DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

The Housing Committee deferred a resolution to October 14, 2026, that would approve 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 was originally proposed as senior housing but changed to affordable housing at 120% AMI. The lease is for 99 years with projected revenue of approximately $21,145,998.12. The item was deferred due to concerns about affordability, lack of consultation with the new Hialeah administration, and absence of a community benefits package. The resolution waives public notice requirements under Resolution No. R-407-19. The development will include a four-story building with 36 units of approximately 500 square feet each and about 1,500 square feet of ground floor retail. The developer will pay an annual development fee of $37,000.00 until lease execution, then annual rent of $37,000.00 for the first two lease years, increasing by 3% annually thereafter. The project must incorporate the HIA-LINE project in coordination with the City of Hialeah. The Federal Transit Administration has issued written concurrence. The item was deferred to the October 14, 2026 Committee meeting.