Integra Investments, EHDOC Complete $58M Affordable Housing Community for Seniors in Miami

by John Nelson

MIAMI — A joint venture between Miami-based Integra Investments and nonprofit Elderly Housing Development & Operations Corp. (EHDOC) has completed Mosaico, a $58 million affordable housing community in Miami. The 13-story property will span 271 apartments reserved for households with citizens aged 62 years and older. Located at 1396 NW 36th St. in Miami’s Allapattah neighborhood, Mosaico features 179 one-bedroom units and 92 studios and townhomes. Designed by CC Hodgson Architectural Group, Mosaico’s amenities include a large community space, fitness center, computer lab, library, onsite management offices and a rooftop community garden. Integra Investments and EHDOC worked alongside HUD, the Housing Finance Authority of Miami-Dade County, City of Miami and Miami-Dade Public Housing & Community Development, which administered HUD project-based vouchers. Mosaico was financed with 4 percent Low-Income Housing Tax Credits (LIHTC) issued by Florida Housing Finance Corp. and syndicated by Boston Financial, as well as a $45.5 million tax exempt bond issuance from the Housing Finance Authority of Miami-Dade County that was underwritten by R4 Capital.

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