DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

Resolution approving a development and lease agreement with Pine Development, LLC for a 36-unit affordable housing development on 1.24 acres of County-owned property within the Metrorail right-of-way at the intersection of East 21st Street and East 4th Avenue in Hialeah, Florida. The project includes a four-story building with 36 residential units (each approximately 500 square feet) and approximately 1,500 square feet of ground floor retail space. The lease term is 99 years with projected County revenue of approximately $21,145,998.12. The status is Deferred as of the Housing Committee meeting on 7/14/2026. The resolution waives public notice requirements under Resolution No. R-407-19. The Federal Transit Administration has issued written concurrence. The units will be rented to households at or below 120% of Area Mean Income for the full 99-year term. The developer must complete construction within five years of the award or rights revert to the County. The annual development fee is $37,000.00 until lease execution, then initial annual rent of $37,000.00 with a 3% annual increase starting in the third lease year. The property is in Commission District 6, represented by Commissioner Natalie Milian Orbis, who is the Prime Sponsor. The item was introduced on 6/22/2026 and the agenda date is 11/17/2026. The requester is Transportation and Public Works. The County Attorney assigned is Bruce Libhaber. The report notes 'DTPW - No sponsor - pending July cmte - County attorney Bruce Libhbaer - attachments: attachment C- pgs 378'. No public comment or stakeholder sentiment is stated in the document.