Housing Trust Group has obtained $22 million in financing for the affordable housing project in Miami called Wagner Creek Apartments. Located at 1501 Northwest 13th Court, the 73-unit project sits near the Miami River, offering a rooftop terrace and garden, gym, computer lab and a community room. The project is pursuing a silver certification from the National Green Building Standard.
Financing for construction includes a $17.14 million grant from 9 percent low-income housing tax credits and a $3.4 million construction loan. Miami-Dade County is throwing in $222,000 from its affordable housing surtax program. The project is targeting a mix of income groups as tenants, with 60 units set aside for tenants earning at or below 60 percent of the area’s median income ($49,900 in Miami-Dade County). Eight units will be reserved for those earning 33 percent of the AMI and five for moderate income levels.
“We are grateful for the opportunity to partner with the City of Miami and Miami-Dade County on Wagner Creek, a development which provides working families with more options for safe, affordable and quality housing where it’s most needed,’’ said Matthew Rieger, president and CEO of Housing Trust Group.
