HCLC Regular Meeting, March 25, 2026
Approves Gallery at Loomis Park Updated Senior Financing, unanimous
What happened
The Miami Housing Commercial Loan Committee approved consent to sale and assumption of affordable housing loans for three Little Haiti properties (Lafayette Square at 150 NE 79th St, Lafayette Plaza at 155 NE 78th St, and Emerald Terrace at 244 NW 72nd Terrace) being acquired by…
- Jurisdiction
- Miami, FL
- Governing body
- Final authority
- Date
- March 25, 2026
- Decisions
- 7 zoning decisions
- Outcome
- Approved, unanimous
Free sample: decision 1 of 7
Lafayette Square Sale and Loan Assumption
Approved consent to sale and assumption of $949,938 HOME loan and $1,050,062 CDBG loan for Lafayette Square, a 19-story 160-unit multifamily building at 150 NE 79th Street in Little Haiti, from Gatehouse Group to GH Lafayette Square LP (Starwood Capital affiliate). New CBRE Freddie Mac first mortgage of $22,312,500 approved. 11 HOME-assisted units and 149 CDBG-assisted units with affordability period through October 2035.
- All loan terms remain the same; affordability covenants remain in place through 2035
The other decisions are listed below by title. The full write-up, verbatim conditions, and the audio at each vote are in Pro.
Meeting Summary
The Miami Housing Commercial Loan Committee approved consent to sale and assumption of affordable housing loans for three Little Haiti properties (Lafayette Square at 150 NE 79th St, Lafayette Plaza at 155 NE 78th St, and Emerald Terrace at 244 NW 72nd Terrace) being acquired by…
Key Decisions (7)
Lafayette Square Sale and Loan Assumption
Lafayette Plaza Sale and Loan Assumption
Emerald Terrace Sale and Loan Assumption
Casa Valentina Subordination
Dulce Vita Timeline Extension
View 29 Updated Senior Financing
Gallery at Loomis Park Updated Senior Financing
Development Activity (7)
Lafayette Square
Residential
Lafayette Plaza
Residential
Emerald Terrace
Residential
Market Signals (5)
Housing Demand
Starwood Capital Group, described as the largest reported owner of…
Commercial Demand
Wynwood area south of 2901 NW 2nd Avenue described as…
Infrastructure
Construction cost inflation, labor shortages, supply chain issues, and higher…
Meeting Intelligence Preview
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