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 revenue to the County of approximately $21,145,998.12. The Housing Committee deferred the item to the October 14, 2026 Committee meeting. Concerns raised included lack of consultation with the new Hialeah administration, affordability at 120% AMI, the project being changed from senior to affordable housing, and the absence of a community benefits package.