Senior Housing Project Slate Miami awarded by Citrus Construction

DAR Finish Specialties, Inc. has been awarded subcontract from Citrus Construction of Richman Group Development to furnish and install doors, frames, door hardware, and running trim, for a 105-unit multi-family project in Allapattah, FL called Slate Miami. The project aims to provide affordable senior housing in opportunity zone, Allapattah, FL.

"The Richman Group is planning a senior housing development in Allapattah. Richman, a major multifamily developer, is planning a 105-unit building for the site at 2137 Northwest 36th Street, and 3629 and 3645 Northwest 21st Court in Miami, according to MSP Group, which brokered the sale of the 0.7-acre assemblage.

MSP Group’s Deme Mekras and Elliot Shainberg represented the sellers, The Mark LLC, Global Property Consultants LLC and Rolando Arzola. They also represented the buyer. Richman paid $3.8 million for the assemblage, which breaks down to nearly $36,000 per buildable unit.

The property is in a designated Opportunity Zone, which allows investors who develop in any of the 8,700 zones in the country to defer or potentially forgo paying capital gains tax until the end of 2026. Richman’s site is zoned T6-8-O, allowing for an eight-story building. The Greenwich, Connecticut-based developer was awarded a low-income housing tax credit from the Florida Housing Finance Corporation to build the project, according to a release. Corwil Architects

By Katherine Kallergis – Reporter, The Real Deal"