$12 million apartment complex developed by Carrfour Supportive Housing includes 60 affordable housing units for low-income families.
MIAMI, FL – October 31, 2012 – Carrfour Supportive Housing, Florida’s largest nonprofit affordable housing developer, is teaming up with Tacolcy Economic Development Corporation and the Florida Housing Finance Corporation to provide much-needed permanent housing for over 200 low-income residents in the City of Miami.
Parkview Gardens, a brand-new affordable housing complex located at 1437 NW 61st Street in the heart of Miami-Dade County’s Liberty City neighborhood, consists of 60 garden-style apartment units designated for low-income families and individuals. With preference given to local Liberty City residents and area Veterans, the $12 million development provides housing for tenants earning at or below 60% of the area’s median income (AMI), with six units set aside for those earning at or below 33% of the AMI.
On October 30, 2012, Carrfour celebrated the grand opening of Parkview Gardens during a special reception and ribbon-cutting ceremony attended by Miami Mayor Tomas Regalado, County Commissioner Audrey Edmonson and former County Commissioner Dr. Barbara Carey-Shuler.
“Parkview Gardens is a great example of a project that provides a safe place for people in need of a permanent place to live within the community while also stimulating the local economy,” said Stephanie Berman-Eisenberg, president of Carrfour Supportive Housing. “We built this project with the intention of creating a modern, secure and affordable living environment for families while serving as a catalyst for revitalizing one of Miami-Dade’s most distressed neighborhoods.”
With units ranging in size from one to three-bedroom apartments, Parkview Gardens consists of six, three-story residential buildings, a community center, and a two-story parking garage. Amenities include a childrens’ playground, exercise room, computer lab, library and picnic area.
Parkview Gardens is managed by Crossroads Management, Inc., a property management subsidiary of Carrfour Supportive Housing, with the development of the project producing approximately 160 construction jobs.
The City of Miami provided about $343,000 in HOME funding for the development of Parkview Gardens as well as conveyed several parcels of land on which the project was built. Miami-Dade County provided $1,600,000 in Surtax funding. First Housing and JP Morgan Chase Bank served as funding partners while RBC Capital Markets served as equity provider for the project.