HOUSING TRUST GROUP BREAKS GROUND ON
NEW SENIOR AFFORDABLE APARTMENTS IN DOWNTOWN MIAMI
The new 60-unit development in Overtown is named after the late church leader and community advocate “Father Barry” who passed away on March 24.
MIAMI (May 20, 2020) – Housing Trust Group (HTG) has closed on financing and has commenced construction on a new $18.5 million affordable housing development for seniors in downtown Miami’s Overtown neighborhood. The community is named after the late Reverend Canon Richard Livingston Marquess-Barry, a community leader, housing advocate and former pastor of The Historic St. Agnes Episcopal Church in Overtown, who passed away in March of this year.
Located at 301 Northwest 17th Street, Father Marquess-Barry Apartments will deliver 60 new affordable and workforce- one-and two-bedroom apartments for residents 62 and up. There will be six units for residents earning at or below 28 percent of area median income (AMI), 48 units for those earning at or below 60% of AMI, and six workforce housing units for those earning between 60 and 120% of AMI. Rents will range from $372 to $1,200 a month for qualifying residents. The community is scheduled to be completed in April of 2021.
Father Marquess-Barry Apartments is a partnership between developer HTG, Miami-Dade County, and the non-profit Rainbow Housing Corporation, which granted HTG a 99-year ground lease to build on the site. The community will be developed in compliance with Miami-Dade County’s Responsible Wages and Benefits for Construction Contracts and the developer is working with the Miami-Dade County Arts in Public Places program to commission original artwork on the property.
“The pandemic has further deepened income inequality in Miami, and exacerbated the city’s already dire affordable housing crisis, so the need for new affordable housing communities has never been greater,” said HTG President and CEO Matthew A. Rieger. “Father Barry was a life-long champion for opportunity, justice and civil rights and was instrumental in bringing more safe, affordable housing to Overtown – it was a true privilege to work with him over the years and he will be deeply missed.”
Funding sources for Father Marquess-Barry Apartments include $9.4 million in 9 percent Low Income Housing Tax Credit Equity (LIHTC) provided by Raymond James; a $13 million construction loan from TIAA Bank; a $6 million permanent loan through Freddie Mac/Walker & Dunlop; and $2 million in HOME funding through Miami-Dade County.
The 3-story Father Marquess-Barry Apartments will have 48 one-bedroom apartments and 12 two-bedroom apartments ranging from 684 square feet to 969 square feet. Community amenities include a large multipurpose club room for community and property gatherings; a state-of-the-art fitness center; a library and media center with computers, a secure package-delivery locker system and indoor mail room; and bike racks. Units will include Energy Star-rated appliances, granite countertops, and side-by-side washer and dryer units. Residents of the property will also have access to free on-site programs including literacy training, assistance with light house-keeping/grocery shopping, and other community events and activities. The property will be built to National Green Building Standards (NGBS).
Father Marquess-Barry Apartments is located next to Williams Park, and across the street from Courtside Apartments, an HTG property that has numerous national design awards over the past two years. HTG also recently secured a ground-lease for the redevelopment of nearby Rainbow Village, which will add over 1,000 more affordable apartments to the community.
The building design team for Father Marquess-Barry Apartments is general contractor BDI Construction; architect Modis Architects; engineering firm HSQ Engineers; interior designer B Pila Design Studio; and landscape architect JBC Planning and Design.