(Black PR Wire) WHAT: Groundbreaking and Grand Opening of two new TEDc affordable housing developments will highlight the celebration of the nonprofit affordable housing developer’s 40 years of service to the community.
WHO: Those invited to deliver remarks include Congresswoman Frederica Wilson representing Florida’s 24TH District, State Senator-Elect Ashley Gantt from District 109, Miami’s Mayor Francis Suarez, Miami-Dade’s Mayor Daniella Levine Cava, District 5 Miami Commissioner Christine King, Miami-Dade County’s District 3 Commissioner Keon Hardemon, Jorge Pérez, Chairman and CEO of The Related Group, and others. Jawan Strader, Emmy award-winning journalist and NBC 6 news anchor, will host the celebration.
WHEN: November 3 @ 9:30 am
WHERE: Groundbreaking at Edison Towers, 5821 NW 7th Ave, Miami, FL. and Grand Opening of Edison Place, 610 NW 58th Street, Miami, FL, immediately following the groundbreaking
WHY: TEDc’s hallmark anniversary celebration will highlight two of TEDc’s new affordable housing developments in Liberty City. The grand opening of Edison Place’s 200 thoughtfully designed workforce housing units will feature ribbon cutting by City and County officials, and funders. And with the groundbreaking of Edison Towers, construction will begin on 115 units of amenities-abundant senior housing.
TEDc, founded and based in Liberty City, was one of the first developers in Florida to use Low Income Housing Tax Credits (LIHTC) to finance affordable housing. The Company, led by women, will receive recognition for its contributions to the community, and innovation in structuring funding and partnerships.
In addition to celebrating expanding operations from Miami up the east coast to North Carolina, the event also announces a unique initiative for community leaders to develop underutilized land and a State-funded social services program for residents of TEDc communities to receive digital and financial literacy training, GED certification, and vocational education and career counseling.
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 initiated 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 communities 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.