Doors of 60-Unit Affordable Housing Complex Open in Miami

Carrfour Supportive Housing has just opened the doors of Parkview Gardens to low-income residents and veterans in Miami’s struggling Liberty City neighborhood. The 60-unit apartment community, developed in conjunction with Tacolcy Economic Development Corp. and the Florida Housing Finance Corp. at a cost of $12 million, can accommodate 200 dwellers. Despite an overwhelming need, securing financing for the development of affordable housing projects can be a challenge. A variety of sources came forward to help Carrfour bring Parkview to fruition. The City of Miami supplied approximately $343,000 in HOME funding, while Miami-Dade County provided several parcels of land for the development and $1.6 million through its Affordable Housing Surtax Program. Commercial lenders came aboard, too. JP Morgan Chase Bank and affordable multi-family housing mortgage firm First Housing served as funding partners and RBC Capital provided equity.

Commercial Property Executive

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