Over 300 affordable units on tap in Brownsville, Naranja amid market-rate multifamily glut

More than 300 affordable apartments are on tap in two Miami-Dade County projects, as developers turn to the asset class that promises quicker leaseups than market-rate multifamily.  In Brownsville, Redwood Dev Co, Magasi Management and Lennar are taking the preliminary steps to redevelop a portion of the Annie Coleman public housing complex with 180 apartments and 39 villas, according to filings to the county. Farther south, in the Naranja neighborhood, affordable housing developer Lewis Swezy filed an application for a 112-unit senior affordable housing building.  Affordable housing construction relies on a mixed bag of capital stacks that include government grants […]

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