Legacy Residential Group Plans 50-acre Workforce Housing Complex Near Florida City

Legacy Residential Group and CD Group aim to breathe life into a 50.5-acre site near Florida City, planning a residential complex known as Legacy Villas at Palm Drive. Located on the southeast corner of Southwest 344th Street and Southwest 199th Avenue in unincorporated Miami-Dade County, this upcoming townhouse complex is set to increase access to housing in the region. With 309 units on the horizon, the developers are seeking approval to transform the initial apartment concept into a vibrant townhouse community.

Reimagining Legacy Villas

The acquisition of the site in 2021 for $6.3 million by the developers and their affiliate marks a new chapter for Legacy Villas. The townhouses are planned to cater to a diverse income bracket, with the majority aimed at households earning up to 120% of the area median income. Additionally, 10% of the units are allocated for households falling within the range of 60% to 140% of the AMI. Within this allocation, half of the units are earmarked for households with incomes up to 110% of the AMI.

The AMI Landscape in Miami-Dade

Miami-Dade’s current annual AMI stands at $74,700, a figure expected to undergo revision this spring. These statistics shed light on the income landscape that the future residents of Legacy Villas will navigate, offering a glimpse into the economic diversity that will characterize this vibrant community.

Exploring New Horizons

Together with Fenix Contractors, a proposal was put forth for a 630-unit multifamily complex. Nestled at the southeast corner of Southwest 252nd Street and Southwest 145th Avenue, this development comprises 14 buildings varying in height between three and four stories. Spearheaded by Tom Cabrerizo and Mauricio Cayon, the project signifies a significant stride in their portfolio.

A Thriving Opportunity

South Miami-Dade, encompassing Florida City, Homestead, Princeton, Naranja, Leisure City, and Goulds, is expected to undergo a housing boom. Amidst the allure of discounted prices outside the bustling urban core, developers are capitalizing on this potential, acquiring parcels and submitting ambitious project proposals, illustrating a keen eye for opportunities in this evolving landscape.