Coral Rock Development Group has taken a key step in building a large affordable and workforce housing development in Miami’s Allapattah neighborhood.
The firm announced finalizing a $54 million construction with Citibank for the 227-unit Dulce Vida community. Created under Florida’s Live Local Act, the development is designed to help teachers, nurses, first responders, and other essential workers live closer to their jobs.
Dulce Vida will also be home to a new public library.
With a total project cost of approximately $85 million, Dulce Vida is among the first major Live Local Act multifamily developments in Miami-Dade County to advance into full construction financing, according to the development team.
The statewide legislation, adopted in 2023 and updated in 2024, was created to accelerate mixed-income housing near jobs and transit by pairing land-use incentives with long-term affordability commitments.
In addition to the construction loan, the capital stack for the project includes $15 million from the city’s Miami Forever Affordable Housing Bond—structured as a 30-year loan to support affordable and workforce units—and low-income housing tax credit equity provided by Affordable Housing Partners (AHP).
“Securing this construction financing is the critical step that allows Dulce Vida to move from concept to reality,” said Michael Wohl, principal of Coral Rock Development Group. “Dulce Vida will deliver high-quality apartments with modern amenities that working households can afford, in a location close to Miami’s major job centers.”
Located on a 1.3-acre infill site, Dulce Vida will feature an eight-story building consisting of 70 studio, 128 one-, and 29 two-bedroom units. The development will reserve 40% of its units for households earning up to 60% of the area median income (AMI), 35% for those earning up to 100% of the AMI, and 25% for households earning up to 120% of the AMI.
Residents will have access to a resort-style pool, a fitness center, a yoga and meditation room, a community room, a business center with a cybercafe, a children’s playground, a dog park and pet spa, a barbecue area, EV charging stations, and smart access control.
On the ground floor, Dulce Vida will include a new 8,500-square-foot Allapattah branch of the Miami-Dade Public Library System to replace the existing library. The development aims to serve as a model for future public-private partnerships.
Coral Rock Development is partnering with Miami Bethany Community Services, a longstanding nonprofit church in Allapattah, to lead community outreach and engagement.
Headquartered in Coral Gables, Florida, Coral Rock Development specializes in mixed-use, multifamily, commercial, and industrial properties across the state. It has delivered more than 10,000 residential units and over 10 million square feet of commercial space, including 75-plus affordable and workforce apartment developments.