MIAMI-At a meeting today, commissioners from Miami-Dade County are expected to discuss and possibly vote on the proposed transfer of four affordable housing projects from Carlisle Development Group.
The proposal to transfer the four projects comes as Carlisle is reportedly under investigation by a federal grand jury for allegedly defrauding the US government by overcharging on construction costs in order to secure higher tax subsidies to finance more than a dozen rental apartment projects in Dade and Broward counties, according to the Miami Herald.
The four projects-the Seventh Avenue Transit Village, the Northside Transit Village, Island Living and Lincoln Gardens-would be assigned to Atlantic|Pacific Community Housing Development of Miami from Carlisle Development Group. In July, Atlantic|Pacific agreed to purchase Carlisle's affordable-housing division. The deal does not include 25 existing county developments, totaling 2,855 public-housing units, according to Miami-Dade County.
Carlisle's affordable-housing business will become A|P Communities and be headed by Kenneth Naylor —the former COO of Carlisle. See story in the Miami Herald.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.