Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + South Florida  + Senior Housing  |  April 15, 2024
JV raises $71M for Miami senior housing
Mike Boyd
By: Mike Boyd

JV Raises $71M for Miami Senior Housing

Housing Trust Group (HTG) closed on financing and commenced construction on Naranja Grand II, a new $71 million affordable apartment community comprised of 200 residences in Southwest Miami-Dade County.  A joint endeavor between HTG and Miami Lakes-based Elite Equity Development, Inc. (EED), Naranja Grand II is the second phase of a two-phase development in Miami-Dade County. The first phase of Naranja Grand — which caters to seniors aged 55 and older — commenced construction in January on its 120 residences.

Apartments at Naranja Grand II will be reserved for income-qualifying residents who earn at or below 22 and 70 percent of the area median income. Monthly rents will range from $425 to $1,878. Construction is expected to be completed in Q3 2025.

Located 28050 SW 147th Avenue, Homestead, FL., Naranja Grand II will be an 8-story residential building featuring 90 one-bedroom, 98 two-bedroom, and 12 three-bedroom units.

Funding was provided by ten separate sources.

Connect

Inside The Story

Housing Trust Group

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
Order Reprints