Tucker Tower, the eighth collaboration with AM Affordable Housing, will deliver 120 affordable apartments to seniors in southern Miami-Dade County
Housing Trust Group (HTG), a leading multifamily developer, and AM Affordable Housing, a nonprofit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, are excited to announce the completion of Tucker Tower, a new $44 million affordable housing community for seniors aged 62 and older in the Perrine neighborhood of southern Miami-Dade County.
Tucker Tower, the eighth joint venture between HTG and AM Affordable Housing, will be exclusively available to income-qualifying residents, ensuring accessibility to those earning at or below 25, 30, and 60 percent of the area median income (AMI). With rents ranging from $463 to $1,359 per month, these rates are a notable contrast to the average rental prices in Miami-Dade County, which currently stand at $2,451.
The developer hosted a grand-opening ceremony with partners to commemorate the milestone on Monday, March 4th. The event recognized members of the building and design team along with individuals instrumental in making Tucker Tower a reality. Speakers included Alonzo Mourning, Director of AM Affordable Housing; Matthew A. Rieger, President and CEO of HTG; Miami-Dade County Mayor Daniella Levine-Cava; Director of Miami-Dade County Public Housing and Community Development Alex Ballina, and District 9 Commissioner Kionne L. McGhee.
“We are delighted to contribute to the expansion of high-quality, affordable housing in Perrine—a burgeoning working-class community in Miami-Dade County facing the challenges of rising rents due to the city's population surge and increased relocation south in search of attainable housing,” said Rieger. “Additionally, we look forward to fulfilling our commitment to addressing the pressing housing crisis for seniors, who represent one of the most financially vulnerable populations in Miami-Dade County, where housing affordability remains a significant concern for the majority.”
According to a recent study from the University of Florida, Miami-Dade County has a gap of more than 90,000 affordable and available units for renter households with incomes below 80% of the area median income. This gap is projected to grow to nearly 116,000 units by 2030 unless affordable units are added.
Located at 9940 W Hibiscus Street, Tucker Tower is an eight-story community offering a mix of one-, and two-bedroom units ranging from 601 square feet to 895 square feet. Six units are fully accessible units and three units are hearing impaired units. Amenities include a state-of-the-art fitness center, luxury swimming pool, pet grooming station, a modern library outfitted for leisurely or professional work, a multipurpose theater room, and lighted pathways along accessible routes, providing enhanced safety. In-unit amenities include Energy Star®-rated appliances, modern fixtures and vinyl plank flooring.
Funding sources for Tucker Tower include $28.4 million in 9% Low-Income Housing Tax Credit equity syndicated through Raymond James and purchased by Bank of America; a $30 million construction loan from Bank of America; a $9.5 million permanent loan from Berkadia; and an additional $3.2 million in tax credit equity through the 2022 Construction Housing Inflation Response Program (CHIRP), an emergency program quickly and efficiently established quickly and efficiently by the Florida Housing Finance Corporation to fill funding gaps as a result of supply chain delays, inflation, labor shortages and construction material price increases. HTG was also granted Miami-Dade County Surtax funding in the amount of $2.4 million.
The project team for Tucker Tower includes general contractor BDI Construction; engineer HSQ Group, LLC; architect Corwil Architects; landscaper Witkin Hults; and Interior designer B. Pila Design Studio.
ANF Group, Inc., a full-service construction firm providing construction management, general contracting, development, and design-build services to the South Florida market, celebrated the topping out of University Station, a new $100 million, mixed-use development in Hollywood, Florida. A true public-private partnership (P3) with the City of Hollywood, the development is leading multifamily developer Housing Trust Group’s largest to date and features workforce and affordable housing options, retail space, parking for public and private use, and a new home for Barry University’s College of Nursing and Health Services.
“We are thrilled to have reached this milestone and deliver another amazing development for Housing Trust Group. We value our partnership and the trust you have placed in our team to build this amazing project,” said Al Fernandez, CEO of ANF Group. “We’d like to acknowledge our dedicated team members who have worked tirelessly to bring more affordable housing to the South Florida market.”
Located at 421 N 21st Ave, 309 N 21st Ave, and 2031 Polk Street, University Station will consist of three buildings, including two residential towers and a standalone, 635-space parking garage, of which 365 spaces will serve the Broward Commuter Rail South Station that is planned between Tyler and Taylor Streets, along the Florida East Coast (FEC) Railway. The development will consist of 216 apartments, more than 2,000 square feet of commercial and retail space, 12,210 square feet of educational space, and a parking garage with 635 spaces. The property will have 108 one-bedroom and 108 two-bedroom floorplans with spacious living areas ranging from 621 to 899 square feet. One hundred percent of the apartments will be reserved for individuals and families at various income thresholds, including 22, 30, 40, 60, 70, and 80 percent of the area median income (AMI), with rents ranging from $374 to $1,634.
“Topping out marks a very significant achievement as we come one step closer to making our largest development to date, University Station, a reality,” said Matthew Rieger, President and CEO of Housing Trust Group. “This milestone underscores the importance of our partnership with ANF Group and their instrumental role in bringing this transformative project to fruition. University Station exemplifies our ongoing dedication to crafting vibrant and inclusive communities, offering attainable housing options, and delivering essential resident services to those most in need.”
University Station will be a beacon of modern living, featuring a variety of amenities and facilities where residents will enjoy a state-of-the-art fitness center, multipurpose room, luxurious swimming pool, and bridges connecting the residential towers and parking garage. The building will adhere to the National Green Building Standard, incorporating high-efficiency systems such as low-flow fixtures, energy-efficient lighting, and appliances.
The development team includes Housing Trust Group, Corwil Architects and contractor ANF Group Inc. HSQ Group will serve as the civil engineer, BNI Engineers will serve as the structural engineer, and RPJ Inc., Consulting Engineers will serve as the MEP engineer. Interior design will be done by B. Pila Design Studio, with landscape design by Witkin Hults + Partners. Kaller Architecture will serve as the interior designer for Barry University’s space within the development. University Station is slated for completion in Spring 2025.
Oasis at Aventura, HTG’s eighth collaboration with Alonzo Mourning’s non-profit, will deliver 95 affordable apartments catered to seniors in the Aventura area
Housing Trust Group (HTG), a leading multifamily developer, has commenced construction on Oasis at Aventura, a new $37 Million affordable senior community with 95 apartments in Miami, Florida. The community is the latest joint venture between HTG and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning.
Apartments at Oasis at Aventura will be reserved for income-qualifying residents aged 62 and older who earn at or below 25, 33, and 60 percent of the area median income (AMI). Monthly rents will range from $484 to $1,161. The property is expected to be completed by Spring 2025.
“There’s a significant need for affordable housing as the North Miami and Aventura area undergo a residential building boom and a wave of infrastructure improvements to meet the community’s needs for its growing population,” said Matthew A. Rieger, President and CEO of HTG. “As rental rates continue to escalate, we are thrilled to be contributing to the community’s demand for top-quality and affordable housing that is in close proximity to the best South Florida has to offer."
The developer hosted a groundbreaking ceremony with partners to commemorate the significant milestone on Monday, February 12. Jordan Tolman, Chief Operating Officer of HTG was accompanied by distinguished speakers and guests that included Alonzo Mourning, Miami-Dade County Mayor Daniella Levine Cava, Congresswoman Frederica Wilson, Commissioner Micky Steinberg, and Alex Ballina, Director of Miami-Dade County Public Housing and Community Development.
Located at 18700 NE 25th Avenue, Oasis at Aventura will be an eight-story residential building featuring 95 generously sized one-bedroom units. Residents will have access to an array of amenities, including a spacious multipurpose community room, a state-of-the-art fitness center, business center, library and lounge area, and featured amenities on the expansive outdoor terrace. The National Green Building Standard Certified-property will also have energy-efficient lighting and appliances. The property is ideally located near Aventura Mall and the new Brightline Aventura Station, with short commutes to Publix, The Fresh Market, and Walgreens. Surrounded by the many new upcoming developments in the Ojus Neighborhood.
Residents will also benefit from a range of complimentary on-site programs, including Resident Assurant Check-Ins, assistance with light housekeeping, grocery shopping, laundry, and various community events and activities.
Funding sources include $21 million in 9% Low-Income Housing Tax Credits (LIHTC) equity syndicated through Raymond James, a construction loan of $19.3 million provided by JP Morgan Chase Bank, a permanent Freddie Mac loan of $7.5 million through Berkadia, a Florida Housing Finance Corporation Viability Loan of $4.3 million and a loan of $2.4 million from the Miami-Dade County Affordable Housing Surtax Program.
The design and construction team for Oasis at Aventura includes Realization Architects, general contractor Ballast Construction, engineer Sun-Tech Engineering, Inc., interior design by B Pila Design Studio, and landscape architecture by Witkin Hults + Partners.
Housing Trust Group (HTG), a leading multifamily developer, has closed on financing and commenced construction on Naranja Grand, a new $44 million affordable senior community with 120 units in Leisure City, Miami-Dade County, Florida. Serving as the inaugural phase of a two-phase development, Naranja Grand is a collaborative effort between HTG and Miami Lakes-based Elite Equity Development, Inc., marking a significant stride towards addressing the pressing need for affordable and workforce housing in Miami-Dade County.
Apartments at Naranja Grand will be reserved for income-qualifying residents aged 55 and older who earn at or below 30, 60, and 70 percent of the area median income (AMI). Monthly rents will range from $580 to $1,625. Construction is scheduled to commence in January 2024, and the property is expected to be completed by Spring 2025.
“With rising rents at record rates all throughout Miami-Dade County, there is an overwhelming demand for affordable and workforce housing as workers and seniors are priced out of the urban core,” said Matthew Rieger, President and CEO of HTG. “Naranja Grand reflects our commitment to being a viable solution to this longstanding issue.”
Located SW 280th St & SW 147th Avenue, Naranja Grand will be an 8-story residential building featuring 91 one-bedroom and 29 two-bedroom units. Spanning more than 117,000 square feet, residents will enjoy a range of amenities, including a spacious multipurpose community room that includes a theatre room, game area, and catering kitchen, a state-of-the-art fitness center, outdoor recreational areas, dog park, and modern, chic finishes throughout. The National Green Building Standard Certified-property will feature energy-efficient lighting and appliances.
Complementing the residential offerings, Naranja Grand will provide residents with an array of complimentary on-site programs, such as Resident Assurant Check-Ins, assistance with light housekeeping, grocery shopping, laundry, and various community events and daily activities.
Phase II will consist of 200 units dedicated to families where upon completion, residents of Naranja Grand will have pool access at the southern end of the family community.
Funding sources include $26 million in 9% Low-Income Housing Tax Credits (LIHTC) equity syndicated through Raymond James, a construction loan of $26.2 million provided by TD Bank, a permanent Freddie Mac loan of $9 million through Berkadia, a Florida Housing Finance Corporation Viability Loan of $4.3 million and a loan of $3 million from the Miami-Dade County Affordable Housing Surtax Program.
The design and construction team for Naranja Grand includes ATL Architecture, general contractor Gomez Construction, engineer EAC Consulting, interior design by Builders Design, and landscape architecture by EGS2 Landscape Architecture.
Housing Trust Group (HTG), a leading multifamily developer that develops, builds, and manages a $4 billion portfolio of affordable, workforce, market-rate, and senior housing, is excited to announce the completion and grand opening of Crescent Place, a brand-new $18.2 million affordable housing community in Arlington Heights, Illinois. Located about 40 minutes north of Downtown Chicago, the community marks HTG’s entry into the state of Illinois's affordable housing market.
In partnership with non-profit developer Turnstone Development Corporation, Crescent Place provides 40 affordable units reserved for income-qualifying residents who earn at or below 30 and 60 percent of area median income (AMI), with rents ranging from $621 to $1,489 per month.
“Amidst the challenges posed by escalating rental rates, investment in affordable housing in the Chicago area has never been more essential,” said Matthew A. Rieger, President and CEO of HTG. “We are delighted to bring HTG’s signature high-quality affordable housing to Illinois with the completion of Crescent Place, and in turn provide 40 apartments for small families and professionals seeking well-priced apartments near their jobs.”
The developer hosted a grand opening ceremony with partners to commemorate the significant milestone on Wednesday, November 15th. Jordan Tolman, Chief Operating Officer of HTG was accompanied by distinguished speakers that included District 27 State Senator Ann Gillespie and Village of Arlington Heights Mayor Thomas W. Hayes.
The pressing demand for affordable housing in the Chicago metro area is starkly evident. According to a recent CoStar report, nearly half of Chicago residents feel cost-burdened and spend at least 30 percent of their income on housing. The metro’s rental rates have surged by 3.6 percent since August of last year, surpassing the 1.2 percent national average increase and outpacing 20 other major metro areas nationwide.
Situated on a 2.3-acre lot at 310 W Rand Road, the affordable four-story community offers a variety of spacious one and two-bedroom units ranging from 646 to 880 square feet. Amenities include a community room, library, computer cafe, fitness room, tenant storage compartments, bicycle storage, and 80 outdoor parking spaces (including eight designed to meet ADA parking standards). Additionally, the property boasts a resident garden, an outdoor patio and a walkway seamlessly integrating with the existing public sidewalk system.
Funding sources for Crescent Place include a $10.9 million construction loan and $1.65 million permanent loan from BMO Harris Bank; $12.1 million in 9% Low Income Housing Tax Credit Equity from National Equity Fund (NEF); $4 million from the COVID-19 Affordable Housing Grant Program provided by the Illinois Housing Development Authority; and a $110,214 ComEd grant for building according to Energy-Star efficient standards.
The development team for Crescent Place consisted of general contractor Henry Bros Co., civil engineering Groundwork, landscape architect Krogstad Land Design, architect UrbanWorks Architecture, interior designers Frosolone Interiors, energy efficiency consultant Eco Achievers, and property management team UpHoldings.
Housing Trust Group (HTG), a leading multifamily developer, has closed on financing and commenced construction on Oasis at Aventura, a new $37 Million affordable senior community with 95 apartments in Miami, Florida. The community is the latest joint venture between HTG and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning.
Apartments at Oasis at Aventura will be reserved for income-qualifying residents aged 62 and older who earn at or below 25, 33, and 60 percent of the area median income (AMI). Monthly rents will range from $484 to $1,161. Construction is scheduled to commence in November 2023, and the property is expected to be completed by Spring 2025.
“There’s a significant need for affordable housing as the North Miami and Aventura area undergo a residential building boom and a wave of infrastructure improvements to meet the community’s needs for its growing population,” said Matthew A. Rieger, President and CEO of HTG. “As rental rates continue to escalate, we are thrilled to be contributing to the community’s demand for top-quality and affordable housing that is in close proximity to the best South Florida has to offer."
Located at 18700 NE 25th Avenue, Oasis at Aventura will be an eight-story residential building featuring 95 generously sized one-bedroom units. Residents will have access to an array of amenities, including a spacious multipurpose community room, a state-of-the-art fitness center, business center, library and lounge area, and featured amenities on the expansive outdoor terrace. The National Green Building Standard Certified-property will also have energy-efficient lighting and appliances. The property is ideally located near Aventura Mall and the new Brightline Aventura Station, with short commutes to Publix, The Fresh Market, and Walgreens. Surrounded by the many new upcoming developments in the Ojus Neighborhood.
Residents will also benefit from a range of complimentary on-site programs, including Resident Assurant Check-Ins, assistance with light housekeeping, grocery shopping, laundry, and various community events and activities.
Funding sources include $21 million in 9% Low-Income Housing Tax Credits (LIHTC) equity syndicated through Raymond James, a construction loan of $19.3 million provided by JP Morgan Chase Bank, a permanent Freddie Mac loan of $7.5 million through Berkadia, a Florida Housing Finance Corporation Viability Loan of $4.3 million and a loan of $2.4 million from the Miami-Dade County Affordable Housing Surtax Program.
The design and construction team for Oasis at Aventura includes Realization Architects, general contractor Ballast Construction, engineer Sun-Tech Engineering, Inc., interior design by B Pila Design Studio, and landscape architecture by Witkin Hults + Partners.
