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 (each approximately 500 square feet) and approximately 1,500 square feet of ground floor retail space. The lease term is 99 years with projected County revenue of approximately $21,145,998.12. Status is Deferred. Introduced 6/22/2026. Housing Committee deferred on 7/14/2026. Agenda date 11/17/2026, agenda item 8N. File number 261132. Applicant/developer is Pine Development, LLC. Sponsor is Natalie Milian Orbis. The resolution waives public notice requirements of Resolution No. R-407-19 and Implementing Order 8-4. The Federal Transit Administration has issued written concurrence. Units will be rented to households at or below 120% of Area Mean Income for the full 99-year term. Annual development fee of $37,000 until lease execution, then annual rent of $37,000 for first two lease years, increasing 3% annually from the third lease year. Developer must complete construction within five years of award or rights revert to County. No public comment sentiment is stated in the document.