. The new apartments are market-rate, while the existing 119 are Section 8 units, according to a press release.
The development and property management company has nearly 6,000 multifamily units and more than 500,000 square feet of commercial space in its portfolio throughout the southeast of Florida. CFH CEO Tom Cabrezo said in the release that the new apartments will provide affordable rates in a competitive market.
To qualify for the Section 8 units, residents are required to prove that a household’s income is less than 50 percent of the area median income. While there are a number of new affordable housing projects in South Florida, the area is in need of more, developers and experts said.
In December, former NBA player Alonzo Mourning and Housing Trust Group topped off the first phase of their affordable housing project in Miami’s Overtown neighborhood. The nearly $23 million project, Courtside Family Apartments, includes 84 units. And earlier this month, Pinnacle Housing Group opened Gibson Plaza, a senior housing and market-rate complex in Coconut Grove. – Katherine Kallergis