DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

Resolution approving a Development Agreement and 99-year Lease Agreement between Miami-Dade County and Pine Development, LLC for a 36-unit affordable housing development on 1.24 acres of County-owned vacant 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, approximately 1,500 square feet of ground floor retail space, parking and landscaped green space under the guideway. Units will be rented to households at or below 120% of Area Mean Income for the full 99-year lease term. Developer will pay an annual development fee of $37,000 until lease execution, then annual rent of $37,000 for the first two lease years, increasing by 3% annually from the third year. Total projected revenue to the County is $21,145,998.12. The resolution waives Resolution No. R-407-19 requiring public notification prior to non-competitive lease of County-owned property. Status is Deferred. Introduced 6/22/2026. Housing Committee deferred on 7/14/2026. Agenda date 11/17/2026. Sponsor: Natalie Milian Orbis. Requester: Transportation and Public Works. No public comment sentiment is stated in the document.