Atlantic Pacific Communities and Palmetto Homes have broken ground on 70 units of affordable housing in the Overtown neighborhood of Miami. The NW 3rd Avenue project will have eight stories and include 5,000 square feet of commercial space on the ground floor. At least 50 percent of the units will be dedicated to households with incomes that do not exceed 60 percent of the area’s median income. The remaining units are dedicated to households with incomes that are not in excess of 120 percent of the area’s average. Financing for the project comes from bonds issued by the Southeast Overtown/Park West Community Redevelopment Agency.
