NuRock proposes 130-unit affordable apartment project near Opa-locka

NuRock Companies proposes a 130-unit affordable apartment project near Opa-locka, marking its second planned development in the area.

Alpharetta, Georgia-based NuRock wants to develop the L-shaped building, called Heritage at Gratigny Park, on a nearly 1-acre vacant lot on the southwest corner of Northwest 120th Terrace and Northwest 27th Place in unincorporated Miami-Dade County, according to a company filing submitted to the county this month. The area is largely industrial.

NuRock is asking Miami-Dade for a zoning verification, which is generally requested to determine specifics on development regulations governing a property and whether it has outstanding violations. The firm’s application also shows that it plans to seek funding from the Florida Housing Finance Corporation, a quasi-governmental entity that disburses financing for affordable and workforce housing development, including low income housing tax credits. FHFC usually requires a zoning verification from the municipality or county where a project will be built.

Nearby, NuRock plans another 130-unit multifamily building under the Live Local Act, a state law that incentivizes the development of below-market rate apartments by awarding property tax breaks to developers and allowing them to build larger projects. The 11-story Residences at West View Landing is planned for the southeast corner of Northwest 27th Avenue and Northwest 123rd Street in an unincorporated area of the county. All units will be designated for households earning up to 80 percent of the area median income, which exceeds the Live Local Act requirement that 40 percent of units are for tenants earning up to 120 percent of AMI.

NuRock paid $2.6 million for the 0.6-acre, two-lot Residences at West View Landing development site in May, according to records.

The Heritage at Gratigny Park development site is owned by an entity tied to Bay Harbor Islands-based real estate development and investment firm Art + Tec Development, led by Gabriel Boano and Paula Lowenstein Boano.

In 2021, Art + Tec proposed an eight-story, 168-unit apartment building on the property, according to media reports. Construction never started, records show.

NuRock is a multifamily development and management firm primarily focusing on affordable housing. Robert Hoskins is managing principal.

In Pompano Beach, NuRock developed the 92-unit Crystal Lake complex at 350 Northeast 32nd Court, and the 116-unit Heritage at Pompano Station building at 400 North Flagler Avenue. Both apartment developments include affordable units.

Last year, NuRock completed the 140-unit Residences at Naranja Lakes with a pair of five-story buildings at 27550 South Dixie Highway in south Miami-Dade’s Leisure City neighborhood.

In Hollywood, NuRock plans a 134-unit apartment project for low-income families at 6015 Washington Street. Hollywood commissioners voted in 2022 to lend $640,000 to NuRock in support of its application to FHFC.

Affordable housing developers remain insulated from market downturns due to unceasing demand for below-market rate apartments, especially in Miami-Dade where many remain priced out of market-rate apartments. Developers also can use LIHTC, government subsidies and grants that could improve their financial returns.

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