Miami-Dade County officials are marking the start of what promises to be a significant boost to the affordable housing market in South Dade with a groundbreaking ceremony slated for July 22 at the future site of the Hibiscus Grove development. Mayor Daniella Levine Cava and Miami-Dade County Commission Vice Chairman Kionne L. McGhee are scheduled to spearhead the event, which will celebrate the beginnings of a project aimed at tackling one of the county's most pressing issues: the lack of reasonably-priced homes for its workforce.
The development, according to Miami-Dade County's official release, will offer 270 units with a mix of one-, two-, and three-bedroom options. These units are strategically priced for households earning 30%, 60%, or 80% of the Area Median Income (AMI), attempting to address the gap in housing affordability, with a significant number of residents grappling with high rental costs. The inclusion of retail and community space is part of the development’s efforts to not just provide housing, but also to nourish a sense of community and accessible facilities for residents.
A glimpse at the project's funding reveals the use of both public and private financing to get off the ground. Hibiscus Grove's financial blueprint features a $5,000,000 contribution from the Miami-Dade County Housing and Community Development in the form of Documentary Stamp (Surtax) funding. The West Perrine Community Redevelopment Agency (CRA) has also backed the project with a $2,000,000 loan alongside $1,000,000 in Tax Increment Financing (TIF), highlighting a concerted effort from various branches of the local government to bring the vision of affordable housing to life, as detailed by the same press release.
Bringing the project to fruition involves numerous key figures and organizations, among them are Nathan Kogon, AICP, the Interim Director of Miami-Dade County Housing and Community Development, and Leviticus Gilliard, Chairman of the West Perrine CRA. On the development side, Integra Principal of Affordable Housing Division, Interurban, Jake Morrow plays a pivotal role. The ground-breaking event, set for 10:00 a.m., will take place at 9948 W. Hibiscus Street in Miami, FL 33157, marking a forward step in bolstering the supply of affordable homes in the area.
