Miami-Dade County is set to initiate the Homestead Gardens Phase I Apartments project, a fresh affordable housing community that intends to renovate an aging complex in Homestead. This initiative, officially launching on April 28, is a collaboration between Miami-Dade County officials, including Mayor Daniella Levine Cava and Board of County Commission Vice Chairman Kionne L. McGhee, and the development firm DBC Procida, as reported by Miami-Dade County's news release. The groundbreaking ceremony marks the beginning of the construction process expected to culminate by the end of 2026, signaling progress in Miami-Dade's commitment to bridging the affordability gap in housing.
The project's first phase will introduce 162 residences divided equally between two housing options – the Rental Assistance Demonstration (RAD) program units designed to accommodate returning public housing residents and those qualifying individuals whose earnings are tethered at 30% and 50% of Miami-Dade County's Average Median Income (AMI) along the other half will serve as mixed-income affordable units, with a select 20 benefiting from additional Section 8 Project-Based Vouchers,as outlined in the original announcement. Homestead Gardens Phase I will not only feature a collection of amenities including a community room with a full kitchen, a gym, bike storage, a playground, and community gardens but will also be constructed with sustainable materials, striving for a NGBS Silver certification in green building.
The financing of this housing endeavor is a multi-sourced effort with $2 million coming from County Surtax funding and another $2 million from HOME Program funds provided by Miami-Dade County while the financial package also weaves in Low-Income Housing Tax Credit equity from the National Equity Fund, a construction loan from Bank of America, and Freddie Mac permanent financing secured through Greystone; each source playing a critical role in underpinning the development's viability, according to the county's announcement. This project signifies the initial stage of a broader plan, where Miami-Dade County alongside DBC Procida aims to revamp the whole 150-unit Homestead Gardens affordable public housing campus.
Those interested in witnessing the beginning of what is anticipated to become a significant stride in affordable housing can attend the groundbreaking event at 1501 SW 6 Street in Homestead, FL, where local leaders from both the city and county levels, including Mayor Daniella Levine Cava, Vice Chairman Kionne L. McGhee, Interim Director of Housing and Community Development Nathan Kogon, Homestead Mayor Steven D. Losner, and Homestead Councilwoman Jenifer N. Bailey, will convene to memorialize the occasion, as detailed by the county's news release.
