OPEN SOURCE: 16 CORNER
The social and financial impacts of adaptive reuse, including detailed project-level means and methods of an affordable housing public-private partnership are explored in the “Open Source: 16 Corner” report, prepared by Vagabond Group Consulting. Primarily from the perspective of a developer and builder, the project was of particular importance to demonstrate real-time data points which are not currently accessible in the Miami marketplace.
Published on our website with transparent access to all parties, the report explores the importance of informed decision-making, design approaches, and new policies to encourage social resiliency as an important factor to successful affordable housing projects. “Our philosophy is full transparency, such that means and methods, including labor and material costs, be made available for our affordable housing projects,” the report states. To create a more equitable community, providing safe and quality affordable housing through public-private partnerships is a key factor to improving residential health and financial stability.
Among the key topics discussed in the report:
The structure of a public-private partnership, with a benefiting community partner;
The importance of history of place when considering affordable housing design approaches;
Sources & uses documentation, with detailed rental savings analyses and operational expenses data;
Full construction costs by line item on a per square foot and per unit basis;
Full construction schedule, with inspection and permitting details;
The importance of social resiliency to prioritize existing residents, local job creation, and high-quality materials in decision making; and,
Policy and process recommendations.
This project is currently ongoing and will be updated as more information is available. Thank you to our supporters at the City of Miami, Miami-Dade County, the Omni CRA, Mt. Zion Community Development Corporation, and our impact investors.