Magellan Housing, Royal American Development, And Udonis Haslem Acquire 6.3-Acre North Miami Site For Affordable Housing

The City of North Miami has sold a 6.3-acre development site located at the NW Corner of NE 6th Ave & NE 135th St in North Miami. The site was purchased by Magellan Housing, Royal American Development, and Udonis Haslem, a legendary Miami Heat basketball player, for a total of $1.5 million. The goal of this transaction is to construct affordable housing under the project named Catherine Flon Estates. The development aims to provide 174 affordable apartments and townhouses, aligning with Udonis Haslem's commitment to making a positive impact on the community.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,500,000
• Acres: 6.3
• Address: NW Corner of NE 6th Ave & NE 135th St, North Miami
• Market: North Miami

In addition to Magellan Housing and Royal American Development, Udonis Haslem, a Miami Heat legend, played a significant role in this real estate deal. The buyer's side was represented by Nick Inamdar, while the seller was the City of North Miami. The transaction was financed by the Royal American Cos.