Two New Affordable Housing Developments to Be Built in South Florida
The projects will provide affordable housing for in-need areas of South Florida while helping to revitalize and stabilize their local communities
Dec. 15, 2023
Image: Kristina Blokhin / stock.adobe.com
In an effort to provide affordable housing in South Florida while revitalizing and stabilizing communities in that area, real estate company T.D. Jakes Real Estate Ventures (TDJREV) has announced a partnership with New Urban Development, Miami's largest Black-owned real estate developer, to build two affordable housing developments, one in Florida's Hallandale Beach and the other in Miami Gardens, Black Enterprise reports.
The Hallandale Beach project, which is expected to break ground in Q1 2024, will be a multifamily, mixed-income development featuring 200 units on 5 acres located at the center of a historically African American community. The Miami Gardens project is a senior living development that will consist of 150 units on 7 acres located adjacent to Miami Gardens Senior Family Center.
Oliver Gross, president of New Urban Development, said partnering with T.D. Jakes Real Estate Ventures has opened many doors to resources they didn’t once have access to. “The relationships and access to funding sources through T.D. Jakes Real Estate Ventures will help us expand the work we’ve been doing to improve the housing options in overlooked and underserved neighborhoods of Miami-Dade County and surrounding areas,” Gross said.
