The Real Deal Miami

Posts Tagged ‘affordable housing’

  • From TRD New York: Two years ago, Sears‘ former headquarters were a mix of dilapidated and abandoned buildings.

    Today, those buildings are a growing community hub. This 55-acre complex, formerly the main offices of Sears, Roebuck and Co., is now home to a mix of affordable housing units, community centers, and a high school. [more]

  • Don’t read too much into Trump’s proposed cuts to HUD funding, Carson says

    $1.5M grant used to build complex that Carson toured would be eliminated under Trump's budget
    April 14, 2017 03:10PM

    Miami-Dade Mayor Carlos Gimenez, developer Jorge Perez and HUD Secretary Ben Carson during Carson’s visit to Miami (Credit: Getty Images)

    On his two-day tour of Miami, Housing and Urban Development Secretary Ben Carson advised against reading too much into the president’s proposed budget – especially cuts to housing and development funds.  [more]

  • Ben Carson gets stuck in an elevator during visit to affordable housing complex in Miami

    HUD secretary is on a two-day tour of Miami
    April 12, 2017 01:00PM

    Ben Carson visits the Colllins Park apartment complex in Allapattah on Wednesday (Credit: Getty Images)

    Housing and Urban Development Secretary Ben Carson got stuck – literally – in an affordable housing development in Miami on Wednesday.  [more]

  • Miamians spend up to 58% of income on rent in minority neighborhoods: report

    Miami renters shell out about 22% of incomes if living in a white neighborhood
    March 31, 2017 12:20PM

    Aerial view of Miami

    In Miami, residents can expect to spend more of their paychecks on rent if they live in a mostly black or Hispanic neighborhood than if they live in a predominantly white neighborhood, according to a new report. [more]

  • Affordable housing stock in Miami-Dade is shrinking: panel

    Solutions include creating a community land bank, luring developers not yet active in SoFla
    March 30, 2017 04:00PM

    Downtown Miami (Credit Azeez Bakare Studios)

    Between 2000 and 2015, the number of single family homes in Wynwood rented by low- to middle-income households dropped from 38 percent to 20 percent, according a new report by the Urban Institute.

    The findings stress the need in Miami for more housing that a majority of city residents can afford, according to the report’s authors. [more]

  • Florida board recommends two-year funding ban for affordable housing developer

    Pinnacle recently agreed to pay $5.2M back to the federal government
    March 27, 2017 01:00PM

    The Orchid Grove apartment complex in Homestead, one of four with inflated project costs.

    Miami-based Pinnacle Housing Group will likely be banned from applying for state funding for two years after prosecutors found the affordable housing developer was profiting from inflated costs.

    Florida Housing Finance Corporation’s board of directors on Friday recommended the two-year ban for Pinnacle, with most of the board calling a  five-year ban too severe. The state agency also said it would pursue a formal complaint against the developer, according to the Miami Herald. [more]

  • Trump’s proposed tax overhaul puts affordable housing in jeopardy

    Developers say some projects are already falling over
    March 22, 2017 12:05PM

    Donald Trump and the Ingersoll Senior Residences (Credit: Getty Images and Marvel Architects)

    From the New York website: President Trump’s proposed tax code changes — which could reduce the corporate tax rate from 35 percent to 15 percent — are slowing down private investment in affordable housing projects. [more]

  • Miami City Commission approves developer incentives for workforce housing

    Density bonuses go to projects that include units for workforce and affordable housing
    February 24, 2017 03:00PM

    Downtown Miami (Credit Azeez Bakare Studios)

    Residential developers in the city of Miami who set aside condos or apartments for working class stiffs will receive substantial increases in density for their projects. [more]

  • The affordable-housing crunch worsened last year. In the final quarter of last year, Americans spent the highest share of their incomes on mortgage payments since 2010, according Zillow. [more]

  • Forcing developers to build workforce and affordable housing is a bad idea, panelists say

    Panelists favor increasing density, offering incentives for developers and other measures
    February 03, 2017 01:30PM

    From left: Anthony Graziano, Michael Wohl and Andrew Frey

    When it comes to addressing the affordable housing crisis in Miami-Dade County, community land trusts, increasing surtax funding for workforce units, rent-to-own programs and expanding the density of multifamily properties are good ways to start tackling the problem.

    But forcing developers to set aside a small percentage of their projects to be sold or rented at affordable rates is a terrible idea, according to a trio of real estate professionals at a Greater Miami Chamber of Commerce panel discussion on Thursday. [more]