New $115 million Naranja Grand brings 320 affordable units to south Miami-Dade

Amid the region’s severe housing affordability crisis, a new $115 million residential development might bring relief to families and seniors in south Miami-Dade County and the Florida Keys.

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The new development, Naranja Grand I and II, provides housing and resort-style amenities for both families and seniors over 55 with rents starting under $500 a month in south Miami-Dade. The development includes 320 income-restricted apartments for seniors and working families.

On Monday morning, the Housing Trust Group and Miami Lakes-based Elite Equity Development, Inc. hosted a grand-opening ceremony to mark the completion of the development. The developers were joined by Miami-Dade Mayor Daniella Levine Cava and District 9 Commissioner Kionne L. McGhee.

The construction of the large housing development comes as the county’s shortage of affordable rental homes stands at about 70,000 to 90,000 units.

Matthew A. Rieger, president and CEO of Housing Trust Group, said “too many of our neighbors are living paycheck to paycheck and barely getting by,” noting Miami recently surpassed New York as the nation’s most expensive metro area.

He said many residents, especially seniors on fixed incomes, “are leaving Miami altogether.”

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“Affordable communities this large are rare and complex to build, but with 320 apartments and rents as low as $471 per month, this multiphase community has thrown a true lifeline to hundreds of Miami residents — working adults, seniors, children — who desperately need a safe, clean and affordable place to live,” Rieger said.

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The Naranja Grand is located at 28150 and 28050 SW 147th Avenue and includes two eight-story residential buildings.

Tammy Haylock-Moore, managing director at J.P. Morgan, said in a statement “every family deserves a quality, affordable place to call home, and Naranja Grand delivers exactly that for hundreds of households in Miami-Dade County.”

“By providing the construction financing for this development, we’re helping expand access to affordable housing in one of the country’s fastest-growing markets,” Haylock-Moore said.

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This report was produced by Miami Herald news partner WLRN Public Media.