Multi Housing News May 2013 : Page 8

local report Formerly Distressed Harvard House Re-opens after Major Renovation By Georgiana Mihaila, Associate Editor BEFORE AFTER Image courtesy of Schwartz Media Strategies A formerly distressed North Miami Beach apartment community recently re-opened after undergoing an $8 million redevelop-ment process led by nonprofi t affordable housing developers Carrfour Supportive Housing and the National Housing Trust. The redevelopment of Harvard House Apartments was made possible through support from the U.S. Department of Hous-ing and Urban Development’s (HUD) Neigh-borhood Stabilization Program (NSP), which aims to revitalize neighborhoods that have been negatively impacted by properties that were foreclosed upon or abandoned as a result of the recession. “Harvard House is a perfect example of how the federal government’s NSP program is breathing new life into local communi-ties,” said Stephanie Berman, president of Carrfour Supportive Housing. “Beyond providing much-needed housing for fami-lies and individuals in need, we rescued an asset from distress, thus injecting new life into a deteriorating neighborhood. We are not only rebuilding apartments—we are re-building an entire community.” The reopening was celebrated on March 19, when developers Carrfour and NHT organized a special reception and ribbon-cutting attended by several elected and non-elected government offi cials, includ-ing NSP Team Leader John Laswick of the U.S. HUD Offi ce in Washington, North Miami Beach Mayor George Vallejo, and Miami-Dade County Commissioner Sally A. Heyman. The newly redeveloped community will now offer affordable housing to approxi-mately 140 low-income residents. Located at 2020 NE 169th St. in North Miami Beach, the apartment community consists of 56 newly-renovated units designated for fami-lies earning at or below 50 percent of the area’s median income. Carrfour Supportive Housing, the non-profi t developer that rescued Harvard House from foreclosure and redeveloped it, has completed the acquisition of two similar complexes in Miami. The two projects—Te-questa Knoll and Hampton Village—will also be delivered to the market by 2014, with all three newly converted affordable housing communities offering homes for nearly 800 low-income residents in the area. 8 May 2013 | Multi-Housing News

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