Never let it be said that Miami developer Michael Swerdlow didn't think through his Overtown project.
He reinvented his vision for Sawyer's Landing a couple of times before opting to make all 578 units affordable and for renters 62 and older.
"It was a confluence of everything. It was the pandemic. The fact that there is an abundance of market-rate residential buildings being built in the area. So, why compete if you don't?" Swerdlow said. "It's very easy to lease an affordable apartment. There are four or five tenants lined up for every affordable apartment. It's more predictable."
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
