Florida & Gulf Coast | May 21, 2020

HTG Breaks Ground on $19M Senior Housing Project in Downtown Miami

Housing Trust Group (HTG) has broken ground 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

Located at 301 Northwest 17th St., Father Marquess-Barry Apartments will consist of 60 new affordable one-and two-bedroom units for residents 62 and over earning at 28% and 60% of area median income (AMI), along with six workforce housing units. The community is slated to be completed in April 2021.

Funding sources for Father Marquess-Barry Apartments include $9.4 million in 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.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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