Miami-Dade County commissioners approved on March 19 several measures that advance major development projects in the area, including a proposed taxing district to fund infrastructure at Miami Freedom Park and new residential developments in south Miami-Dade.
The decisions are significant as they pave the way for more affordable housing options and support large-scale mixed-use projects, which could impact local residents and the county’s growth.
Developers of Miami Freedom Park received preliminary approval to establish a Community Development District (CDD) that would finance $129.5 million in infrastructure improvements such as roads, water management systems, and landscaping. CDDs are commonly used to fund infrastructure at large developments by issuing bonds repaid through special assessments. The project is led by Jorge and José Mas along with retired soccer player David Beckham, and will feature a 25,000-seat stadium for Inter Miami CF, retail space, offices, dining areas, a hotel with 750 rooms, and a 58-acre park. The stadium is expected to be completed this year. Commissioners approved the ordinance on first reading; a public hearing and second vote are scheduled for April 21.
In addition to the stadium project, Atlantic Pacific Companies plans to build 101 affordable and workforce apartments in West Perrine through the federal Rental Assistance Demonstration (RAD) program. This marks the third phase of redevelopment for Perrine Gardens and Perrine Village public housing complexes. The county will lease the site to Atlantic Pacific under a 99-year term in exchange for $17 million in payments from ground lease fees, cash flows, developer fees, and other sources. Of the planned units, half will replace existing public housing apartments while others will serve households earning between 30 percent and 140 percent of area median income. Amenities will include a computer lab, gym, game room, art installations in common areas, and open spaces.
Homebuilder Lennar also received approval for an over-200-unit residential project called Breezewood in Princeton. The plat approval formalizes boundaries for an 18.5-acre parcel where Lennar plans to construct condos and villas with prices starting at $485,000 according to its website. TPG Angelo Gordon owns the land after purchasing it last summer; Lennar uses land banks like TPG to reserve property until ready for construction.
These approvals reflect ongoing efforts by developers and local officials to address housing needs while supporting economic development through large-scale projects.
