After gaining approval for Miami-Dade’s largest affordable housing project in the county’s history, the Swerdlow Group is back with another mega-project, this time under a joint venture coined ‘SG Ponciana Ventures’. The partnership, backed by Michael Swerdlow of the Swerdlow Group, Stephen Garchik of SJM Partners, and Alben Duffie, are seeking approval for a land deal with Miami-Dade that would deliver around 40 acres of retail, housing, and industrial uses to suburban Miami-Dade. The development of county-owned land will proceed in three phases within close proximity of Metrorail service, providing alternative transit routes to the new residents and workers.
Phase 1 will deliver 155 affordable housing units for seniors earning up to 60% of the area median income, along with two retail spaces designed to attract both national and local tenants. It will also include 251,000 SF of industrial space for MedLog, an affiliate of the Mediterranean Shipping Company: the world’s largest shipping container operator. MedLog’s facility is expected to create approximately 300 logistics and supply chain-related jobs.
Phase 2 will add a 110,000 SF small-bay industrial facility and 175 affordable and workforce housing units for residents earning between 60% and 120% of the area median income. The final phase, Phase 3, will feature a 479 unit mixed-income residential building, another 110,000 square feet of industrial space, and 15,000 SF dedicated towards Unite Here HEAT. Unite Here HEAT will be a training facility offering workforce re-entry training, restaurant space, immigration services, and language classes.
Residents no matter the building will have access to high-speed WIFI, a communal swimming pool, adequate parking for vehicles, parking areas for bicycles, a washer and dryer in every unit, as well as other modern amenities. While already existing, the Frederica Wilson Community Health Center will be doubled in size to accommodate the demands of the community.
The deal between Miami-Dade and the developers will consist of a proposed purchase of MedLog’s industrial site for $33 million, deducting costs for environmental cleanup and improvements. In addition, for every affordable housing unit constructed, the developer must pay the County $5,000 per unit until closing, 15% of net cash flow from operations, and 30% of all developer fees for units constructed under the Low-Income Housing Tax Credit Program. Workforce and market-rate housing will also pay the county $5,000 per unit, but only 10% of net cash flow from operations.
Arquitectonica and Bruce Retzsch are the main architects of the project, while Coastal Construction will serve as the general contractor. Although phasing is still preliminary, the project is estimated to take 7 years or around 80 months once permitting commences.