Miami-Dade Trust Launches Welcome HOME Initiative for New Construction
The Miami-Dade Economic Advocacy Trust launched the Welcome HOME program to provide down payment assistance and a lottery process for new home purchases.
New Housing Initiative Launched
The Miami-Dade Economic Advocacy Trust (MDEAT) has launched the Welcome HOME (Housing Opportunities Made for Everyone) initiative. This program, established in partnership with JL Brown Development Corporation, is designed to provide a pathway to homeownership through a structured lottery process and financial support for residents seeking to purchase newly constructed homes.
Program Requirements and Timeline
To be eligible for the program, a household's income must be below 140 percent of the Area Median Income (AMI). Applicants must intend to use the purchased property as their primary residence. The program includes a lottery drawing to determine the selection order for three available homes.
According to the program guidelines, the lottery ranks applicants from 1 to 10, with the top six required to qualify for purchase. The application period is scheduled from September 1 to September 30, or until 200 qualified applications are received. Eligible applicants must submit their applications online at miamidade.gov/mdeat-welcome-home.
Local Market Context
While the Welcome HOME initiative focuses on specific new construction units, the surrounding real estate market in the Brickell area continues to see active inventory across several high-rise developments.
For those looking at nearby options, Reach Brickell City Centre currently has 29 active listings starting from $615,000 with a median asking price of $808/sq ft. Nearby, MyBrickell offers 7 active listings starting from $504,999 at a median of $565/sq ft. Other nearby options include Brickell on the River South with 11 active listings starting from $549,000, and 500 Brickell West with 12 active listings starting from $570,000.
Additional inventory in the immediate vicinity includes 500 Brickell East, which has 10 active listings starting from $545,000. For a different market dynamic, Sunny Isles Beach currently has 826 active listings with a median asking price of $1.29M.
For premium luxury options nearby, Viceroy Residences Brickell has 19 active listings starting from $637,900 at a median asking price of $1239/sq ft. The program provides down payment assistance and flexible financing support to help residents navigate these local markets.
Sources
Community Newspapers: Initiative to address county’s housing affordability crisis | Cutler Bay Community News — https://communitynewspapers.com/kendallgazette/initiative-to-address-countys-housing-affordability-crisis/
Frequently asked questions
What are the income requirements to qualify for the Welcome HOME initiative?+
To be eligible for the program, a household's income must be below 140 percent of the Area Median Income (AMI).
When is the application period for the Welcome HOME program?+
The application period is scheduled from September 1 to September 30, or until 200 qualified applications are received.
How many homes are available through the Welcome HOME lottery?+
The program includes a lottery drawing to determine the selection order for three available homes.
What are the starting prices for units at Reach Brickell City Centre?+
Reach Brickell City Centre has active listings starting from $615,000.
What is the median asking price for units at Viceroy Residences Brickell?+
Viceroy Residences Brickell has a median asking price of $1,239/sq ft.
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