Impact
Impact Studies
Past Rent savings Summary
16 Corner operates without any rent subsidy — a near anomaly in this market, where property owners rarely maintain average rents at or below 50% AMI without additional ongoing operational support. Notably, 16 Corner did not increase rents until the 2025 lease renewal period, resulting approximately $2.2 million in cumulative rent saving for OMNI CRA and Overtown residents between 2018 and 2025.
SurTax Impact Analysis Summary
Incorporating both project rent increase and the Average Annual Rent Increase Rate from the Income Limit Rent Schedule, over a 20-year period, this commitment translates to $12.7 million in rent savings for residents.
CRA Impact Analysis Summary
Incorporating both project rent increase and the Average Annual Rent Increase Rate from the Income Limit Rent Schedule, the 30-year affordability commitment translates to approximately $66 million in rent savings for residents.
Download the full Impact Studies.
Awards
1. FRA Outstanding Housing Project Award Winner, 2020
16 Corner won the Outstanding Housing Project Award by The Florida Redevelopment Association in 2020 (page 19).
2. SFCDC Awards for Excellence in Community Development, 2019
16 Corner won the Awards for Excellence in Community Development by South Florida Community Development Coalition in 2019 (page 7).
SFCDC Awards for Excellence in Community Development