The push for more affordable housing in Miami-Dade has materialized in West Perrine. On Tuesday, July 22nd, Integra Investments along with key Miami-Dade officials like Mayor Daniella Levine Cava and Kionne L. McGhee held a groundbreaking ceremony for Hibiscus Grove. The project, which is a part of a growing trend toward greater density along the South Miami-Dade Busway, will deliver 270 fully affordable units to South Miami-Dade.
Units will range from one-, two-, and three-bedroom units, aimed at providing housing for households earning 30%, 60%, or 80% of the Area Median Income. On the ground floor of the development, community benefits do not stop. There will be roughly 5,000 SF of retail space and a 2,700 SF community center leased to the West Perrine Community Redevelopment Agency.
The project’s financing was made possible in large part by support from Miami-Dade County, which awarded $5 million in Documentary Stamp funds. The West Perrine CRA also contributed a $2 million loan and $1 million in Tax Increment Financing.
The groundbreaking comes as Miami-Dade’s prepares to launch the county’s first all-electric Bus Rapid Transit line, known as the South Dade Transitway. Located just steps from Hibiscus Grove, the new transit option will provide affordable housing residents with a reliable alternative to car travel.
It’s important to note, however, that Floridian Development first reported on Hibiscus Grove last year following a proposal to amend unit counts from 270 to 300. That amendment also included a height increase from 10 to 11 floors and additional parking. Despite this, more recent renderings displayed on-site, coupled with county-issued press releases still citing 270 units, suggest that Integra may have opted to scale back toward the original plan. While the 300-unit ASPR amendment remains approved, the available evidence points to a return to the 270-unit proposal.
According to Miami-Dade permitting, all permits filed for the building have already been issued. The building is estimated to cost $40 Million once all is said and done.