MIAMI—Carlisle Development Group has broken ground on two affordable housing developments here.
The firm has started work on the first two phases of the Brownsville Transit Village Apartments located adjacent to the Brownsville Metro-Rail station.
Valued at $100 million, the five-phase development will have 467 units. Phase one has 96 units for families, and phase two has 100 units for seniors. The Miami-Dade County Surtax program contributed about $4 million toward the funding of the village.
Carlisle also broke ground on Beacon Apartments. It’s the first major residential development in the Overtown area of Miami in many years, according to firm officials. The $25 million, 13-story high-rise will have 90 units.
Beacon uses about $20.7 million from the low-income housing tax credit exchange program from Florida Housing. The first-mortgage lender is First Housing Development Corp. of Florida, and Miami-Dade County programs provide a second mortgage.