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 applicant is Pine Development, LLC. The case file number is 261132. The resolution waives Resolution No. R-407-19 requiring public notification prior to non-competitive lease of County-owned property. The Federal Transit Administration has issued written concurrence. The development will be rented to residents with household incomes at or below 120% of Area Mean Income for the full 99-year term. The property is in Commission District 6, represented by Commissioner Natalie Milian Orbis, who is the Prime Sponsor. The resolution was introduced on 6/22/2026 and the agenda date is 11/17/2026. The developer will pay an annual development fee of $37,000.00 until execution of the lease, then annual rent of $37,000.00 for the first two lease years, increasing by three percent annually from the third lease year. The developer must complete construction within a maximum of five years from the award date or rights revert to the County. The developer must submit detailed construction plans for DTPW approval to ensure no negative impact on Metrorail operations. The property was acquired with partial federal funding. The developer will implement and incorporate the HIA-LINE project in coordination with the City of Hialeah. No public comment or stakeholder sentiment is stated in the document.