Plans to build approximately 5,700 affordable and workforce housing units in Miami took a big leap forward.
The Miami-Dade County Commission has granted final approval for SG Holdings’ Little River District, a transformative $3 billion, mixed-use development in Miami’s underserved Little River and Little Haiti neighborhoods.
The large-scale project will also include major big-box retail stores, small businesses, a major grocery operator, green public space, and transit infrastructure with the addition of a new train station, marking a historic investment in Miami’s future.
SG Holdings is a joint venture comprised of Swerdlow Group, SJM Partners, and Alben Duffie. The partnership recently delivered the Sawyer’s Walk development, featuring 578 affordable senior housing units in Miami’s historic Overtown neighborhood.
The Little River District project will be largest affordable housing development in Miami-Dade County’s history, according to the development team. It will feature 2,284 affordable housing units at an average 60% of the area median income (AMI), 1,398 workforce rental units up to 120% of the AMI, and 2,048 potential workforce condo units, which would allow the buyers to obtain significant subsidies to meet the purchase price at up to 140% of the AMI, ensuring long-term housing stability for thousands of Miami-Dade residents.
Residents of existing public housing complexes situated within the development site are guaranteed the right to return to new units at Little River District with no increases in rent, say officials.
This transit-oriented project is made possible through immense private- and public-sector collaboration led by the development group SG Holdings. Public-sector partners include Miami-Dade County’s Department of Housing and Community Development, the Department of Housing and Urban Development, the city of Miami, and key local officials, such as Miami-Dade mayor Daniella Levine Cava, county commissioner Keon Hardemon, and Miami Commission chairwoman Christine King.
“This approval is a major milestone in addressing Miami’s critical need for affordable and workforce housing,” said Michael Swerdlow, founder and CEO of Swerdlow Group. “At a time when population growth is fueling demand for housing and everyday services, the Little River District will deliver a community that prioritizes affordable and quality housing, accessibility to public transit, and economic opportunity for local residents and business owners with the goal of generating prosperity for the highly deserving communities of Little Haiti and Little River.”
