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. Introduced 6/22/2026, Housing Committee deferred on 7/14/2026, agenda date 11/17/2026. The resolution waives public notice requirements under Resolution No. R-407-19. The Federal Transit Administration has issued written concurrence. The developer must complete construction within five years of award or rights revert to the County. Units will be rented to households at or below 120% of Area Mean Income for the full 99-year term.