Florida Construction News staff writer
The Miami-Dade County Commission voted unanimously this week to approve the $3 billion Little River District, a 63-acre development that includes 6,000 affordable and workforce housing units to the Little River and Little Haiti neighborhoods.
The project will create approximately 3,840 jobs during construction and SG Holdings committed to inclusive hiring, subcontracting, and workforce development initiatives, as well as a community benefits agreement aimed at ensuring that the project will directly benefit residents in the Little Haiti and Little River neighborhoods.
The county has agreed to a 99-year lease with SG Holdings — a partnership between Swerdlow Group, SJM Partners, and Alben Duffie — to redevelop several public housing complexes and privately owned properties into 5,730 multifamily units, 370,000 square feet of retail space.
Spearheaded by Swerdlow Group, the development is set to break ground in 2026, with a projected eight-year build-out.
“This approval is a major milestone in addressing Miami’s critical need for affordable and workforce housing,” said Michael Swerdlow, founder and CEO of Swerdlow Group and managing partner of SG Holdings.
Victory Homes, Newberg, Gwen Cherry 22, Gwen Cherry 06, and New Haven Gardens will be demolished and the developers have committed to building replacement units for existing residents first.
The project will include 314 replacement units for low-income households with no rent increases, as required by Miami-Dade’s Department of Housing and Urban Development’s Rental Assistance Demonstration program.
SG Holdings will pay the county a $45.8 million upfront lease payment, along with $5.2 million in annual rent and 30% of its developer fees. Miami-Dade officials project the county will collect more than $9.5 billion in revenue over the next century from the development.
“The Little River District will prioritize affordable housing, access to public transit, and economic opportunity for local residents and business owners,” Swerdlow said. “It’s an investment in the prosperity of Little Haiti and Little River.”
The next steps for the project involve securing zoning changes from the City of Miami and obtaining approval from the U.S. Department of Housing and Urban Development (HUD). SG Holdings continues to engage with local residents through public meetings as it finalizes the site plans and building designs.
