MIAMI—A once-distressed North Miami Beach multifamily complex was redeveloped as affordable housing units. Harvard House celebrated its grand reopening on Tuesday.
Carrfour Supportive Housing and the National Housing Trust (NHT) partnered on the $8 million project, which provides homes for about 140 low-income residents. Support from the U.S. Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program (NSP) offered funds to support the project. NSP aims to revitalize neighborhoods that have been negatively impacted by properties that were foreclosed upon or abandoned as a result of the recession.
“Harvard House is a perfect example of how the federal government’s NSP program is breathing new life into local communities,” says Stephanie Berman, president of Carrfour Supportive Housing. “Beyond providing much-needed housing for families and individuals in need, we rescued an asset from distress, thus injecting new life into a deteriorating neighborhood. We are not only rebuilding apartments, we are rebuilding an entire community.”
Located at 2020 NE 169th Street in North Miami Beach, Harvard House offers 56 affordable housing units designated for families earning at or below 50% of the area’s median income. Harvard House marks the first of three NSP2-funded redevelopment projects undertaken by Carrfour in Miami. Carrfour was part of the Miami-Dade County NSP consortium that was granted $89 million in funding through the program. All told, HUD has allocated $6.82 billion to NSP1, NSP2, and NSP3 grantees across the country.
Carrfour has spent $17 million in federally-granted NSP2 funds on the acquisition, renovation and redevelopment of three separate formerly-distressed Miami-Dade properties. The organization’s remaining two projects—Tequesta Knoll and Hampton Village—are set to deliver by 2014, with all three newly-converted affordable housing communities providing homes for nearly 800 low-income men, women and children in the area.