A proposed affordable housing project planned for an 18-acre city-owned lot in Allapattah could benefit from tax increment financing since its inclusion in the recently expanded Omni redevelopment agency boundaries.
In July, the City of Miami authorized the continued existence of the Omni Community Redevelopment Agency (Omni CRA) throughout 2047 with increased area spanning 2,730 acres in Allapattah. Included in the new land is the sprawling General Services Administration (GSA) site, a location the CRA says could serve as a crucial driver for economic development and boost the city’s supply of workforce housing.
Last September, city commissioners approved a Request for Proposals (RFP) following an unsolicited offer from NR Investments Inc. to develop the GSA lot. Located at 1950 NW 12th Ave. and 1970 NW 13th Ave., the property includes the city Department of Solid Waste, the General Services lot, the Public Works Department, the Parks and Recreation Department and Fire Station 5.
The deadline for proposals closed in December 2022. It is unclear how many responses the RFP received, but a bid has not been awarded yet.
However, efforts are still being pursued to revamp the expansive site. A 2023 Omni CRA Plan Update report detailed a summary of public input that found support for several ongoing projects, including the GSA site. The report states it could serve as an important catalyst for the neighborhood’s redevelopment.
The total estimated cost is listed at $5 million through 2027 for a workforce housing development to rise at the site. Since the property’s inclusion in the expanded CRA area, the project is eligible for Tax Increment Financing (TIF).
Source: Miami Today