DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

The Housing Committee deferred Resolution 261132, which 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 involves a 99-year lease with projected revenue of approximately $21,000,000.00. The deferral was to October 14, 2026, following concerns from commissioners about the 120% AMI affordability level, lack of a community benefits package, and the need to consult the new Hialeah administration. The project was originally proposed as senior housing but changed to affordable housing. The development will include a four-story building with 36 units of approximately 500 square feet each and approximately 1,500 square feet of ground floor retail space. 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 three percent annually thereafter. The resolution waives public notification requirements under Resolution No. R-407-19. The Federal Transit Administration has issued written concurrence for the project. The developer must complete construction within five years of award or rights revert to the County. The project includes provisions to implement the HIA-LINE project in coordination with the City of Hialeah.