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COMPLETED PROJECTS
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Rio Plaza -114 Units (Homeownership) Completed 1989. The Rio
Plaza North and
South Condominiums consist of 114 units in two identical, five story
towers. Rio Plaza is located at 501 and at 546 SW. 1st St. In the Rio
Plaza project, all of the 114 units benefit low-income families earning no
more than 80 percent of Miami-Dade County median income. The project
utilized Dade County Surtux 2nd Mortgage Financing on all 114 units.
Property Management and Condo Association training were provided by ELHCDC
for 1 1/2 years. |
Plaza Villas -11 Units
Homeownership - This project was completed in 1991. East Little
Havana CDC successfully completed the development of the Plaza
Villas Townhouses, an 11 unit multi-site project located at 720 SW.
2nd St. and 997 SW. 6th St. in Miami. East Little Havana CDC
secured the necessary construction and permanent financing,
undertook the construction, and successfully closed on all 11 units.
All 11 units obtained and used Surtax 2nd Mortgage financing and
benefited very low & low income families and the elderly.
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Rio Towers Housing for the Elderly
Mixed use: Rental for the Elderly and Commercial. This is an 82
apartments building and 8,200 sq. ft. of commercial space on the
first floor. Completed 1992. It is located at 905 SW. 1st Street in
Miami, Florida. For years it has assisted the largest population in
the area that lives on fixed income, namely the elderly. This
project obtained a $1 million loan for construction financing from
the Dade County Surtax program and $4,000,000 in "Low Income Housing
Tax Credits" from the State of Florida and the IRS. 100% of the
units are set aside for elderly and very low income tenants earning
60% of median or less. |
Rio Gardens Townhouses
Home Ownership - This 22 Unit project was completed in 1996. Thedevelopment
is a multi-site project located on SW. 2nd Street and SW. 3rd Street between 4th
& 5th Avenues that consists of six 2-bedroom units and sixteen 3-bedroom
units for a total of twenty two (22) units. The goal of this development was to
provide homeownership to low and very-low income families and to alleviate the
shortage of housing in the service area.
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Sunrise Gardens Condominium
Home Ownership - Sunrise Gardens is a
condominium project
consisting of 12 units distributed as follows: (4) one bedroom units and (8) two
bedroom units, is located on SW. 2nd St between 5th & 6th Avenues. This
project delivers on both affordable pricing and creative financing of the
condominium units to address the needs of low and very-low income persons. The
1-bedroom units are affordable to families earning between $12,800 and $13,800
annual income and the 2-bedroom units are affordable to families earning between
$14,800 and $15,800 annual income. Monthly housing expense payments for the new
owners range between $315 for the 1-bedroom unit and $362 for the 2-bedroom
units (these payments including everything . . . principal, interest, taxes,
insurance and condominium fees).
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Riverside Gardens Phase I
Homeownership - This 10 unit development was completed in 1998. It
consists of 2-bedroom and 3-bedroom units. This townhouse project was developed
in two phases on multiple sites along South River Drive and on NW 2nd Street in
Miami. This project delivers on both affordable pricing and creative financing so
that the condominium units address the needs of the low and very low income
persons.
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Casa Grande
Towers
Homeownership and Commercial - Casa Grande is an
80 Unit hi-rise that was completed and occupied in the summer of 1999. The
project consists of 80 Condominium units on the upper 10 floors and a
Commercial/Retail facility of approximately 5,000 sq. ft. on the first floor.
This development serves low-income families earning 80% of median or less.
The project is located at 104-120 SW 9th Street in Miami. Financing was
provided from the City of Miami, Dade County Surtax, the State of Florida,
Pacific National Bank and the Federal Home Loan Bank of Atlanta. The land was
purchased by ELHCDC. Approximately 100 full-time jobs were created during the
construction of the project.
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Riverside Gardens Phase II A 15 Units
homeownership complex. Construction has concluded and project has successfully
accomplished many goals in this economically depressed area of Miami. |
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