Florida’s largest nonprofit low-income housing developer announced it will build 256 new residences at three rundown apartment complexes in Miami-Dade County.
Miami-based developer Carrfour Supportive Housing said it acquired the properties with $17 million in federal funds allocated through the Neighborhood Stabilization Program 2 (NSP2) of U.S. Department of Housing and Urban Development (HUD).
Work on the three sites — Harvard House, Hampton Village and Tequesta Knoll — will create about 340 construction jobs over the next two years and provide permanent housing for about 1,092 men, women and children, the company said in a statement.
The NSP2 program seeks to revitalize neighborhoods that have been adversely affected by homes that were foreclosed upon or abandoned as a result of the recession. The HUD initiative, which is part of the American Recovery and Reinvestment Act of 2009, has granted nearly $2 billion to states, local governments, nonprofits and public and or private nonprofit entities on a competitive basis to rehabilitate distressed properties.
Carrfour was part of a consortium of Miami-Dade County development firms that was granted $89 million in funding through the program.
“With the acquisition of these properties, Carrfour has fully allocated the $17 million we were granted through the government’s NSP2 initiative,” Carrfour President Stephanie Berman said in the state. “Our efforts to rehabilitate these properties over the next two years will result in a ‘triple win’ for the Miami-Dade community. Beyond providing much-needed housing for families and individuals in need, we will rescue these apartments from distress, while creating hundreds of construction jobs.”
Harvard House, 2020 N.E. 169th St., North Miami Beach, will have 56 housing units, 28 of which will be designated for residents with incomes at or below 50 percent of the area’s median income. Facilities will include a computer room, a basketball court, a gymnasium, a playground, a picnic area, a car care area and a laundry room. The project carries a $4.4 million budget and renovations are scheduled to begin later this month, with construction expected to be completed by late 2012.
Hampton Village, 4301 N.W. 29th Ave., Miami, will have 100 apartments, all of them designated for residents with incomes at or below 60 percent of the area’s median income. The renovation price tag is $6 million and construction will start this summer and end in late 2013.
Tequesta Knoll, 1629 N.W. 14th Ter., Miami, will contain 100 apartments, 30 of them designated for residents with incomes at or below 50 percent of area’s median income. This complex will include a playground and a community meeting room and will cost $5.6 million. Construction has started and will be completed in late 2012.
Photo: COURTESY OF CARFOUR
ARTIST’S RENDERING: This is what the renovated Hampton Village, 4301 N.W. 29th Ave., will look like.