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Committee backs $4.21 million GOB allocation for Grand Bahamas Place homeownership project in Coconut Grove
Summary
The committee recommended allocating up to $4.21 million in Miami Forever GOB funds to Grove Prosperity Partners LLC for a 56‑unit micro‑condo homeownership project restricted to buyers at or below 80% AMI in Coconut Grove’s Grand Ave area.
The Housing and Community Loan Committee voted to recommend allocating up to $4,210,000 in Miami Forever general obligation bond (GOB) funds to Grove Prosperity Partners LLC to support development of the Grand Bahamas Place condominium project in Coconut Grove.
Staff said the project, to be assembled from three lots in Coconut Grove, will deliver 56 micro condominium units targeted to homebuyers earning up to 80% of area median income (AMI). In staff’s presentation the…
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