MIAMI — Locally based Coral Rock Development Group has secured a $54 million construction loan from Citibank for Dulce Vida, a 227-unit mixed-income, mixed-use community in Miami’s Allapattah neighborhood. Construction will begin in the first quarter of 2026. A completion date was not disclosed. The total project cost is approximately $85 million.
Dulce Vida is a Live Local Act multifamily development. The statewide legislation, adopted in 2023 and updated in 2024, was created to accelerate mixed-income housing near jobs and transit by pairing land-use incentives with long-term affordability commitments. The development will include a public-use library.
Approximately 90 units will be reserved for households earning up to 60 percent of area median income (AMI), 80 units are for tenants earning no more than 100 percent of AMI, and 57 units will be rent-capped at 120 percent of AMI.
Located on a 1.3-acre infill site at 1785 NW 35th St., Dulce Vida will feature an eight-story building consisting of 70 studios, 128 one-bedroom units and 29 two-bedroom units.
The capital stack also includes $15 million from the City of Miami in the form of a 30-year loan and tax credit equity provided by Affordable Housing Partners (AHP).
Amenities include a resort-style pool, a fitness center, a yoga and meditation room, community room, a business center, a playground, a dog park, grills, electric vehicle charging stations and smart access control.
On the ground floor, Dulce Vida will include a new 8,500-square-foot Allapattah branch of the Miami-Dade Public Library System to replace the existing library. The new facility will offer a multipurpose community meeting space with audio/visual technology, new public computers and high-speed Wi-Fi, USB charging ports and electrical outlets throughout. It will also offer coworking and study spaces, all of which will be available to both residents and the public. The current library closed to the public on Dec. 31. A temporary location will open in March and will be available to the community throughout the construction period.