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Overtown mixed-income apartment project scores zoning approval
Housing Trust Group is proposing 1,300-unit Rainbow Village on land owned by Miami-Dade County
A housing developer landed a key zoning approval to build an Overtown mixed-income project that will eventually have 1,300 affordable and workforce housing units.
The Miami City Commission on Thursday, without discussion, approved a zoning request allowing the first phase of Rainbow Village at 2000 Northwest Third Avenue to abut a single-family neighborhood.
The first phase entails a seven-story building with 310 apartments, of which 248 units are set aside for workforce housing and 31 units for affordable housing, according to the resolution adopted by city commissioners. The project would also have 13,000 square feet of retail and a day care center.
Housing Trust Group, a Coconut Grove-based multifamily developer led by Matthew and Randolph Reiger, plans to raze an existing 136-unit affordable housing apartment building on the site, which is owned by Miami-Dade County. Current residents would receive temporary housing during construction and would be the first tenants to move into the new proposed building, county records show.
In 2020, Miami-Dade awarded Housing Trust Group, or HTG, a ground lease to redevelop the 10.4-acre property after the company submitted a winning bid to develop 1,300 mixed-income apartments. The developer tapped Miami-based Zyscovich Architects to design Rainbow Village, which will also have a public magnet school, a 1.5-acre community park, community gardens and green rooftop terraces, and other community amenities.
HTG has filed for a building permit for the first phase of Rainbow Village, according to the firm’s website.
Formed in 2006, HTG develops multifamily projects, specializing in affordable housing units, across the Southeast. The firm recently broke ground on Mount Hermon Apartments, a $43.5 million senior housing building in Fort Lauderdale, according to an HTG press release.
In October, the Hollywood City Commission granted conditional approval for University Station, an eight-story affordable rental project HTG plans to build on a city-owned parking lot. City commissioners also approved a $2.4 million loan to help finance University Station’s construction.