On Dec. 12, the Dallas, TX-based company announced that it has partnered with New Urban Development, “Miami’s largest Black-owned real estate developer,” according to a press release. As a way to tackle the housing crisis in South Florida, T.D. Jakes Real Estate Ventures and New Urban Development are set to build two affordable housing developments, one in Hallandale Beach, FL, and one in Miami Gardens, FL.
“Florida continues to grow and the need for more living options is at an all-time high,” Marcus Dawson, managing partner of T.D. Jakes Real Estate Ventures, shared in a press statement. “It is our mission to create the necessary alliances that help address the most glaring issues like affordable housing. New Urban Development shares our vision for community transformation for seniors and underserved populations, and their accomplishments in South Florida model what development should look like in our communities.”
The press release shares that in Hallandale Beach, the construction will be for a multifamily, mixed-income development consisting of 200 units, while the Miami Gardens project will be for senior citizens and have 150 units.
“The relationships and access to funding sources through T.D. Jakes Real Estate Ventures will help us expand the work we’ve been doing to improve the housing options in overlooked and underserved neighborhoods of Miami-Dade County and surrounding areas,” Oliver Gross, president of New Urban Development, said. “We all believe in a holistic approach to community revitalization that values transformation over transactions and incorporates education programs, financial literacy and other resources to residents.”
So far, the Hallandale development is set to start in the beginning of 2024.
