HTG QUESTIONS FOR NEW DEVELOPMENTS PRESS RELEASES
What is the exact name and address of the property?
Father Marquess-Barry Apartments – 301 NW 17th Street, Miami, FL 33136
Describe the property (# of units, square feet, type, etc.)
60 units, New Construction
1BR – 684 SF
2BR – 969 SF
Describe the property amenities (clubhouse, pool, etc.)
Large Multipurpose room, fitness center, library, secured indoor mail room, bike racks.
What is the affordability breakdown (i.e. 30 % AMI, market rate, etc.)
6 units at 28%AMI, 48 units at 60%AMI and 6 workforce units
What is the all-in price of the property? (I.e. value of land, construction, etc.)
$19MM
Please describe the funding sources – i.e. tax credits used, who bought the tax credits, as well as additional loans taken, and sources of soft financing. Total of financing.
9% Tax credits through the 2018-102 FHFC Revitalization RFA.
$12.7MM Construction loan from TIAA Bank
$6MM Perm Loan with Walker Dunlop/Freddie Mac
$2MM HOME from Miami Dade County
If this was a public-private partnership, please indicate the partner that should receive credit.
Partnership with Rainbow Housing Corporation who is our non-profit partner and is the sublessor for the land.
When is construction slated to begin/complete?
March 2020
When is leasing slated to begin?
December 2020 through March 2021
Describe the property (# of units, squaWhat is the range of monthly rent?
1BR – $372-$1000
2BR – $450-1200
48 1-bedroom units 12 2-bedroom units
If residents receive any services (i.e. childcare) as part of community, please indicate.
Literacy Training, Daily Activities, Assistance with Light Housekeeping, grocery shopping and/or laundry
Who is the contractor, architect, engineer, landscaper (i.e. full design/construction team)?
GC – BDI Construction
Architect – Modis Architects
Engineer – HSQ Engineers
Interior Design – B Pila Design Studio
Landscape Architect – JBC Planning and Design
What else is notable that ought to be highlighted?
Working with Miami Dade County Arts in Public Places to provide artwork for the Space
Also is a responsible wages development.