Miami-Dade County celebrates grand reopening of Ernie Martin Villas

Miami-Dade County will celebrate the grand reopening of Ernie Martin Villas, a newly renovated mixed-income affordable housing community developed by Ten North Group.

Located at 20900 NW 14^th Place, Miami Gardens, Florida 33169, garden-style community spans more than 20 acres and includes nine residential buildings with 288 one, two and three-bedroom apartments.

Originally built in 2003, the property recently underwent a comprehensive rehabilitation as part of a nearly $100 million resyndication effort including approximately $47 million in improvements. Formerly known as Villas de Lago, the redevelopment of Ernie Martin Villas was designed to serve as a cornerstone for the surrounding residential community. Residents benefit from a variety of amenities, including lush landscaping, on-site management, a resort-style swimming pool, a fitness center, a well-appointed clubhouse, a tot lot playground, an indoor activity center, picnic areas with grills, surface parking, and 24-hour emergency maintenance services.

The property also features a mini-pitch soccer field generously donated by the U.S. Soccer Foundation, providing recreational opportunities for residents and the surrounding community.

To support the redevelopment, Ten North Group assembled a diverse financing structure. Funding sources include Housing Finance Authority (HFA) Multifamily Housing Revenue Bonds—Series A (tax-exempt) and Series B (taxable)—privately placed with R4 Capital, which also served as the construction lender.

Additional financing includes Miami-Dade County Documentary Stamp Surtax Program funds ($4,896,743), State Housing Initiatives Partnership (SHIP) Program funds ($1,553,257), and an assumed HOME Investment Partnerships Program (HOME) loan from Miami-Dade County ($750,000).

Further sources include seller financing ($25,101,197), Low-Income Housing Tax Credit (LIHTC) equity provided by National Equity Fund (NEF), the project’s tax credit investor ($6,904,899), and a deferred developer fee ($8,831,421), which will be repaid from project cash flow after stabilization.