On Wednesday, Preservation of Affordable Housing (POAH), broke ground on a $52.7 million affordable housing project in Cutler Bay, Florida. This visionary initiative aims to add 113 affordable housing units to the area, providing hope and relief to families facing the pressing challenge of finding affordable homes. Meridian Point, located in Goulds Station, will be POAH’s first venture in Florida. The organization has already managed 1,477 apartments under its ownership, making Meridian Point a promising addition to their portfolio.
The ground-breaking ceremony for the $52.7M affordable housing project in Cutler Bay was graced by the presence of Miami-Dade County Mayor Daniella Levine Cava, who expressed the significance of this project in addressing the county’s affordable housing needs. With rent burdens soaring and housing options scarce, many families allocate more than half of their incomes to housing expenses. Meridian Point aims to alleviate some of these struggles by offering purpose-built affordable housing units to those in need.
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Meridian Point will offer 113 housing units, catering to diverse income levels within the community. Of these, 45 units will be available to households earning up to 80% of the area median income. While 68 units will receive Project-Based Rental Assistance through Section 8 Housing contracts, providing vital support for low-income families.
Completion Date for POAH Affordable Housing Project in Cutler Bay
With construction underway, Meridian Point is projected to be completed by the end of summer 2024. The anticipation surrounding this transformative affordable housing project has ignited hope and optimism in the hearts of current and future residents, promising a brighter future for Cutler Bay’s community.
Meridian Point will stand at the junction of SW 216th Street and US 1. The mid-rise structure will feature 80 units, while a garden-style building will offer 33 units. In addition to comfortable living spaces, residents will have access to recreational areas, a modern fitness center. And inviting community spaces, fostering a sense of belonging and well-being. The location’s strategic design also ensures easy access to public transit, leisure facilities, and nearby shops, promoting a convenient and connected lifestyle for all residents.
