Cost overruns, delays: Atlantic Pacific seeks affordable housing loan from Miami-Dade

Facing construction delays and higher costs on some of its projects, Atlantic Pacific Companies is turning to Miami-Dade County.  Miami-based Atlantic Pacific, one of South Florida’s most prolific developers of affordable and workforce housing, is asking the county for a $3.8 million loan to help cover unexpected construction cost overages for three projects with 470 units, combined. The financing proceeds will come from funds Atlantic Pacific previously repaid to the county in connection to an already completed project.  Miami-Dade commissioners will vote Tuesday on whether to redeploy Atlantic Pacific’s repayment of the $3.8 million surtax in the form of a […]This article originally appeared on The Real Deal. Click here to read the full story.