Developers are responding to the lull in the sale of luxury housing by specializing in a segment long ignored: housing designed for South Florida’s workforce.
A firm based in Georgia has teamed with a Coral Gables developer to form Urbanice LLC, a company which will build work-force housing in Little Havana. The name of the new company comes from the Spanish word for urbanize.
Four projects are already in the works, and will be the new players on the South Florida real estate scene. The complexes, El Colonial, Puerto Nuevo, Aqua Briza and Los Jardines, will add nearly 300 units to the market for real estate in Miami and Little Havana and. The buildings will have varied amenities, including rooftop entertainment deck, spa, and meditation garden.
Preconstruction prices for the projects range from the high $100,000’s to the low $300,000s. Government employees and hospital employees will be eligible for discounts on units.
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