Construction has started on Rainbow Village, a mixed-use affordable housing complex in Miami. The 310-residence development will offer studio to four-bedroom homes, with the project itself comprising close to 700,000 square feet of new construction.
Yield PRO shares that residency will be available to those earning at or below 30, 50, 60, 70, and 80 percent of the area median income (AMI), meaning that monthly rent would be capped at $2,634. Miami-Dade County records report that the AMI is currently $79,400.
The venture will offer residences and retail. Image by HTG
Rainbow Village will feature more than 50,000 square feet of amenity space, including a resort-style swimming pool, children’s playground and daycare, and more. Residents will also have access to assistance programs centered around laundry, grocery shopping, and community events.
In addition to the residential aspect, Rainbow Village will have about 12,000 square feet of retail and 442 parking spots. Housing Trust Group (HTG) is the developer. ANF Group, the general contractor, intends to complete Rainbow Village in the first quarter of 2027. It’s expected to cost $185 million to complete. Zyscovich, Inc. is the architect, and Kimley-Horn is the civil engineer.
Rainbow Village will be located at 2000 NW 3rd Ave, Miami, FL, 33127, in Miami-Dade County.
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