CUTLER BAY, Fla. — General contractor ANF Group Inc has broken ground on Sol Vista, a 227-unit affordable seniors housing community in Cutler Bay, approximately 20 miles south of downtown Miami.
MRK Partners and Cypress Equity Investments are co-developers on the project. The two companies are partnering with the Housing Finance Authority of Miami-Dade County, the Florida Housing Finance Corp., R4 Capital LLC and R4 Capital Funding to finance the development.
Sol Vista’s affordability will be preserved for 30 + years, thanks to a new regulatory agreement on the property.
The plans call for a three-story parking garage and an eight-story residential building. The garage will include EV chargers for electric vehicles as they continue to grow in popularity.
All apartments will be reserved for those age 62 and older and those earning no more than 60 percent of the area median income (AMI), approximately $40,980 for one-person households or $46,800 for two-person households. The project is scheduled for completion in mid-2024.