Bishop T.D. Jakes is giving back to the residents of South Florida by planning to build affordable housing developments there.
According to reports, his company, T.D. Jakes Real Estate Ventures has partnered with New Urban Development to build two affordable housing developments in South Florida. In a joint statement, they said that one of the developments will be located in Hallandale Beach, 20 miles north of Miami.
The development will be a multifamily, mixed-income development that will have 200 units sitting on five acres in the middle of a historic Black neighborhood. The second development will be for senior living, located in Miami Gardens. This property will have 150 units that will sit on seven acres and it will feature walking trails and a clubhouse.
“Florida continues to grow and the need for more living options is at an all-time high.” managing partner of T.D. Jakes Real Estate Ventures, Marcus Dawson said. “It is our mission to create the necessary alliances that help address the most glaring issues like affordable housing.
He continued, “New Urban Development shares our vision for community transformation for seniors and underserved populations, and their accomplishments in South Florida model what development should look like in our communities.”
Oliver Gross, the president of New Urban Development spoke on the new partnership with Bishop Jakes. “The relationship and access to funding sources through T.D. Jakes Real Estate Ventures will help us expand the work we’ve been doing to improve the housing options in overlooked and underserved neighborhoods of Miami-Dade County and surrounding areas.”
He continued, “We all believe in a holistic approach to community revitalization that values transformation over transactions and incorporates education programs, financial literacy, and other resources to residents.”
They are expected to break ground in 2024.