Major Affordable Housing Expansion: Atlantic Pacific Unveils 375-Unit Development in Miami's Historic Overtown

Miami's Affordable Housing Portfolio Grows with Ambitious Overtown Development

In a significant move to address Miami's ongoing housing affordability crisis, Atlantic Pacific Companies has submitted plans for a substantial 375-unit affordable and workforce housing development in Miami's historic Overtown neighborhood. The Boca Raton-based developer aims to construct an eight-story residential complex that will include 10,000 square feet of ground-floor commercial space and a 421-space parking garage, according to documents filed with Miami-Dade County in early May 2025.

The proposed development will occupy a portion of a 4.1-acre county-owned parcel at 800 Northwest Fifth Avenue, strategically positioned near the Culmer Metrorail station. This transit-oriented location enhances the property's appeal for residents who rely on public transportation, making it an ideal site for affordable housing. Atlantic Pacific currently holds a lease agreement with Miami-Dade County for the property, enabling this development to move forward.

Income Targeting and Neighborhood Impact

While the exact income brackets haven't been specified in the application, traditional affordable and workforce housing developments typically cater to households earning between 30% and 120% of the area median income (AMI). With Miami-Dade County's current AMI standing at $87,200 per year according to the Florida Housing Finance Corporation, this development would provide crucial housing options for families earning approximately $26,160 to $104,640 annually.

The project represents a significant expansion of affordable living options in a neighborhood that has historically faced challenges with gentrification and displacement. By introducing hundreds of income-restricted units, the development aims to preserve Overtown's cultural legacy while providing quality housing for long-time residents and essential workers who otherwise might be priced out of the rapidly appreciating Miami market.

Atlantic Pacific's Growing Overtown Footprint

This new proposal builds upon Atlantic Pacific's existing commitment to the Overtown area. Led by CEO Howard D. Cohen, the company began construction last year on another affordable housing development at the same address – a seven-story, 239-unit project also situated on a portion of the 800 Northwest Fifth Avenue property.

When combined, these two projects will bring a total of 614 affordable and workforce housing units to the neighborhood, making Atlantic Pacific a major contributor to Miami's affordable housing inventory. This clustered development approach allows for economies of scale in construction and management while creating a critical mass of new housing that can help revitalize the surrounding community.

A Developer with a Mission: Atlantic Pacific's Affordable Housing Portfolio

Atlantic Pacific has established itself as one of South Florida's most prolific developers of affordable and workforce housing. The firm frequently collaborates with Miami-Dade County to redevelop publicly-owned land into much-needed housing resources.

In addition to their Overtown projects, Atlantic Pacific is actively developing affordable housing throughout Miami-Dade County:

• In Kendall, the firm has partnered with nonprofit Casa Familia to develop the Village at Casa Familia, a 124-unit apartment complex planned for 9 acres at 11025 Southwest 84th Street in unincorporated Miami-Dade.

• In 2022, county commissioners approved a landmark deal for Atlantic Pacific to lease and redevelop four public housing complexes. This ambitious project will transform properties currently containing just 150 units into vibrant communities with 605 income-restricted apartments.

• The company is also developing Atlantic Square, a stunning 36-story tower with 616 apartment units located at 152 Northwest Eighth Street, also on county-owned land in Overtown. According to the project's information line, preleasing for this development is scheduled to begin in September 2025.

Strategic Public-Private Partnerships Driving Housing Solutions

Atlantic Pacific's continued collaboration with Miami-Dade County exemplifies the power of public-private partnerships in addressing critical housing needs. By leveraging county-owned land, these partnerships allow for the development of affordable housing in areas where land costs would otherwise make such projects financially unfeasible.

This development model has proven successful in creating thousands of new affordable housing units throughout Miami-Dade County. The county benefits from increased housing stock without capital expenditure, while experienced developers like Atlantic Pacific bring expertise in financing, constructing, and managing affordable communities.

As Miami continues to face escalating housing costs and growing demand for affordable options, these strategic partnerships represent one of the most effective tools for expanding housing access across various income levels.

Insights: Understanding Miami's Affordable Housing Landscape

Why is Overtown becoming a focal point for affordable housing development? Overtown's proximity to downtown Miami, existing public transportation infrastructure, and availability of publicly-owned land make it strategically positioned for affordable housing development. Additionally, as a historically Black neighborhood with cultural significance, there's a community interest in ensuring development benefits existing residents rather than displacing them.

How does transit-oriented affordable housing benefit residents? Transit-oriented developments like this Atlantic Pacific project provide residents with easy access to public transportation, reducing transportation costs and commute times. For lower-income households, the combined savings on housing and transportation can represent a significant improvement in financial stability and quality of life.

What makes public-private partnerships effective for affordable housing? These partnerships leverage the strengths of both sectors – government contributes land and regulatory support, while private developers bring financing ability and development expertise. This model allows for the creation of affordable housing without requiring massive public capital investment, making it possible to develop more units faster.

How do mixed-use elements enhance affordable housing developments? The inclusion of 10,000 square feet of commercial space in this project creates opportunities for neighborhood services, retail, and potentially job creation. Mixed-use affordable developments help create vibrant, walkable communities where residents can access goods, services, and employment opportunities close to home.

What impact will these developments have on Overtown's future?

With Atlantic Pacific's combined projects bringing over 1,200 new housing units to Overtown, the neighborhood is poised for significant revitalization. These developments will increase population density, support local businesses, and potentially attract additional investment while providing stable housing for hundreds of working families.