(Read more on the multifamily market.)
MIAMI-Construction has started on Allapattah Village, a$60-million project that will include 200 units of affordablehousing on top of a 27,000-sf YMCA. The two-phase project will becompleted in summer 2009.
The project is being developed by YMCA of Greater Miami, CoconutGrove, FL-based Carlisle Development Group and locally basedBiscayne Housing Group, whose principals are Michael Cox andGonzalo DeRamon. The residential development will rise at theintersection of NW 17th Avenue and NW 23rd Street in the Allapattahneighborhood, which is in the northwest quadrant of the city. TheJackson Hospital and fruit packing and warehouse district arelocated close to the project. "This is an older, working classneighborhood that has seen little investment over the past fewyears," Cox tells GlobeSt.com.
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