By USCM Vice President Miami Mayor Manny Diaz
May 5, 2008

In keeping with what I have continually strived towards during my tenure as mayor, Miami continues to forge a new future with new, innovative and smart approaches to development and urban growth. One of our latest projects is ground breaking on more than just a couple of fronts. It’s never been done quite this way, certainly not in Miami; secondly the elements and basic structure of the project is ground breaking in that it is a joint venture that combines green building and the redevelopment of a social amenity in YMCA land and property, with affordable housing. Thirdly, it is a classic example of a public-private partnership at its finest with net mutual social and commercial benefit built in. We are confident in considering the project a responsible public investment, and one of real social consequence.

Village Allapattah towers is a joint venture between Biscayne Housing Group and Carlisle Development Group combining mixed-use, green-certified and affordable housing in a high-rise development for low-income families. The site locates 200 apartments with a 17,000 square foot YMCA fitness center and a 11,000 square foot day care facility. The entire development project will be pre-certified green. Families or individuals earning 60 percent or less than the area median income will be eligible for low-income housing within the development. The project includes 90 apartments geared toward low-income senior households.

The developers will enter into a lease arrangement for the land with the YMCA, remove and replace their aging outmoded structure, and rebuild for them, at cost, a new day-care center and a health and fitness center.

Resident programming will include job training and financial education and counseling, homeownership opportunity and first time homebuyer seminars, self'sufficiency or welfare-to-work programs, resident assistance referrals in addition to other activities focused on residents. Seniors will also be afforded the opportunity to participate in Life Safety Training.

Both facilities will be state-of-the-art for the day care center as well as the fitness center. At 11,000 and 17,000 square feet, these two facilities will be much larger and more user-friendly. The bottom line is that the YMCA will get new facilities built at cost, plus approximately $250,000 in annual ground lease payments to subsidize their important mission. Tenants at Village Allapattah Towers will be automatic members of both facilities, and the developers will have the land needed to build the housing.

The project’s financing includes federal housing tax credits, commercial construction and permanent financing as well as state SAIL funds, county surtax and HOME funds, incorporating city and county impact fee waivers. Support sources for the project include Florida Housing Finance Corporation (FHFC) Annual Housing Tax Credits of $4,870,000 and County SURTAX support of $6,750,000, FHFC Rental Recovery Loan Program funds of $5,910,000. In addition, the YMCA received a commitment of $2.5 million in county GOB funds to develop their facilities.

This new project blends climate protection with means-based affordability and key community benefits. Miami continues to drive new beginnings with a holistic vision in mind. It’s a smart example of smart growth and sustainability with a social conscience at a time in our city and country when we critically need them. In the final analysis, a city is only as great as the quality of life its people enjoy.

For more information, contact the Department of Community Development at 444 SW 2nd Ave, 2nd Floor, Miami, FL 33130; Phone: (305) 416-2080; Fax: (305) 416-2090.