Housing Finance Authority of MiamiDade County A Great Team Builds High Quality Apartments in collaboration with NBA AllStar Alonso Mourning Multifamily Excellence 2019 Courtside Family Apartments was developed by NBA Hall of Fame member and Miami Heat Basketball legend Alonzo Mourning throu ID: 800411
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Slide1
Courtside Family Apartments
Housing Finance Authority of Miami-Dade County A Great Team Builds High Quality Apartments in collaboration with NBA All-Star Alonso MourningMultifamily Excellence 2019
Slide2Courtside Family Apartments was developed by NBA Hall of Fame member and Miami Heat Basketball legend Alonzo Mourning, through AM Affordable Housing (AM) and the Housing Trust Group (HTG), a leading real estate developer in Florida, the Southeastern U.S. and Arizona.
Developer HTG was selected by Mourning in 2007 to be his 501(c)3 non-profit's partner for up to three (3) phases of development of affordable housing.Courtside Family Apartments incorporated green design and building techniques into the construction.
Courtside has also received Bronze Certification from the National Green Building Standard (NGBS). In accordance with these standards, residential units feature low-flow plumbing fixtures, low-VOC paint, Energy Star appliances and energy- efficient HVAC systems.
Courtside’s design also conforms to the
Design Standards and Guidelines for the local Southeast
Overtown
/Park West Redevelopment Project
to help
strengthen the neighborhood’s identity
. The partners long-term aim is to create a pedestrian-friendly environment on the grounds of the
Culmer
Center which provides residents with access to governmental services, small business opportunities, and neighborhood-oriented shopping and serves as a
catalyst for future development in the area.
Slide3Affordability
Total Number of Units – 84 (Phase I) Average rent per unit type:Number of units per unit type: $592 one-bedroom10 one-bedroom $711 two-bedroom53 two-bedroom $822 three-bedroom
21 three-bedroomFour live-work units
Rent Range:
1 Bedroom - $420 - $765
2 Bedroom - $504 - $918
3 Bedroom - $583 - $1,061
Total number of income-targeted, rent-restricted units: 84
Approximate percentage of units set aside for each maximum tenant income level:
100%@60%ofAMI 10% @ 33% of AMI
Sources: The $22.8 million development is financed with 4% low-income housing tax credits (LIHTCs) and bonds. RBC Capital Markets provided the LIHTC equity.
Entities: Southeast
Overtown
/Park West Community Redevelopment Agency, Citi Community Capital, Miami Dade Housing Finance Authority, Miami-Dade County