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, and parking and green space under the Metrorail guideway. The 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 three percent annually from the third lease year. Total projected revenue to the County is $21,145,998.12. The units will be rented to households with incomes at or below 120% of Area Mean Income for the full 99-year lease term. The Federal Transit Administration has issued written concurrence. The item was deferred by the Housing Committee on 7/14/2026. The resolution waives Resolution No. R-407-19 requiring public notification prior to non-competitive lease of County-owned property. The property is in Commission District 6, represented by Commissioner Natalie Milian Orbis, who is the Prime Sponsor. The item was introduced on 6/22/2026, with an agenda date of 11/17/2026 as agenda item 8N. The applicant is Pine Development, LLC. The case file number is 261132. The status is Deferred. The resolution was assigned to County Attorney Bruce Libhaber on 6/23/2026. The staff recommendation is to approve. The document does not state any public comment or stakeholder sentiment. The document does not state a specific street address or parcel/folio number. The document does not state a zoning change, as the property is County-owned Metrorail right-of-way. The document does not state a specific dollar amount for the project cost, but states projected revenue to the County of approximately $21,000,000.00 and specifically $21,145,998.12. The document does not state a specific construction timeline beyond a maximum of five years from award for completion. The document does not state a specific business opportunity beyond the development and lease agreement.