Edison Place

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.

Edison Place

651 NW 58th Street, Miami, FL

Units

100

Year

1989/90

Cost

47M

Ownership Interest

100%

Revamp

2020-2022 (+100 units)

Classification

Workforce Housing