16 Corner is an affordable housing restoration project located in historic Overtown, Miami, Florida. It was developed by The Vagabond Group from 2018 to 2026.
Delivering 16 Corner required navigating a complex set of challenges typical of preservation-focused, infill affordable housing projects. These included assembling a multi-layered public-private capital stack, managing extended public funding review and reimbursement timelines, and absorbing pandemic-related construction cost escalation and supply-chain disruptions. Once construction began, extensive structural deterioration transformed the scope into a near-total rebuild, demonstrating that renovation is not always more cost-effective than new construction. Phased rehabilitation to avoid resident displacement extended timelines and carrying costs, while security risks at a small construction site introduced additional unplanned expenses. Together, these challenges highlight the operational and financial realities of delivering long-term affordable housing through preservation.
• 44 affordable homes preserved in a neighborhood where demolition would have reduced housing to 12 units
• Zero permanent resident displacement through phased construction and on-site temporary relocation
• Long-term affordability secured via a 30-year Affordable Housing Covenant on all units
• Legacy tenants protected, with average rents at 33% AMI and some as low as 19% AMI
• Improved living conditions through comprehensive building upgrades, soundproofing, and modernized interiors
• Community partnership embedded, with Mt. Zion CDC as an ownership partner supporting outreach and access
• Local economic impact generated by engaging local contractors and small businesses
• Infill preservation model demonstrated, maintaining neighborhood continuity and efficient use of existing infrastructure
• Policy lessons surfaced on funding timing, renovation realities, and the need for stronger support for small-scale infill affordable housing
Developer: The Vagabond Group
Public Partners: Omni CRA and Miami-Dade County Public Housing and Community Development (PHCD)
Community Partner: Mt. Zion Community Development Corporation