Housing Trust Group Breaks Ground on 60-Unit Seniors Housing Community in Downtown Miami

  • May 21, 2020
  • REBusiness Online

The property is situated at 301 NW 17th St. The owner of the land, nonprofit group Rainbow Housing Corp., granted a 99-year ground lease for HTG to build the community. Raymond James provided $9.4 million in 9 percent Low Income Housing Tax Credit Equity (LIHTC); TIAA Bank provided a $13 million construction loan; Walker & Dunlop provided a $6 million Freddie Mac permanent loan; and Miami-Dade County provided $2 million in HOME funding.

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