With monthly rents starting at $555, Oasis at Aventura leased up 95 units designated for seniors quickly, illustrating the outsized demand for affordable housing in fast-growing Northeast Miami-Dade County
MIAMI – December 10, 2025 – Housing Trust Group (HTG), one of the nation’s largest developers of affordable housing, and AM Affordable Housing, the nonprofit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, celebrated the official ribbon-cutting today for Oasis at Aventura, a new $38 million affordable senior community delivering 95 modern apartment homes to Northeast Miami-Dade County.
Located at 18700 NE 25th Avenue, the eight-story community is located less than a mile from the Aventura Mall and Brightline Aventura Station and provides one-bedroom apartments reserved for senior residents aged 62 and older earning at or below 25, 33, and 60 percent of area median income (AMI). Monthly rents range from $555 to $1,369.
The ribbon-cutting ceremony drew city and county officials, community partners, and development team members, including HTG President & CEO Matthew A. Rieger, AM Affordable Housing Founder Alonzo Mourning, Miami-Dade County Mayor Daniella Levine Cava; County Commissioner Micky Steinberg (District 4); and Director of Housing and Community Development Nathan Kogan.
Oasis at Aventura marks the ninth community delivered by Coconut Grove-based Housing Trust Group and AM Affordable Housing, and their first new Miami-Dade development in two years. The longstanding partnership has played a meaningful role in expanding the supply of affordable housing throughout the state, with prior communities including Tucker Tower, a 120-unit senior housing development in southern Miami-Dade, and the 84-unit Courtside Apartments in Overtown – their inaugural collaboration launched in 2016.
Miami-Dade County is among the nation’s most expensive rental markets. More than 81% of renter households earning between 30 and 60% of local AMI are cost-burdened, according to the University of Florida Shimberg Center for Housing Studies’ 2025 Rental Market Study. The County has a shortfall of 119,000 affordable units for renter households in the 0 to 60% AMI bracket. In North Miami and the Aventura/Ojus area, rapid residential development, rising rents, and infrastructure upgrades have intensified the need for quality affordable options.
“This new community is an oasis of affordability in an area dominated by luxury homes and developments,” said Matthew A. Rieger, President and CEO of HTG. “It allows seniors on a budget the privilege of living close to their jobs, or near their children, extended families, or other support networks. At Oasis at Aventura, seniors can take full advantage of the area’s great amenities, including public transit, high-quality healthcare providers, and proximity to nature.”
“Safe, dignified, and affordable homes for seniors lie at the heart of our mission,” said Alonzo Mourning, Founder of AM Affordable Housing. “With Oasis at Aventura, we’re providing stability and opportunity for older adults who deserve both. This is what a meaningful partnership looks like.”
Oasis at Aventura features 95 spacious one-bedroom apartments with energy-efficient lighting and appliances, modern-chic finishes, and a thoughtful design that supports aging in place. The National Green Building Standard (NGBS)-Certified property offers a multipurpose community room, state-of-the-art fitness center, library and resident lounge, an expansive outdoor terrace with seating and shade, bocce ball court, BBQ grilling station, and Amazon lockers. The community also provides on-site resident services, such as check-ins, light housekeeping help, grocery and laundry assistance, and social and wellness activities.
Just minutes from Aventura Mall, the Brightline Aventura Station, Publix, The Fresh Market, and Walgreens, the community offers easy connectivity and walkable convenience.
Funding sources for Oasis at Aventura include:
- $21 million in 9% Low-Income Housing Tax Credit (LIHTC) equity syndicated by Raymond James
- $19.3 million construction loan from JP Morgan Chase Bank
- $8.8 million permanent Freddie Mac loan through Berkadia
- $4.3 million Florida Housing Finance Corporation Viability Loan
- $2.4 million loan from the Miami-Dade County Affordable Housing Surtax Program
The development team includes Ballast Construction (general contractor), Realization Architects (architecture), Sun-Tech Engineering (civil engineer), B. Pila Design Studio (interior design), and Witkin Hults + Partners (landscape architecture).
About Housing Trust Group
Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities whose real estate transactions exceed $4 billion in commercial, land and residential developments across Florida, Texas, Illinois and Arizona. HTG develops, builds and manages a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-use developments. For more information, please visit www.htgf.com.
About AM Affordable Housing
Founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, AM Affordable Housing is a nonprofit organization dedicated to addressing the shortage of affordable housing in communities across Florida. The organization partners with leading developers to create sustainable, high-quality housing for families, seniors and veterans in need.