STORY HIGHLIGHTS
• McDowell Housing Partners begins $56 million second phase of Southpointe Vista.
• Phase I delivered 124 affordable units, nearly 100% leased.
• Phase II will add 208 affordable apartments by 2026.
Fresh off completing the Southpointe Vista affordable apartments in southern Miami-Dade County, McDowell Housing Partners has commenced construction of the second phase with another $56 million in financing.
The Miami-based developer is investing $122 million in the two affordable apartment complexes on 3.46 acres at the northeast corner of Southwest 214th Street and Southwest 117th Court in the Goulds neighborhood.
Southpointe Vista Phase I has been delivered with 124 units and 196 parking spaces in 10 stories. The apartments are designated for people earning 30%, 60% or 70% of area median income.
The median household income in Miami-Dade is $79,400, according to HUD.
Amenities include a community room, a laundry room, a cybercafe, a fitness center and a roof terrace. The developers broke ground on it in 2023, with the support of $50 million in financing.
McDowell Housing Partners Chief Operating Officer Chris Shear said the first phase is nearly 100% leased.
“We remain committed to addressing the housing crisis in Miami-Dade County as we roll right into the construction of Phase II,” Shear said.
McDowell Housing Partners is working with the same architect, Miami-based REPRTWÄR Architecture and Design, and the same general contractor, a joint venture between MHP Builders and Davie-based ANF Group, for the second phase. Southpointe Vista Phase II will have 208 affordable apartments in 12 stories. Amenities will include a fitness center, game room, media center, cybercafe, and bocce ball court.
The second phase should be completed in the third quarter of 2026.
“This project embodies our commitment to delivering high-quality, affordable housing in South Florida,” said Al Fernandez, CEO of ANF. “Southpointe Vista offers modern amenities and thoughtfully designed residences without sacrificing affordability.”
The financing for the second phase includes $42 million in multifamily mortgage revenue bonds through the Housing Finance Agency of Miami-Dade County and Newpoint Real Estate Capital, a $9.22 million SAIL loan from the Florida Housing Finance Corp., a subordinate $4.24 million construction-to-permanent loan from an affiliate of the developer, and a $750,000 loan from FHFC through its National Housing Trust Fund program. In addition, First Horizon Bank provided $29.6 million in tax credit equity for the developer.
The developer purchased the land for $7 million in 2022.
