Housing Trust Group and AM Affordable Housing, founded by former Miami Heat star Alonzo Mourning, broke ground on an 8-story affordable housing building in the Ojus neighborhood near Aventura.

Oasis at Aventura will be located on the 1.26-acre site at 18700 N.E. 25th Ave. It will have 96 apartments for people ages 60 and up who earn between 25% and 60% of area median income. Rents will range from $484 to $1,161.

“There’s a significant need for affordable housing as the North Miami and Aventura area undergo a residential building boom and a wave of infrastructure improvements to meet the community’s needs for its growing population,” stated HTG CEO Matthew A. Rieger.

Amenities in Oasis at Aventura will include a community room, a fitness center, a business center, a library, a lounge and an outdoor terrace.

HTG said the project was founded by $21 million in low-income housing tax credits through Raymond James, a $19.3 million construction loan from JPMorgan Chase Bank, a $4.3 million loan from the Florida Housing Finance Corp. and a $2.4 million loan from Miami-Dade County’s surtax program. In addition, Berkadia helped the developers secure $7.5 million in permanent financing from Freddie Mac once the project is completed.

Miami-based Ballast Construction is the general contractor and Coral Gables-based Realization Architects designed the project.

Oasis at Aventura should be completed in spring 2025.

HTG has developed several affordable housing projects in the past with Mourning, a member of the Basketball Hall of Fame.



External Sources:

Housing Trust Group Celebrates Grand Opening of New Affordable Housing Community in Clay County – Housing Trust Group (htgf.com)

HTG, AM Affordable Housing Break Ground on $37M Seniors Housing Community in Miami – REBusinessOnline

Housing Trust Group & AM Affordable Housing Break Ground on New Affordable Community for Seniors in the Heart of Miami (multifamilypress.com)

Housing Trust Group, AM Affordable Housing Secure Financing And Break Ground On 95-Unit Affordable Senior Community ‘Oasis at Aventura’ – Florida YIMBY

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