Miami is getting a boost in affordable housing options with the groundbreaking of Rainbow Village/Rhapsody Apartments, set to offer 310 residences across a range of sizes. The development, situated in the City of Miami, kicks off with an official event on June 5. The ceremony is expected to draw Miami-Dade County Mayor Daniella Levine Cava and other local officials. Offering amenities including a swimming pool, business center, and more, some much-needed relief looks to be on the way for income-qualifying residents.
According to Miami-Dade County's press release, the project's units will be varied: 30 studios, up to four-bedroom apartments, catering to families in different sizes. Alongside the residential options, 442 parking spaces will be available. A resort-style swimming pool and other communal spaces, including a theater room and a fire pit area, are designed to foster a sense of community among the residents, which is essential for a development of this scale.
Additional services will also be on offer to support the residents of Rainbow Village/Rhapsody, like resident check-ins and assistance with everyday tasks. Scheduled for completion in 2027, Rainbow Village intends to provide an inclusive environment for residents earning at or below various thresholds of the area median income (AMI), specifically 30%, 50%, 60%, 70%, and 80% AMI levels.
The County's contribution to this initiative includes a $500,000 grant and loans totaling over $6 million for the construction of the project. With affordable housing a pressing issue in Miami, Rainbow Village/Rhapsody stands as an initiative of substantial community value. Residents will also enjoy the convenience of on-site retail space, as detailed by the county's website.
The groundbreaking ceremony will feature key figures in Miami's housing sector, including Miami-Dade County Mayor Daniella Levine Cava, District 3 Commissioner Keon Hardemon, District 5 Commissioner Christine King, and Matthew Rieger, CEO of the Housing Trust Group. Planned for 10:30 a.m. on June 5. The location for this major step forward in addressing housing affordability is 2000 NW 3rd Avenue Miami, FL 33127.
