Transformative $3 Billion, 63-Acre 'Little River District' Led by SG Holdings Approved Paving Way For Miami's Largest Affordable Housing Development

The Miami-Dade County Commission has granted final approval for SG Holdings’ Little River District, a transformative $3 billion, mixed-use development that will redefine the urban landscape of Miami’s underserved Little River and Little Haiti neighborhoods. Spanning 63 acres, the large-scale project aims to build more than 5,700 affordable and workforce housing units, alongside major big-box retail stores, small businesses, major grocery operator, green public space, and transit infrastructure with the addition of a new train station, marking a historic investment in Miami’s future.

Led by SG Holdings, a joint venture comprised of Swerdlow Group, SJM Partners, and Alben Duffie, the partnership stands at the forefront of affordable housing development, following its successful delivery of the 1.5 million-square-foot, mixed-use development Sawyer’s Walk featuring 578 affordable senior housing units in Miami’s historic Overtown neighborhood.

The Little River District project is considered the largest affordable housing development in Miami-Dade County’s history. It will feature 2,284 affordable housing units at an average 60% Area Median Income (AMI), 1,398 workforce rental units at up to 120% AMI, in addition to 2,048 potential workforce condo units, which would allow the buyers to obtain significant subsidies to meet the purchase price at up to 140% AMI, ensuring long-term housing stability for thousands of Miami-Dade residents. Current residents of existing public housing complexes situated within the development site are guaranteed the right to return to new units at Little River District with no increases in rent.

This transit-oriented project is made possible through immense private and public sector collaboration led by the development group SG Holdings along with public sector partners: Miami-Dade County’s Department of Housing and Community Development (HCD), U.S. Department of Housing and Urban Development (HUD), the City of Miami, and key local officials such as Miami-Dade Mayor Daniella Levine Cava, County Commissioner Keon Hardemon, and City of Miami Commission Chairwoman Christine King.

“This approval is a major milestone in addressing Miami’s critical need for affordable and workforce housing,” said Michael Swerdlow, Founder and CEO of Swerdlow Group. “At a time when population growth is fueling demand for housing and everyday services, the Little River District will deliver a community that prioritizes affordable and quality housing, accessibility to public transit, and economic opportunity for local residents and business owners with the goal of generating prosperity for the highly deserving communities of Little Haiti and Little River.”

Given that portions of the 63-acre site are owned by the County, the public-private partnership paves the way for this comprehensive housing-led development plan that includes leveraging federal tax credits to support affordable housing and collaborating with Miami-Dade under a Community Benefits Agreement (CBA) to drive local hiring and community investment. The Little River District project is set to create hundreds of jobs during construction and after, stimulating the local economy and supporting businesses within the area. With a half century track record of responsible development, SG Holdings remains committed to working with construction partners who uphold labor standards and prioritize job site safety during the course of this multi-year project.

Designed by renowned architecture firm Arquitectonica, the mixed-use and mixed-income housing development will also introduce more than 370,000 square feet of retail space, including commitments already secured from major retailers such as Home Depot and BJs. In addition, the project will feature a major supermarket, gas station, food and beverage options, and other essential retail services for the neighborhood. About 250,000 square feet of publicly accessible green space will span the project, fostering a walkable and sustainable urban pedestrian-friendly environment with improved pedestrian walkways, enhanced landscaping and beautification, bike paths and shuttle service for residents.

The Little River District will also prioritize transit accessibility with a planned new Tri-Rail train station, representing a significant $35 million investment being made by SG Holdings in Miami’s public transportation network. This development will reduce congestion, improve accessibility, and foster better connectivity within the project site and the broader urban core.

The residential communities planned within the affordable and workforce housing component will feature amenities including swimming pool, computer lab with printer access, fitness center, outdoor recreation space for children, bike parking, green outdoor space with pavilions and walking and bike paths, free Wi-Fi in common areas, onsite-property management, gated parking lot with restricted access, generators for the community spaces, and security cameras with car plate readers. In addition, the high-quality residences will include in-unit washers and dryers, granite countertops, dishwashers, refrigerators with ice makers, central air and smart fan systems, electric water heaters, tile floorings, and complimentary high-speed internet for three years.

Additionally, the major redevelopment is going to generate significant job creation locally. Approximately 3,840 jobs will be generated during the project’s construction and another 518 permanent positions once delivered. The impactful project will prioritize local hiring preferences for both the construction and permanent jobs, including low-income and public housing area residents. Also, the County will reap approximately $9.5 billion through this project – the largest revenue sharing pact of this kind in the County’s history. The County could use these revenues to support its efforts to address the affordable housing crisis in Miami-Dade and invest in community development, inclusive of supporting small businesses.

Construction is expected to begin in 2026, with a projected development timeline of eight years. Once completed, the Little River District will stand as a model for large-scale, community-driven redevelopment centered on creating affordable and workforce housing, exemplifying how public-private collaboration can drive meaningful, long-lasting transformation in an urban setting.

1.5M SF Mixed-Use Development Sawyer’s Walk Delivers Target in Miami's Overtown

Sawyer’s Walk, the largest mixed-use development in the historic community of Overtown, recently opened its retail section, marked by the launch of a 50,000-square-foot Target store. Over the next several months, additional major retailers are set to open, including Burlington, Five Below, Aldi supermarket, and Ross Dress for Less.

The 1.5 million-square-foot Sawyer’s Walk complex includes 578 residential units, primarily housing low-income seniors, as well as 175,000 square feet of retail space, a 25,000-square-foot public plaza, and 130,000 square feet of office space. MSC Group has secured the office space for its new North American headquarters, anchoring the development at 249 NW 6th St. The project was spearheaded by SG Holdings, a partnership between Swerdlow Group, SJM Partners, and Alben Duffie.

Among the new retail spaces, Burlington is scheduled to open in October with a 38,000-square-foot store. A 25,000-square-foot Aldi and a 10,000-square-foot Five Below will follow in November, while Ross Dress for Less is expected to open in March 2025.

Sawyer’s Walk was developed as a public-private partnership in collaboration with the City of Miami’s Southeast Overtown/Park West Community Redevelopment Agency, Miami-Dade County’s Department of Public Housing and Community Development, and city and county officials. The project aims to address both affordability and accessibility concerns in Greater Downtown Miami by delivering affordable residential options and value-focused retail stores.

The development also includes amenities designed to enhance the community, such as a public plaza with art murals, outdoor seating, a children’s playground, and a dog park. Residents and shoppers will have access to nearly 1,000 parking spaces and multiple public transit options, including Metrorail, Metromover, and Brightline.

Led by Michael Swerdlow, Swerdlow Group has been active in bringing new retail options and affordable housing to South Florida. The company has over 8,000 affordable housing units in the pipeline, with a focus on revitalizing underserved areas and addressing food access in designated ‘food deserts.’ Swerdlow Group’s portfolio includes over 30 million square feet of residential, retail, industrial, and office space developed across the region.

Housing Trust Group Delivers Flagler Station Affordable Apartment Community in West Palm Beach

Housing Trust Group (HTG), a developer of market-rate and affordable housing, has completed Flagler Station, a new $33 million affordable apartment community located in downtown West Palm Beach, Florida. It is the first new affordable apartment community to be built in the city’s downtown in 30 years.

A public-private partnership between HTG, the City of West Palm Beach and Palm Beach County, Flagler Station features 94 apartments reserved for residents earning no more than 30, 60, 70 or 80 percent of area median income, with rents ranging from $393 to $1,689. The property is ideally located just one block from the Florida TriRail/Amtrak station and five blocks from the Brightline commuter rail station connecting West Palm Beach with the cities of Miami, Fort Lauderdale, and Orlando.

The developer hosted a grand-opening ceremony with partners to commemorate the milestone on Monday, August 7. Speakers included Matthew A. Rieger, President and CEO of HTG; City of West Palm Beach Mayor Keith A. James and District 3 Commissioner Christy Fox, State House Representative Jervonte ‘Tae’ Edmonds; District 88, Executive Director Jonathan Brown from Palm Beach Housing & Economic Development Department, and Board Chairman Mario Facella of Florida Housing Finance Corporation.

“With a thousand people moving into Florida each day, investment in affordable housing has never been more essential,” said Rieger. “Flagler Station will provide much-needed housing for West Palm Beach’s service workers, first responders, teachers, and other lower-wage workers who play vital roles in the city’s economic success, but simply can’t find adequate, well-priced apartments near their jobs.”

According to Marcus and Millichap, the average rent in West Palm Beach jumped by more than 40 percent since the end of 2020, to $2,432 per month in March 2023. Sticking to the 30 percent rule, an individual or family would need to earn close to $100,000 per year to comfortably afford rent in the city.

"We extend our heartfelt gratitude to Housing Trust Group for their unwavering commitment to bringing affordable housing to the City of West Palm Beach. This partnership marks a significant milestone in our journey towards a more inclusive and vibrant community. We eagerly anticipate the positive impact this development will have on the City and its residents," said City of West Palm Beach, Mayor Keith A. James.

Located at 991 Banyan Boulevard, Flagler Station is an eight-story, high-rise property with a mix of one-, two- and three-bedroom apartments. Community amenities include a 3,200-square-foot, double-high multi-purpose clubroom, a computer/business center, a rooftop pool, a state-of-the-art fitness center, and on-site parking.

Named after Henry Flagler, the 19th-century industrialist who built the Florida East Coast Railway (FECR), Flagler Station’s site includes some of the original, now defunct FECR tracks, which have been incorporated into the development as part of a linear park featuring original artwork and murals. The City’s intent is to build out this park along the rest of the rail right of way to make it a true “rails to trails” conversion. This supports a transportation and mobility plan that the City adopted in 2018 featuring an integrated system of bike lanes, busways, train stations, trolley routes, sidewalks, and roads to reduce car traffic and make the city more pedestrian-friendly.

The building’s architectural design echoes the “brutalist” style that characterized the Old West Palm Beach City Hall, now demolished, and the Federal Courthouse buildings. With its partner, Corwil Architects, along with city officials, HTG delivered a design that is both contemporary and historic in its aesthetic. Archways were incorporated into the building facade to showcase structural elements, while giving reference to the Beaux Arts architecture of Grand Central Terminal.

Financing sources for Flagler Station include $23.27 million in 9% low-income housing tax credits through the Florida Housing Finance Corporation (FHFC) that were purchased by CREA; a $20.3 million construction loan from KeyBank; an $8.93 permanent loan through Freddie Mac; a $75,000 City of West Palm Beach loan; a $314,446 Palm Beach County grant; and a $550,000 HOME loan from Palm Beach County.

The project team for Flagler Station is general contractor Rinaldi Construction, engineer and landscape designer WGI, Inc., architecture firm Corwil Architects, and interior designer B. Pila Designs.

Images via Tony Tur

Spec Home Developer Todd Michael Glaser Under Contract To Buy Jeffrey Epstein’s Former Palm Beach Mansion

Spec home developer Todd Michael Glaser is under contract to buy Jeffrey Epstein’s former Palm Beach waterfront mansion from his estate with plans to demolish the mansion and replace with a new home. Glaser’s undisclosed sum is rumored to be around $18 million, lower than the original listing in July for $21.995 million. The 6-bedroom waterfront mansion is a famous location for Epstein committing sex-trafficking crimes and luring underage girls. 

The Palm Beach mansion is located at 358 El Brillo Way and the listed exclusively with Kerry Warwick of the Corcoran Group. Glaser plans to knock down the existing home and build a 14,000 sq.ft. Art Moderne mansion. He expects the town of Palm Beach to be happy with his plans to demolish the existing home. 

Miami Heat Star Udonis Haslem And Magellan Housing Score Approval To Build Wynwood Works On City Owned Land

A partnership between Haslem Housing Ventures, led by Miami Heat star Udonis Haslem, and the Coral Gables-based Magellan Housing, have received approval from Miami’s Omni Community Redevelopment Agency (CRA) to build Wynwood Works, a 12-story mixed-use apartment project in Wynwood. Wynwood Works will be built on city owned land at 2035 North Miami Avenue.

The development partnership will receive a land grant from the CRA valued at $6.5 million at no charge and a contribution of $9.9 million cash grant in exchange for 50 years of income restrictions on the apartments. The total project costs are estimated at $39.9 million and with the grands provided by the CRA the development partnership will not need to seek Low-Income Housing Tax Credits (LIHTC). In 2018 the Omni CRA committed $100 million to the development of affordable housing. The development partnership will restrict 10% of the units to those earning up to 30% of the area median income (AMI), an additional 10% of units to those earning up to 50% of AMI, another 10% to those earning up to 80% of AMI, 25% up to 120% of AMI and the remaining 45% for those earning up to 140% of AMI. The partnership will also share 45% of the annual rental income from the ground-floor retail.

Wynwood Works will rise 12-stories and will feature 104-units of mixed-income apartments on a 20,238 square foot site. The project is designed by MC+G Architecture and will feature a mural designed in partnership with the Miami Light Project and Bakehouse Art Complex. Wynwood Works will also feature 6,711 square feet of ground-floor retail, 102 parking spaces and a sixth-floor amenity deck which features a fitness room, co-working space, a community room and a garden. Apartments will range from 405 square foot studios to 1,150 square foot 3-bedroom layouts. The unit mix will be broken down by 42 studios, 43 one-bedroom units, 12 two-bedroom units and 7 three-bedroom units.

Governor Ron DeSantis Announces $250 Million In CARES Act Funding Allocated For Rental And Mortgage Assistance

Florida Governor Ron DeSantis has announced that the state will allocate $250 million in CARES Act funding to rental and mortgage assistance due to the COVID-19 pandemic shutdown. $120 million of the funds will be allocated to Florida Housing Finance Corp. which will provide rental assistance to households who live in affordable housing rentals within the Florida Housing Finance Corp. portfolio and have been impacted by COVID-19. Qualified renters will be able to use the funds from July 2020 through December 2020. The announcement comes just days before Florida’s moratorium on evictions and foreclosures expires and a rush of evictions and foreclosures are expected in July.

An additional $120 million will be allocated for rental and homeowner assistance programs for those impacted by COVID-19 providing aid for rent assistance, mortgage payment assistance, downpayment and closing assistance, mortgage buy-downs, new construction, rehabs, emergency repairs and homeownership counseling. The final $10 million will be used for operating costs of the programs and technical assistance.