DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

A resolution to 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 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 revenue to the County of approximately $21,000,000.00 ($21,145,998.12) in development fees and rental income. The development was originally proposed as senior housing but was changed to affordable housing. The Housing Committee deferred the item to the October 14, 2026 Committee meeting. Concerns were raised about the 120% AMI affordability level, lack of consultation with the current City of Hialeah administration, and the absence of a community benefits package. The item was introduced on 6/22/2026, and the agenda date is 11/17/2026.