On Wednesday, March 25, Miami-Dade County Mayor Daniella Levine Cava, Miami-Dade County District 3 Commissioner Keon Hardemon, City of Miami Mayor Eileen Higgins and City of Miami District 5 Chairwoman Christine King will break ground on Yaeger Plaza, a new affordable housing development located at 1177 NW 62 Street in Liberty City.
Yaeger Plaza is a planned mixed-income, mixed-use residential community developed by Integral Group. The project is situated on a key urban infill site consisting of ten contiguous parcels totaling approximately 1.25 acres. The development will revitalize the surrounding neighborhood while honoring the historic legacy of the former Yaeger Clinic.
The mid-rise residential building will include structured parking and 135 affordable and workforce apartments homes designed to serve families across a range of income levels. Residences will feature energy-efficient appliances, LED lighting, low-flow plumbing fixtures, low-VOC paint, and environmentally sensitive native landscaping. Unit layouts are designed to maximize comfort, functionality and sustainability. The project will receive National Green Building Standard (NGBS) Green certification from Home Innovations Research Labs.
Community amenities will include a resident swimming pool, pocket park, fitness and wellness centers, multipurpose community rooms, a rooftop terrace for resident gatherings, and spaces designed to encourage neighborhood engagement.
The project will be financed through a combination of tax-exempt bond financing issued by the Miami-Dade County Housing Finance Authority, 4% low-income housing tax credits, $3.75 million in Florida Housing Finance Corporation (FHFC) State Apartment Incentive Loan (SAIL) funding, $1.85 million in FHFC National Housing Trust Fund (NHTF) financing, $2.5 million in Miami-Dade County Documentary Stamp Surtax funds, and $3.0 million in City of Miami General Obligation Bond funds. The development program has been intentionally structured to maximize residential density and cost efficiency while delivering high-quality affordable housing in partnership with the City of Miami.
City of Miami Chairwoman and District 5 Commissioner Christine King
Miami-Dade County Director of Housing and Community Development Nathan Kogon, AICP
The Integral Group President of Real Estate Vicki Lundy Wilbon
The Integral Group Principal Kareem Brantley
The Yaeger Companies Chief Executive Officer Ivan Yaeger
Berkadia Managing Director of Affordable Housing Jeff Lawrence
Bank OZK Affordable Housing Lending Relationship Manager Patrick Russell