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 was deferred by the Housing Committee on 7/14/2026 to the 10/14/2026 meeting. The lease term is 99 years with projected County revenue of approximately $21,000,000.00 ($21,145,998.12) in development fees and rental income. The development 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. Units are for households at or below 120% of Area Median Income (AMI). The developer is Pine Development, LLC. File Number: 261132. The resolution waives Resolution No. R-407-19 requiring public notification prior to non-competitive lease of County-owned property. The Federal Transit Administration has issued written concurrence. The developer must incorporate the HIA-LINE project in coordination with the City of Hialeah. The Housing Committee deferred the item due to concerns about affordability at 120% AMI, lack of consultation with the new Hialeah administration, and absence of a community benefits package.