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Atlanta & Southeast  + Atlanta  + Apartments  |  October 10, 2024
Courtside Apartments II funded
Mike Boyd
By: Mike Boyd

Overtown Lands 120-Unit Affordable Rental Community

Housing Trust Group (HTG) and AM Affordable Housing closed on financing and commenced construction on Courtside Apartments II, a $58 million affordable apartment community comprised of 120 units in Miami’s historic Overtown neighborhood. Phase I wrapped up in 2016.

Apartments at Courtside Apartments II are for residents who earn at or below 50, 60, and 70 percent of the area median income (AMI). Monthly rents will range from $985 to $3,092. Leasing is expected to begin in fall 2025, with completion scheduled for Q1 2026.

Located at 1698 NW 3 Ave. and 1501 NW 4 Ave., Courtside Apartments II offers residents amenities such as a clubhouse with a media center, fitness center, dog park, and bike storage.

Funding sources include a construction loan (JPMorganChase), Low-Income Housing Tax Credits (LIHTC) equity syndicated through Truist Bank, a permanent loan (Grandbridge Real Estate Capital), a bridge loan from JPMorganChase, and four loans from various government agencies.

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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.
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  • ◦Development
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