Plans delayed for hundreds of housing units in Overtown
Written by Miami Today on August 14, 2018
Poinciana Village of Miami Ltd.’s plans to develop block 46 of Overtown are going forward, though the construction timetable has been extended. But even with the postponement, “We got a better deal,” said Cornelius Shiver, executive director of the Southeast Overtown/Park West Community Redevelopment Agency (CRA), which owns the land. Local developer Ted Weitzel is the registered agent of Poinciana Village of Miami.
In June, when CRA directors agreed to push the deadline to begin vertical construction to Feb. 28, 2019, the developer pledged to make a $3 million payment to the agency and to build 20% of the units as affordable housing. An earlier covenant also included obligations for the CRA to make payments to the developer to assist with the cost of developing block 46, which have also been dropped…To read the full story click here