Alonzo Mourning, HTG land $55M for south Miami-Dade rentals

Alonzo Mourning’s affordable housing venture and Coconut Grove-based Housing Trust Group closed a $55.4 million financing package for Artisan Pointe, a 115-unit affordable rental complex under construction in unincorporated south Miami-Dade County.

Why it matters

For affordable developers, this deal is a working blueprint at exactly the moment private construction lending is tightening. Mourning, the Hall of Fame center, builds through AM Affordable Housing, and paired with HTG the two have strung together financings for below-market rentals across Miami-Dade for years. The Artisan Pointe closing shows the model still works: instead of leaning on a bank’s construction loan, the sponsors assembled tax-credit equity, a smaller permanent loan and a local redevelopment-agency contribution into one stack that pencils. When market-rate developers are watching lenders cap loan sizes, the affordable playbook of layered subsidy is the one still moving dirt.

The location matters too. Building family rentals at 26115 South Dixie Highway pushes new affordable supply into a fast-growing stretch of south Miami-Dade where demand outruns almost every other product type.

The numbers

The $55.4 million package breaks down as $31.5 million in low-income housing tax credit equity, a $16.9 million permanent loan arranged by Berkadia, and $7 million from the Naranja Lakes Community Redevelopment Agency. The four-story building is under construction now, with completion targeted for January 2028. That is roughly $482,000 in total capitalization per unit, a reminder that even subsidized affordable product carries a real cost basis in today’s market.

What’s next

Watch Mourning and HTG’s next filing, because a duo closing deal after deal is building a pipeline, not doing one-offs. For developers, the read is that a LIHTC-plus-CRA stack remains the most reliable route to a construction start right now. Track it on the South Florida hub.