60 Million Dollar Miami Development Project
The Southeast Overtown/Park West CRA (Community Redevelopment Agency) closed on a 60 million dollar loan from Wells Fargo Bank to fund redevelop on of Miami’s more economically struggling neighborhoods. This project will bring new construction and renovations to supply affordable housing. Many people’s lives will be affected wonderfully by this transformation that is set to break ground at the end of this year. The economy will benefit greatly and I expect Miami to flourish from the finished product.
In an article from the South Florida Business Journal, we learned that the CRA has a list of projects they plan to execute. According to a list found in The South Florida Business Journal (Brian Bandell):
- A 10 Million dollar renovation of the Town Park South and Town Park Village housing complexes with 263 units.
- The Plaza at Lyric, with 158 units and 8,000 square feet of commercial space.
- Island Living, an eight-story building with 70 units and 5,000 square feet of commercial space.
- Courtside Family Apartments, with 84 units in its first phase.
At Florida 360, we love to see these types of transformations happen. We think affordable housing is a necessity, and these groundbreaking strides to further the availability is something we can’t help but to be excited about!
The difference it will make for the people and the city is going to be something to celebrate. With more people residing in the neighborhood, it will bring more business to the surrounding stores and shops. The benefit the economy of this area will receive is a cherry on top of the redevelopment pie.
To quote the CRA Executive Director, Clarence Woods “These new developments will help to provide the density that will drive the demand for goods and services, thereby creating a solid foundation for business and commerce.”
He also stated, “The opportunity for small businesses and retailers will create an environment where more jobs will now be available in the community”
Affordable housing and more available jobs?! Thank you CRA for looking out for the community.
I am here to help you “Invest in Your Lifestyle”. Please contact me if you are thinking about buying a condo in Miami.
“At Florida 360 Realty, our mission is to empower the buyer with a financial acquisition strategy, provide the seller with a profitable exit strategy and develop a significant capital growth strategy for the investor.”
FLORIDA 360 REALTY, LLC
2853 Executive Park Drive – Suite 202
Weston, FL 33331
Phone: (954) 449-2529