(Rendering courtesy of SG Holdings)
The Miami-Dade County Fee just lately granted last approval for SG Holdings’ Little River District, a transformative $3 billion, mixed-use improvement that may redefine the city panorama of Miami’s underserved Little River and Little Haiti neighborhoods.
Spanning 63 acres, the large-scale undertaking goals to construct greater than 5,700 inexpensive and workforce housing models, alongside main big-box retail shops, small companies, main grocery operator, inexperienced public house, and transit infrastructure with the addition of a brand new prepare station, marking a historic funding in Miami’s future.
Led by SG Holdings, a three way partnership comprised of Swerdlow Group, SJM Companions, and Alben Duffie, the partnership stands on the forefront of inexpensive housing improvement, following its profitable supply of the 1.5 million-square-foot, mixed-use improvement Sawyer’s Stroll that includes 578 inexpensive senior housing models in Miami’s historic Overtown neighborhood.
The Little River District undertaking is taken into account the most important inexpensive housing improvement in Miami-Dade County’s historical past. It is going to function 2,284 inexpensive housing models at a mean 60 % Space Median Earnings (AMI), 1,398 workforce rental models at as much as 120 % AMI, along with 2,048 potential workforce condominium models, which might permit the consumers to acquire important subsidies to fulfill the acquisition worth at as much as 140 % AMI, guaranteeing
long-term housing stability for 1000’s of Miami-Dade residents.
Present residents of present public housing complexes located throughout the improvement website are assured the suitable to return to new models at Little River District with no will increase in hire.
This transit-oriented undertaking is made potential by immense non-public and public sector collaboration led by the event group SG Holdings together with public sector companions: Miami-Dade County’s Division of Housing and Neighborhood Growth (HCD), U.S. Division of Housing and City Growth (HUD), Metropolis of Miami, and key native officers resembling Miami-Dade Mayor Daniella Levine Cava, County Commissioner Keon Hardemon, and Metropolis of Miami Fee chair Christine King.
“This approval is a significant milestone in addressing Miami’s crucial want for inexpensive and workforce housing,” mentioned Michael Swerdlow, founder and CEO of Swerdlow Group. “At a time when inhabitants development is fueling demand for housing and on a regular basis providers, the Little River District will ship a group that prioritizes inexpensive and high quality housing, accessibility to public transit, and financial alternative for native residents and enterprise homeowners with the purpose of producing prosperity for the extremely deserving communities of Little Haiti and Little River.”
On condition that parts of the 63-acre website are owned by the county, the public-private partnership paves the best way for this complete housing-led improvement plan that features leveraging federal tax credit to help inexpensive housing and collaborating with Miami-Dade beneath a Neighborhood Advantages Settlement (CBA) to drive native hiring and group funding.
The Little River District undertaking is about to create lots of of jobs throughout development and after, stimulating the native economic system and supporting companies throughout the space. With a half century monitor file of accountable improvement, SG Holdings stays dedicated to working with development companions who uphold labor requirements and prioritize job website security throughout this multi-year undertaking.
Designed by famend structure agency Arquitectonica, the mixed-use and mixed-income housing improvement will introduce greater than 370,000 sq. ft of retail house, together with commitments already secured from main retailers resembling Residence Depot and BJs. As well as, the undertaking will function a significant grocery store, gasoline station, meals and beverage choices, and different important retail providers for the neighborhood.
About 250,000 sq. ft of publicly accessible inexperienced house will span the undertaking, fostering a walkable and sustainable city pedestrian-friendly surroundings with improved pedestrian walkways, enhanced landscaping and beautification, bike paths and shuttle service for residents.
The Little River District will prioritize transit accessibility with a deliberate new Tri-Rail prepare station, representing a major $35 million funding being made by SG Holdings in Miami’s public transportation community. This improvement will cut back congestion, enhance accessibility, and foster higher connectivity throughout the undertaking website and the broader city core.
The residential communities deliberate throughout the inexpensive and workforce housing part will function facilities together with swimming pool, laptop lab with printer entry, health middle, out of doors recreation house for youngsters, bike parking, inexperienced out of doors house with pavilions and strolling and bike paths, free Wi-Fi in widespread areas, onsite-property administration, gated parking zone with restricted entry, mills for the group areas, and safety cameras with automotive plate readers.
As well as, the high-quality residences will embody in-unit washers and dryers, granite counter tops, dishwashers, fridges with ice makers, central air and sensible fan methods, electrical water heaters, tile floorings, and complimentary high-speed web for 3 years.
Moreover, the most important redevelopment goes to generate important job creation domestically. Roughly 3,840 jobs shall be generated throughout the undertaking’s development and one other 518 everlasting positions as soon as delivered. The impactful undertaking will prioritize native hiring preferences for each the development and everlasting jobs, together with low-income and public housing space residents.
Additionally, the county will reap roughly $9.5 billion by this undertaking — the most important income sharing pact of this type within the county’s historical past. The county might use these revenues to help its efforts to deal with the inexpensive housing disaster in Miami-Dade and spend money on group improvement, inclusive of supporting small companies.
Development is predicted to start in 2026, with a projected improvement timeline of eight years. As soon as accomplished, the Little River District will stand as a mannequin for large-scale, community-driven redevelopment centered on creating inexpensive and workforce housing, exemplifying how public-private collaboration can drive significant, long-lasting transformation in an city setting.
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