Grove Prosperity Partners LLC, an entity comprising a church, non-profit organization, and developer, is seeking funds for an affordable housing development in Coconut Grove.
Grand Bahamas Place is slated to include two buildings: a five-story structure featuring 56 condos and a two-story building that would offer 2,950 square feet of retail and 4,000 square feet of religious/community space. There would also be nine parking spots.
The residential aspect would feature 56 condos. Image by Borges Architects
The condos would span one-bedroom and two-bedroom floorplans, measuring 400 to 650 square feet. Residency would be reserved for those earning up to 80 percent of the area median income (AMI); Miami-Dade County records share that a one-person household could earn no more than $63,550 a year to qualify.
Grand Bahamas Place is estimated to cost $21.3 million to complete; the developer is currently seeking $4.2 million in funds from the Miami Forever Bond. The build site comprises three parcels. Believers of Authority (one of the entities under Grove Prosperity Partners LLC) owns two of them. The organization is under contract to purchase the third parcel for $2.2 million.
Grand Bahamas Place would occupy 3655 and 3659 Grand Ave., plus 3650 Florida Ave, Miami, FL, 33133, in Miami-Dade County.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Amazing!!! I can wait to leave there
I really hope you get the founding