Signs of life are emerging for AJ Capital Partners and Swerdlow Group’s massive redevelopment project in Miami’s Little River neighborhood. The redevelopment project is advancing to Miami-Dade’s Board of County Commissioners on April 1st, after the housing committee voted unanimously for the project to move forward. Plans began last year, when the Swerdlow Group responded to a WOPR initiated by the country, requiring the redevelopment of blighted county land for housing, retail, and more under the Rental Assistance Demonstration program.
The Swerdlow Group’s ambitious redevelopment plan will deliver 5,730 housing units to Little River, as well as 370,000 square feet of commercial space, office space, schools, a new Tri-Rail station, and around 250,000 square feet of pedestrian-orientated green space. Units will be situated in towers of around 20 floors: a reduction from the original vision of varied heights pictured last year. In agreement with Miami-Dade’s workforce and affordable housing priorities, the project will also exclude market-rate units, instead developing 3,446 workforce condominiums and 2,284 affordable rentals.
Housing will be available in various layouts, including studio, one-bedroom/one-bath, two-bedroom/one-bath, two-bedroom/two-bath, three-bedroom/two-bath, four-bedroom/two-bath, and five-bedroom/two-bath configurations. The average SF per unit will be 683 SF, with the maximum unit size being 2,212 SF, ideal for large families. Residents will have access to free internet for three years, swimming pools, outdoor recreation for children, bike parking, playgrounds, and more.
As part of the redevelopment, 314 new RAD units will replace the existing public housing units poised for demolition at Victory Homes, New Haven Gardens, Gwen Cherry Properties, and Newberg. Phase 1 will deliver 691 affordable units, including the 314 RAD replacements, ensuring all necessary units are built to prevent public concerns regarding displacements. Current RAD residents will be able to transition directly into the new units in 1 day without prolonged displacement. According to the Miami Herald, Swerdlow anticipates breaking ground on Phase 1 next year.
Outside of Miami-Dade’s land given to Swerdlow through a 99-year ground lease, the company is also investing significant money into the area with private capital. These off-site parcels will create 2,100 market rate units, 293,000 SF of retail space, and office space. To better picture the plans, all workforce and affordable housing units under Miami-Dade land is drawn in red and yellow, while off-site investment provided by the Swerdlow group is in blue.
Fears of gentrification have plagued Little River and Little Haiti development projects for years, especially regarding the Magic City Innovation District which oversaw waves of protests throughout its planning stages. Swerdlow emphasized his plans to make the district a “real neighborhood” with a mix of incomes according Miami Herald. Time will tell if the neighborhood proves a success for everyone in the community.
The project is estimated to create 3,840 new construction jobs and 518 permanent jobs. Likewise, the Swerdlow Group is complying with the federal Section 3 program, providing 30% of the 518 permanent jobs to those with low or very low income brackets.