Housing Trust Group, AM Affordable Housing Secure Financing And Break Ground On 95-Unit Affordable Senior Community ‘Oasis at Aventura’

Housing Trust Group (HTG) has secured financing and initiated construction on Oasis at Aventura, a new $37 million, 8-story affordable senior community with 95 apartments at 18700 Northeast 25th Avenue in Miami-Dade County’s Ojus neighborhood. The community is the latest joint venture between HTG and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning.

Apartments will be reserved for income-qualifying residents aged 62 and older who earn at or below 25, 33, and 60 percent of the area median income (AMI). Monthly rents will range from $484 to $1,161. Construction commenced in November 2023, and the property is expected to be completed by Spring 2025.

“There’s a significant need for affordable housing as the North Miami and Aventura area undergo a residential building boom and a wave of infrastructure improvements to meet the community’s needs for its growing population,” said Matthew A. Rieger, President and CEO of HTG. “As rental rates continue to escalate, we are thrilled to be contributing to the community’s demand for top-quality and affordable housing that is in close proximity to the best South Florida has to offer.”

Oasis at Aventura will feature 95 generously sized one-bedroom units. Residents will have access to an array of amenities, including a spacious multipurpose community room, a state-of-the-art fitness center, business center, library and lounge area, and featured amenities on the expansive outdoor terrace. The National Green Building Standard Certified property will also have energy-efficient lighting and appliances. The property is ideally located near Aventura Mall and the new Brightline Aventura Station, with short commutes to Publix, The Fresh Market, and Walgreens, surrounded by the many new upcoming developments in the Ojus Neighborhood.

Residents will also benefit from complimentary on-site programs, including Resident Assurant Check-Ins, assistance with light housekeeping, grocery shopping, laundry, and various community events and activities.

Funding sources include $21 million in 9% Low-Income Housing Tax Credits (LIHTC) equity syndicated through Raymond James, a construction loan of $19.3 million provided by JP Morgan Chase Bank, a permanent Freddie Mac loan of $7.5 million through Berkadia, a Florida Housing Finance Corporation Viability Loan of $4.3 million and a loan of $2.4 million from the Miami-Dade County Affordable Housing Surtax Program.

The design and construction team for Oasis at Aventura includes Realization Architects, general contractor Ballast Construction, engineer Sun-Tech Engineering, Inc., interior design by B Pila Design Studio, and landscape architecture by Witkin Hults + Partners.

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10 Comments on "Housing Trust Group, AM Affordable Housing Secure Financing And Break Ground On 95-Unit Affordable Senior Community ‘Oasis at Aventura’"

  1. Where do I apply

  2. Very happy for the news of the project of building housing affordable for low income seniors in a great city as Aventura. I am very interested in becoming one of the residence in that project. Please let me know how can I get into the waiting list.

  3. Debbie Haber-Joseph | November 8, 2023 at 6:00 pm | Reply

    Most interested …
    Debbie Haber-Joseph

  4. I am very interested. How do I apply? February 12, 2024. 6:38 pm.

  5. Gloria Rodriguez | February 13, 2024 at 6:55 am | Reply

    I would like to apply for one of the apartments as resident in Oasis at Aventura.

  6. Gloria A Rodriguez | February 13, 2024 at 7:04 am | Reply

    I would like to apply please let me know.

  7. Gloria A Rodriguez | February 13, 2024 at 7:08 am | Reply

    I am interested in being a new resident at Oasis at Aventura, pls let know how do I apply?

  8. I am interested. I would like to apply

  9. Estoy super interesado, quiero saber como aplicar a estas viviendas

  10. Alfredo Morejon | February 13, 2024 at 6:18 pm | Reply

    Necesito Saber donde se aplica,si me pueden orientar.

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