Related Urban Nears Debut of $200M Miami Affordable Housing Project
Related Urban is just days from delivering The Residences Claude Pepper, a new 428-unit community in Miami’s Allapattah neighborhood, developed on a 99-year ground lease with Miami-Dade County.
Rising 15 stories at 702 NW 18th Terrace, the 312,992-square-foot high-rise will provide a mix of affordable, workforce, and supportive housing, including residences for households earning between 20% and 80% of the Area Median Income (AMI).
The roughly $200 million development was supported through $107 million in Florida Housing Multifamily Mortgage Revenue Bonds, approximately $74 million in 4% LIHTC equity from Wells Fargo, a $3 million SAIL loan from the Florida Housing Finance Corporation and a $3 million sponsor loan from RUDG Investor, LLC.
Amenities include a fitness center, co-working lab, multipurpose room, package room, bike storage and a private landscaped courtyard with a BBQ area and tot lot.
The development also includes a roughly 4,400-square-foot community center. Completion is expected in Q3 2028.
Connect Texas Multifamily in Dallas on August 13 brings together the owners, developers, brokers, investors, and lenders shaping the future of Texas multifamily for a day of market intelligence, networking, and actionable insights. Join 300+ decision-makers and be part of the conversations driving the Texas multifamily market. Register today: www.ConnectTXMF2026.com.
Other News
Developer Duo Pursuing $600M Dallas Hotel, Residential Project
Developers Jonas Woods and 3-O Real Estate Partners have proposed a $600 million, two-tower project called Ivy Park and The English on a 2.2-acre parcel near McKinney and Webb Avenues along the Katy Trail. The Dallas Morning News reports the project could have both a 30-story hotel and residential tower and a 20-story residential tower...
Learn more
Transwestern, Newquest Advancing Kyle Mixed-Use Project
Transwestern and NewQuest are advancing an approximately 101-acre mixed-use development in Kyle, Texas, that will bring together retail, hotel and multifamily uses. The duo has formed a joint venture and commenced construction on the retail portion of the development, Kyle Park, marking the next phase of the broader project. Retail will serve as the central aspect...
Learn more
Leon Multifamily Building 343-Unit N. Phoenix Venture
Leon Multifamily started construction on Soltra Ironwood, a 343-unit luxury multifamily community in North Phoenix, Arizona. The nearby Taiwan Semiconductor Manufacturing Corporation has committed to a total of $265 billion in Arizona investment across up to 10 fabrication facilities, two advanced packaging plants, and a research and development center — a build-out expected to support...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout