MIAMI--(BUSINESS WIRE)--The Mirage at Sailboat Cove (the “Property”) gathered community members and partners on May 6, 2021 in Opa Locka, Florida for a Ribbon Cutting Ceremony celebrating the Property’s opening of new workforce housing for rent. Upon completion, the Property will offer 112 townhome units featuring four bedroom/2.5 bathroom floorplans to low- and middle-income residents. The Property is being developed by joint venture between two Miami, Florida-based real estate development and investment firms: Redwood National Properties, LLC, led by Brian A. Sidman of BAS Holdings Investments, LLC and Winston Capital Partners, LLC led by David Burstyn.
During the event, guests and city officials toured the newly developed Property and recently completed units. Construction completion currently stands at 60% and all units are projected to be delivered to the market within the Third Quarter of 2021, two months ahead of schedule. “This project shows the benefits of the private sector working in tandem with the public sector,” said Sidman. “It was a team effort from ground break to the opening of the community. The City of Opa-locka, Coastland Construction, LB Construction, Winston Capital and our firm BAS Holdings Investments worked tirelessly to deliver quality product to a community in dire need of Workforce housing. Our team came together against all odds during a pandemic and successfully delivered units to tenants in under 8 months from ground breaking. I am beyond proud of the individuals, the trades and the City that made this project press forward so families now have a community in Mirage at Sailboat Cove they can be proud to call home.”
Distinguished speakers at the Ribbon Cutting Ceremony included:
- Matthew A. Pigatt, Mayor of the City of Opa-Locka
- Pastor Arthur Jackson III, Antioch Missionary Baptist Church
- David Burstyn, Winston Capital Partners, LLC
- Brian A. Sidman, Redwood National Properties, LLC
- Marilyn Urroz, Royal American, the property manager
The Property runs alongside Mitchell Lake in northern Miami-Dade, and is strategically located within 1.5 miles of I-95 N and other major transportation arteries, providing residents proximity to nearby North Miami and Miami Gardens and employment drivers across South Florida. The Opa-Locka/North Miami Market of the Property is enjoying a significant influx of new residents, as Miami urban core population expands, making available housing is scarce for working class individuals, and families. A recent study by Miami Homes for All found that by 2030 Miami-Dade County must produce or preserve 160,000 units for renters earning less than 50% of Area Median Income (“AMI”) and 50,000 units for renters earning between 50% and 80% of AMI to meet the County’s current and future needs. Upon full completion of the development, the Property will become one of the most sought-after affordable housing communities in the area.
About Redwood National Properties, LLC
Redwood National Properties is a wholly owned subsidiary of BAS Holdings Investments, LLC (“BAS”). BAS focuses on niche real estate transactions through the following multi-vertical platforms: parking investments, solar developments, qualified opportunity funds, and affordable housing developments. BAS Holdings brings years of experience as a principal and executive in the acquisition of real property, construction and real estate structures such as REIT’s, partnerships, Tenants In Common (TIC’s) and Delaware Statutory Trust (DST) offerings.
