Photos: Black PR Wire
(Black PR Wire) Miami, FL – TEDc, a Florida-based nonprofit affordable housing developer, has celebrated 40 years of building strong communities with the launch of two of its newest communities in Miami’s Liberty City. Hosted by NBC 6 News Co-Anchor Jawan Strader, the event was attended by government officials and business and community leaders.
The construction underway for Edison Towers was the background for the groundbreaking ceremony. When the rehab is completed, 115 units of amenities-abundant affordable housing will be home for seniors. The celebration continued with the grand opening and ribbon-cutting ceremony of the newly-constructed Edison Place, featuring 200 sustainably designed workforce housing units.
One of the first nonprofit developers in Miami to use Low Income Housing Tax Credits (LIHTC) to finance affordable housing, TEDc’s commitment, partnerships, and progress in building communities for people of modest means were highlighted during the commemoration.
Carol Gardner, president of the woman and minority-led TEDc, remarked, “We are honored to celebrate 40 years of being a member of this community. We have struggled together, and we have succeeded together. And working together, we are building more housing that improves the quality of life for more people and fuels more investment to benefit the entire community. TEDc is privileged to work with you to help solve the affordable housing crisis. Edison Towers and Edison Place are reminders of what we can and will accomplish together.”
Elected and government officials, community leaders, and representatives of TEDc’s co-development partnerships recognized the Company’s work and its expansion to development in other states, including:
• The Honorable Daniella Levine Cava, Mayor of Miami-Dade County
• The Honorable Francis Suarez, Mayor of the City of Miami
• State Representative James Bush III
• State Representative-Elect Ashley Gantt
• Congresswoman Frederica Wilson’s Chief of Staff, Alexis Snyder
• Jorge Pérez, CEO, Related Group
• Jake Zunamon, Senior Vice President of Development, Smith & Henzy
• Jeff Hovis, Chair, Wilmington, NC Housing Authority Board of Directors
• Luce Lohier, TEDc Board Chair
• Eric Knowles, Miami-Dade Chamber of Commerce President
The commemoration also highlighted TEDc’s growth with the announcement that the Wilmington, North Carolina Housing Authority selected TEDc and its co-development partner, Related Urban Group, to transform a 26-acre public housing project into a mixed-income, mixed-use community. And that the Fort Walton Beach Housing Authority of Florida has awarded TEDc the multi-phased 19-acre redevelopment of existing public housing.
Attendees also celebrated a $400,000 appropriation and award from the State of Florida funding TEDc’s new social services initiative to provide financial training, GED certification, and vocational education to its communities’ residents. As part of its new Non-Traditional Initiatives, TEDc also announced its program to work directly with faith-based leadership, colleges and universities, and other institutions to develop underutilized land to provide affordable housing. Gardner closed the celebration with a call to action, ” Many say that the affordable housing crisis can’t be fixed. Some say that TEDc has big dreams. What we have is a solution, and it’s simple… We will work with our partners to deliver the highest and best housing and services to the people who need it most and to the communities they call home.”
About TEDc
In 1982, Tacolcy Economic Development Corporation (TEDc) was founded as a nonprofit to serve communities in Miami-Dade County and surrounding areas after rioting in Miami in the 80s. With more than $10 million in physical and financial devastation and the loss of over 3,000 jobs, TEDc launched economic development initiatives to address the havoc wreaked on the once-vibrant community. TEDc built its first affordable housing development in Liberty City in 1983. And today, TEDc continues to be a minority-led and operated nonprofit affordable housing developer that builds strong communities that change lives.
With nearly $400 million in assets—including workforce- and senior housing in addition to commercial and retail properties—TEDc wholly owns TPMC, a property management company that manages affordable housing communities and consistently exceeds industry averages in collection and occupancy collection rates.
For more information on TEDc, contact James Paulk at 305-757-3737 and [email protected], and visit www.TEDcBuilds.org.
