There is great demand for affordable housing in South Florida, and former Miami Heat center and NBA Hall of Famer, Alonzo Mourning, is doing something about it. According to a University of Florida study, over 1.1 million South Florida residents spend over 30 percent of their income on housing. This project hopes to lessen that number.
New project specifics
The Courtside Family Apartments, located at 1700 N.W. Fourth Avenue, in Miami’s Overtown neighborhood, will be comprised of 84 units, including 10 one-bedroom, 53 two-bedroom, and 21 three-bedroom units. The rent is expected to be as low as $331 per month, and the building will be home to low income and extremely low-income families. The project will cost around $22.8 million in total, which includes the addition of quality features such as low-flow plumbing fixtures, low-VOC paint, and Energy Star-qualified appliances.
In addition to the Courtside Family Apartment project, Mourning and Housing Trust have two further phases planned for the surrounding property, which they originally leased in part from the city of Miami. These plans include a minimum of120 units of senior housing.
While individuals struggle to find affordable housing in Miami, there is hope that the situation is changing for the better. The Courtside Family Apartment project is a start, and hopefully more projects of the same ilk begin to make their way into a city with a major need for affordable housing.
The Graham Legal team is dedicated to assisting families in difficult financial situations through a combination of providing information and making good foreclosure defense attainable. If you are in the middle of a potential foreclosure situation or have already begun the process, you deserve the help of a knowledgeable foreclosure attorney in Miami. Graham Legal invites you to set up an initial consultation with one of our experienced foreclosure attorneys and begin working through your unique situation today.