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New Horizons Apartments

690 NW 60th Street
Miami, FL
Deal Type: 
Acquisition/Rehab
Year Built: 
1983
Acquisition Date: 
2008
Last Renovation: 
2011
Number of Units: 
100
Tenancy: 
Senior

New Horizons Apartments is an affordable, senior rental housing community located in northern Miami with easy access to commercial areas, employment centers and public transportation.  With 100% project-based Section 8 subsidy, this property provides a valuable housing resource for some of Miami’s neediest elders. 

Originally constructed in 1983, New Horizons was previously owned and operated by another nonprofit in Florida.  As part of POAH’s acquisition of the portfolio in 2008, the team completed a Transfer of Physical Assets with the Department of Housing and Urban Development that allowed POAH to secure the property’s eligibility for the Green Mark-to-Market program. 

POAH developed a comprehensive scope of renovation for New Horizons with special attention to energy improvements.  The work included kitchen and bathroom upgrades in all units, common area improvements, updates to the heating and cooling systems with a high efficiency duct-less mini-split system, replacement of the domestic hot water system, new windows, and repainting of the façade. 

Videos

Watch: New Horizons in Miami, FL

Project Partners: 

  • Enterprise Community Loan Fund
  • Housing Partnership Fund
  • US Department of Housing and Urban Development (HUD)

Awards and Accolades

Named one of "The 13 Most Creative Deals of 2009" by Apartment Finance Today magazine