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Groundbreaking of Tuscany Cove Apartments, a New Affordable Rental Building in Liberty City

(Miami, FL February 8, 2017) - City of Miami Commission Chairman Keon Hardemon will join Miami-Dade County Commissioner Audrey Edmonson and Carol Gardener, President of the non-profit Tacolcy Economic Development Corporation (TEDC) on Friday, February 10, 2017, 10:00 a.m., at 5900 NW 7 Avenue, for the official groundbreaking of Tuscany Cove Apartments, a planned six-story affordable rental building that will offer 160 new units for low-income seniors once completed.

The groundbreaking commemorates the start of work on the $34 million development, which will take shape on just over 1.5 acres of land in Liberty City that the City of Miami transferred to the development team of TEDC and Red Stone Equity Partners, specifically for the creation of additional affordable housing. Planned on-site amenities at the building when it opens in 2019 will include an outdoor courtyard, a large community room, a laundry facility and a small computer/library room. Its ground floor will feature around 8,300 square-feet in commercial space.

The City of Miami, via its Department of Community & Economic Development, is providing $880,000 in HOME (federal) dollars to the building. Other funding sources include $3.3 million in Surtax funds via Miami-Dade County, $3.7 million from the State of Florida and another $13.97 million is tax credit equity. Chase Bank is providing the construction loan.

Tacolcy Economic Development Corporation was incorporated in 1982 and has completed some 2,500 affordable units. For more information on Tuscany Cove Apartments please call (305) 757-3737.

WHO: City of Miami Commission Chairman Keon Hardemon, Miami-Dade County Commissioner Audrey Edmonson and Carol Gardner, President of the non-profit Tacolcy Economic Development Corporation, along with Board Members
 
WHAT: Groundbreaking Ceremony for Tuscany Cove Apartments, a new affordable rental building for seniors that is starting construction in Liberty City

WHEN: Friday, February 10, 2017, 10:00 a.m.

WHERE: 5900 NW 7 Avenue
Miami, FL


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