Housing Trust Group (HTG) has opened Max’s Landing Apartments, a 76-unit affordable housing community located in the West Kendall neighborhood of Miami. The development cost was $25 million.
Located at 8905 SW 169th Court, Max’s Landing Apartments is a three-story building with 56 one-bedroom, one-bath units and 20 two-bedroom, two-bath units. The property has 11,388 square feet of retail space on the ground floor, and residential units on the second and third floors.
Units range in size from 688 square feet to 1,108 square feet, and feature washer and dryer hook-ups, wide plank flooring and balconies. Community amenities include an elevator, clubroom with a kitchen and lounge seating, fitness center, business and computer room, community garden, smart storage lockers, electric car charging stations and bicycle racks.
Apartments at Max’s Landing are reserved for residents earning between 30 and 80 percent of area median income (AMI), with monthly rent for qualifying residents ranging from $401 to $1,443.
HTG purchased the 2.7-acre site in March 2019 and broke ground on the project in Feb. 2020. Earlier this year, the developer began leasing the property, and Max’s Landing is already fully leased. The project team includes Modis Architects, HSQ Engineers and Gomez Construction Co.
City Real Estate Advisors provided $14.5 million in 9 percent Low Income Housing Tax Credit (LIHTC) equity. KeyBank Real Estate Capital provided a $5.5 million loan, and Miami-Dade County provided $1.6 million in financing.
Original Source: Housing Trust Group Opens $25M Affordable Housing Community in Miami | REBusinessOnline