Projects
Current Projects
So far the CRA has approved the following infrastructure and TIF requests:
The Gardens Residences
Omega Investors Group owns properties located at 12640 NE 12th Avenue and 1195 NE 126th Street totaling 174,668 sq. feet. An eight (8) story 384-unit mixed-use project of primarily workforce housing with 16 studios, 189 one bedrooms, 150 two bedrooms and 29 three bedrooms and 507 parking spaces between structured and perimeter parking. Amenities will include rooftop pool, gym, conference and game rooms, and a 3,000 square feet of retail space for a coffee shop, beauty salon and dry cleaner. Estimated construction cost of project is $57,800,000 for a total cost of project of $86 million. 10% or 38 units will be earmarked for affordable housing (80% AMI) through the life of the NMCRA.
Rucks Park
This grantee received a 50% TIF grant not to exceed $1,22,160 through the life of the CRA.
Solo Miami
This grantee received a 50% TIF grant not to exceed $1,22,160 through the life of the CRA.
Kayla at Library Place
This grantee received a 50% TIF grant not to exceed $5,324,797 through the life of the CRA.
Allure North Miami
TR NM Holdings LLC has secured a long-term lease of two (2) city owned parcels, of which one (folio #06-2221-006-0020); the south parcel is within NMCRA boundaries. A twelve (12) story 250-unit residential project, with an elevated pedestrian sky-bridge to connect to the other tower, which will house the parking and amenities. The South Tower will consist of 27 studios, 85 one (1) bedrooms, 130 two (2) bedrooms, and 8 three (3) bedrooms. Estimated construction cost of project is $57,400,545. 10% or 25 units will be earmarked for affordable and workforce housing (80% - 140% AMI) through the life of the NMCRA.
475 North Miami LLC
Art & Tech Development is the owner of two parcels pf property located within the bounndaries of the NMCRA.
The NMCRA has approved an award for the purpose of funding a multi-family residential rental project consisting of 28 units including 6 one bedrooms, 14 two bedrooms and 8 three bedrooms along with appropriate parking and amenities.
Partners of 645 LLC
This grantee received a 50% TIF grant not to exceed $259,533 through the life of the CRA.
