651 NW 58th Street, Miami, FL
Edison Place– a 200-unit apartment complex in Miami, Florida on 3.91 acres– is comprised of two four-story buildings and one, newly constructed 100-unit building. The two original buildings were constructed in 1990 and each building is comprised of 50, two-bedroom floor plans.
Total rehabilitation began in 2020 and included the addition of one eight-story building featuring one- and two-bedroom floor plans. Planned for completion in July 2022 and targeted to families earning between 30% and 80% of the area’s median income, the total rehab costs were funded using FHFC SAIL, Miami-Dade County Surtax, Miami-Dade County HOME ($250,000), LIHTC equity, and a Bank of America Construction loan.
Amenities onsite include a community room, playground and basketball court, and laundry facilities. In addition, literacy training, employment assistance, and financial management programs will be offered on the property to all residents.