Yaeger Plaza's $30M Liberty City Permit Lands at Six Floors, Not Eight

Miami-Dade issued a $30.3 million building permit on September 14 for Yaeger Plaza, the 135-unit affordable and workforce housing project at 1177 NW 62nd St in Liberty City, on Miami-Dade’s own Miami market permit wire. Permit 2026071393 lists 163,484 square feet and names the owner of record as Carl E Yaeger Jr Trs, the family trust tied to Dr. Carl E. Yaeger Jr., whose Yaeger Clinic served the neighborhood from the 1950s until it was demolished for this project.

The trust is the landowner, not the builder. The Integral Group is the developer that assembled the financing and broke ground on the site in March. Miami-Dade Property Appraiser records show the trust has held the roughly 10,030-square-foot core parcel since a deed recorded September 1, 2004, filed for zero consideration, the kind of transfer typically used to move property into a family trust rather than sell it. The 2026 assessed value on that original parcel is $236,715. The trust sat on the land for 22 years before an institutional sponsor and a public financing stack made 135 units pencil.

Why it matters

Little River and Liberty City are full of parcels like this: small, family-held for decades, sitting under old commercial or clinic buildings. Yaeger Plaza is a template for unlocking them, not through a land sale to a buyer chasing rising values, but through a legacy owner contributing the site to a subsidized capital stack. Builders working the corridor should be reading family trusts and estates, not just LLC deeds, when they scout assemblage targets.

The numbers

The permit covers 135 units and 163,484 square feet at a stated cost of $30,270,362. It lists six floors, two fewer than the eight-story building described in County and press coverage of the March groundbreaking, worth flagging as a design change between announcement and permit. The county’s own release puts the financing at $3.75 million in SAIL funds, $1.85 million in National Housing Trust Fund financing, $2.5 million in county documentary stamp surtax funds, $3 million in Miami Forever General Obligation Bond funds, and tax-exempt bond financing with low-income housing tax credits, on top of up to $31.5 million in Housing Finance Authority multifamily mortgage revenue bonds.

What’s next

The Integral Group’s own project page targets a late 2027 completion, with ground-floor retail and a health clinic honoring the Yaeger name. Watch for the construction lender on the tax-exempt bond piece to show up in Clerk of Courts filings on folio 01-3114-021-0960 once closing documents record.