Related Group Breaks Ground on Phase II of $650M River Parc Project in Miami’s Little Havana
MIAMI — The Related Group, along with the Department of Public Housing and Community Development and SunTrust Bank, has broken ground on Phase II of River Parc in Miami’s Little Havana neighborhood. Phase II consists of the 150-unit Gallery at River Parc, an affordable and workforce housing community. Of the property’s 40 studios, 70 one-bedroom units and 40 two-bedroom apartments, 80 percent will be reserved for workforce housing and 20 percent will be set aside for affordable housing. Communal amenities will include a swimming pool, fitness center, multi-purpose room and a business center. Justin Ginsberg, Donna Kelce and Rebecca Cox of SunTrust arranged financing on behalf of Related Group for the 22-acre River Parc, which is situated across from Marlins Park. The site currently has 800 units across three properties: Robert King High, Haley Sofge and Martin Fine Villas. River Parc is slated to also include an additional 1,800 units of affordable and workforce housing units will be added, bringing the total housing count to 2,600.