MIAMI.- In the midst of the housing crisis that is plaguing South Florida, Daniella Levine Cava, mayor of Miami-Dade, inaugurated a public-private project where 95 affordable units are being built for seniors, the most vulnerable segment of the population.
“It’s great that Alonzo Mourning took the passion he has had since childhood and put it into action for the community. Not just for seniors, he is the founder of the Overtown Youth Center, (450 NW 14 STREET, MIAMI, FL 33136) which also does a lot for the youth and families there,” said Mayor Levine Cava this Monday, February.
The councilor explained that these works are always carried out through cooperation and “we are here to ensure that we can turn dreams into reality and achieve safe and comfortable homes for our residents of retirement age.”
“This will be a beautiful eight-story, 95-unit building for senior residents located in the heart of Aventura.”
Oasis at Aventura is located on a 1.2-acre site at 18700 NE 25th Ave. It will feature 96 apartments for people ages 60 and older whose income is between 25% and 60% of the area median income. Rents at Oasis will range from $484 to $1,161 per month.
Residents of Oasis at Aventura, which should be completed in spring 2025, will be able to enjoy a fitness center, business center, a library and an outdoor terrace.
According to the mayor, “what makes this project special are the people eligible to live in it. Since very few developments are intended for this income segment.”
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HTG
Regarding the opportunity of the project, he indicated that it could not have come at a better time, “we are the least affordable housing market in the country. The cost of living has risen astronomically, the supply of housing has decreased, the only thing we can do is increase the supply and that is what we are doing.”
“Senior housing is in short supply in Miami-Dade. Unfortunately, we are experiencing a tremendous shortage of these types of units. Not just in Miami-Dade and in our community, but throughout Florida and across our country,” said Mourning, former Miami Heat star and founder of Housing Trust Group (HTG) and AM Affordable Housing.
The project was financed with $21 million in low-income housing tax credits, a $19.3 million construction loan from JPMorgan Chase Bank, a $4.3 million loan from Florida Housing Finance Corp. and a $2.4 million loan million from Miami-Dade.
Democratic federal congresswoman Frederica Wilson and Alex Ballina, director of Public Housing and Community Development of Miami-Dade, participated in the event.
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