Miami Dade County recently issued the following announcement.
Fair Oaks Apartments brings urban sensibility together with affordability to the Leisure City Community Urban Center
Mayor Daniella Levine Cava joins Commissioner Danielle Cohen Higgins in celebrating the grand opening of Fair Oaks Apartments: South Miami-Dade's newest affordable housing community. Fair Oaks Apartments brings 124 housing units with an urban sensibility and affordability to the Leisure City Community Urban Center.
"I am excited to see this new project become a reality in the district I used to represent and that I still call home. Our community needs more housing options like these that are affordable and sustainable," says Miami-Dade Mayor Daniella Levine Cava. "As our County continues to grow and welcome newcomers, ensuring all residents have equal access to housing that offers proximity to transportation, employment opportunities, and quality of life is a top priority."
“I welcome Fair Oaks Apartments to our South Dade community. Now more than ever, we need more affordable housing in Miami-Dade County. By bringing forward innovative housing options, such as Fair Oaks Apartments, I hope to not only create housing opportunities for our current South Dade residents, but also for future South Dade families,” said Commissioner Danielle Cohen Higgins. “In addition to the new affordable housing Pilot Program I sponsored starting in District 8, which will allocate $9 million towards creating more affordable and attainable homes, I am also working on introducing more creative affordable housing solutions to South Dade.”
Taking full advantage of its location as an anchor within the Leisure City Community Urban Center, residents can enjoy access to public transit through the South-Dade Busway, three supermarkets, a pharmacy, day care, and county parks, all within a five to ten-minute walk. Residents can also enjoy an on-site leasing/management office, club room and fitness center. Besides greater density and walkability, Fair Oaks features other eco-conscious measures such as car charging stations for electric cars. Units have impact windows, energy star appliances, and there is a generator for the elevator and common areas.
Fair Oaks Apartments features 120 affordable units with rents for a 1 bedroom / 1 bathroom apartment ranging between $413 to $956, and rents for a 2 bedroom / 2 bathroom unit ranging between $496 to $1,148. Prices are set between 60% area median income (AMI) and 28% AMI, extremely low income (ELI). Fair Oaks also features seven units set aside for persons with special needs, with three of those units meeting hearing/visual impaired standards.
To gain an understanding of how affordable these units are, a single person must earn less than $37,980 (60% AMI) or $17,724 (28% AMI). A couple must earn less than $43,440 (60% AMI) or $20,272 (28% AMI). A family of three must earn less than $48,840 (60% AMI) or $22,792 (28% AMI). A four-person family must earn less than $54,520 (60% AMI) or $25,312 (28% AMI). And, a five person family must earn less than $58,620 (60% AMI) or $27,356 (28% AMI).
Miami-Dade County contributed $2.1 million through a construction/permanent loan from HOME/HODAG funds.
Original source can be found here.
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