Miami-Dade County will celebrate the grand reopening of Ernie Martin Villas, a newly renovated mixed-income affordable housing community developed by Ten North Group.
Located at 20900 NW 14th Place, Miami Gardens, Florida 33169, garden-style community spans more than 20 acres and includes nine residential buildings with 288 one, two and three-bedroom apartments.
Originally built in 2003, the property recently underwent a comprehensive rehabilitation as part of a nearly $100 million resyndication effort including approximately $47 million in improvements. Formerly known as Villas de Lago, the redevelopment of Ernie Martin Villas was designed to serve as a cornerstone for the surrounding residential community. Residents benefit from a variety of amenities, including lush landscaping, on-site management, a resort-style swimming pool, a fitness center, a well-appointed clubhouse, a tot lot playground, an indoor activity center, picnic areas with grills, surface parking, and 24-hour emergency maintenance services.
The property also features a mini-pitch soccer field generously donated by the U.S. Soccer Foundation, providing recreational opportunities for residents and the surrounding community.
To support the redevelopment, Ten North Group assembled a diverse financing structure. Funding sources include Housing Finance Authority (HFA) Multifamily Housing Revenue Bonds—Series A (tax-exempt) and Series B (taxable)—privately placed with R4 Capital, which also served as the construction lender.
Additional financing includes Miami-Dade County Documentary Stamp Surtax Program funds ($4,896,743), State Housing Initiatives Partnership (SHIP) Program funds ($1,553,257), and an assumed HOME Investment Partnerships Program (HOME) loan from Miami-Dade County ($750,000).
Further sources include seller financing ($25,101,197), Low-Income Housing Tax Credit (LIHTC) equity provided by National Equity Fund (NEF), the project’s tax credit investor ($6,904,899), and a deferred developer fee ($8,831,421), which will be repaid from project cash flow after stabilization.
City of Miami Gardens Mayor Rodney Harris
City of Miami Gardens Councilwoman Linda Julien
Miami-Dade County District 1 School Board Dr. Steve Gallon, III
Ten North Group President & CEO Willie Logan
Ten North Group Board of Directors Chairman Nashid Sabir
Ten North Group Vice President of Government Affairs Development & Family Services Nakia Bowling
Miami-Dade Housing Finance Authority and Board of Directors Chairman Don Horn
R4 Capital Funding LLC President Jim Spound
National Equity Fund (NEF) and the AHEAD Fund Managing Director Lydia Smith