New Apartments On The Way In Coconut Grove
Affordable housing is on the way to the West Grove, offering people a new option as gentrification changes the historic neighborhood with Bahamian roots.
Across from the Douglas Road Metrorail Station, the mixed-income community Platform 3750 has been under construction since early May, said Lenny Wolfe, a partner at the Hollywood-based development firm Cornerstone Group. Cornerstone Group partnered with the U.S. Department of Housing and Urban Development, Miami-Dade County and the city of Miami five years ago on the project.
The eight-story Platform 3750 will add 191 rental units at 3750 S. Dixie Hwy., with 78 units leased to those earning less than 60% of the area median income. The remaining 113 units will be rented at market rate. The Miami, Miami Beach and Kendall metro area has a median income of $61,000 for a family of four, according to 2021 data from HUD.
The affordable housing units will range from a 500-square-foot studio at $800 per month to a 1,000-square-foot two bedroom, two bathroom unit at $1,234 per month. The market rate units will vary from $1,280 per month for a studio to $3,060 per month for a two-bedroom, two-bathroom unit.
Amenities include a gym, pool, yoga room and co-working spaces.
Discount grocer Aldi, a Starbucks and office space will occupy the first floor. The project is anticipated to create about 60 permanent jobs, according to Cornerstone Group.
The $90 million project is slated to open during the fourth quarter 2022.
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