{"id":349085,"date":"2026-07-22T21:39:10","date_gmt":"2026-07-22T21:39:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/349085\/"},"modified":"2026-07-22T21:39:10","modified_gmt":"2026-07-22T21:39:10","slug":"alonzo-mourning-housing-trust-group-nab-32-million-backing","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/349085\/","title":{"rendered":"Alonzo Mourning, Housing Trust Group Nab $32 Million Backing"},"content":{"rendered":"

NBA hall-of-famer Alonzo Mourning and Housing Trust Group scored a $55.4 million financing package for a Naranja affordable housing complex.<\/p>\n

The deal comes as the duo has racked up financing in recent years for below-market rate rentals in Miami-Dade County.\u00a0<\/p>\n

Mourning, through his AM Affordable Housing, and Coconut Grove-based Housing Trust Group plan the 115-unit Artisan Pointe project at 26115 South Dixie Highway in an unincorporated area of south Miami-Dade County. The four-story complex is under construction with completion expected in January 2028, according to the developers\u2019 news release.\u00a0<\/p>\n

The financing package includes $31.5 million in low-income housing tax credit equity, a $16.9 million permanent loan that Berkadia arranged, and $7 million from Naranja Lakes Community Redevelopment Agency, half of which is tax-increment funding, and the balance is a loan.\u00a0<\/p>\n

U.S. Bancorp provided a $39 million construction loan.\u00a0<\/p>\n

Artisan Pointe will be restricted to households earning at or less than 30 percent, 60 percent and 70 percent of the area median income.\u00a0<\/p>\n

\"ArtisanArtisan Pointe (Housing Trust Group)<\/p>\n

This puts the monthly rent for a one-bedroom apartment for those earning 30 percent of the AMI at $766, and the rent for a two-bedroom unit for households at 70 percent of the AMI at $2,145, according to the developers\u2019 news release. That\u2019s a reprieve from Naranja\u2019s average rents of $1,350 to $2,250 per month.\u00a0<\/p>\n

Miami-Dade\u2019s AMI is $89,800, according to the Florida Housing Finance Corporation.\u00a0 South Florida\u2019s median asking rent settled at $2,277 last month, Realtor.com\u2019s report shows.\u00a0<\/p>\n

The project is the first phase of AM Affordable Housing and Housing Trust Group\u2019s master-planned affordable development on a 4.3-acre site. The second phase is planned for 160 units.\u00a0<\/p>\n

An affiliate of Housing Trust Group bought the site for $10.4 million in March, records show.\u00a0<\/p>\n

Mourning, a former Miami Heat player, and Housing Trust Group have been building affordable complexes across South Florida for over a decade.\u00a0<\/p>\n

They obtained a $47 million<\/a> financing package in February for the 96-unit Villa Jordana project, restricted as affordable housing for seniors, in Hollywood.\u00a0<\/p>\n

In Miami\u2019s Overtown, they completed the 94-unit Courtside Apartments I and the 120-unit Courtside Apartments II<\/a>.\u00a0<\/p>\n

As South Florida market-rate multifamily developers are hitting the brakes on construction, amid an oversupply that\u2019s slowed lease-ups and suppressed rents, affordable and workforce housing developers are only pressing on. Demand is high amid South Florida\u2019s housing crisis which was exacerbated due to a run up in rents during the pandemic-era influx of out-of-staters.\u00a0<\/p>\n

Another prolific affordable housing developer, Atlantic Pacific Companies, has several projects pending in Miami-Dade, including a 150-unit <\/a>age-restricted development in West Perrine, a 120-unit project in Brownsville, and a 200-unit one along Northwest 79th Street.\u00a0<\/p>\n

Developers have seized<\/a> on south Miami-Dade, as Mourning and Housing Trust Group did, because of more available land at lower costs compared to Miami\u2019s urban core.\u00a0<\/p>\n

\tRead more
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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Related\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tAffordable housing\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n

Related Ross, Housing Trust seek low-interest loans from Palm Beach County<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"NBA hall-of-famer Alonzo Mourning and Housing Trust Group scored a $55.4 million financing package for a Naranja affordable…\n","protected":false},"author":2,"featured_media":349086,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[142826,225,227,226],"class_list":["post-349085","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-alonzo-mourning-affordable-housing-miami","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/349085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=349085"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/349085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/349086"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=349085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=349085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=349085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}