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 of approximately 500 square feet each 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 status is Deferred, with the Housing Committee deferring the item on 7/14/2026. The applicant is Pine Development, LLC. The case file number is 261132. The resolution waives public notice requirements under Resolution No. R-407-19. 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 Federal Transit Administration has issued written concurrence. The item was introduced on 6/22/2026 and the agenda date is 11/17/2026. No public comment or stakeholder sentiment is stated in the document.