T.D. Jakes, Diddy

T.D. Jakes Partners With The Largest Black-Owned Real Estate Developer In Miami For Affordable Housing Project

Bishop T.D. Jakes recently announced his company, T.D. Jakes Real Estate Ventures is partnering with New Urban Development, “Miami’s largest Black-owned real estate developer,” to create two affordable housing developments in South Florida.

Located in Hallandale Beach and Miami Gardens, managing partner Marcus Dawson said the partnership with NUD is a testament to a sincere effort to revive and stabilize failing communities.

“Florida continues to grow, and the need for more living options is at an all-time high,” Dawson said. “It is our mission to create the necessary alliances that help address the most glaring issues like affordable housing.” He continued by saying that NUD shares similar ideologies of community transformation for seniors and underserved populations, and what they have already developed proves it.

The development in Hallandale Beach will be a multi-family, mixed-income five-acre property featuring 200 units. Set to be located at the center of a historic African-American community with limited affordable housing choices, the ground is scheduled to break in Q1 2024. The development will only host 150 units on seven acres in Miami Gardens. Located adjacent to Miami Gardens Senior Family Center, the property will be the first of its kind as a senior housing complex developed for seniors in the area. With lots to do, the development will also provide a clubhouse and walking trails.

NUD was awarded the land from the City of Miami Gardens in order to correspond with existing senior recreation centers, while Miami-Dade County was awarded funding for the housing development. Oliver Gross, president of New Urban Development, said partnering with T.D. Jakes Real Estate Ventures has opened many doors to resources they didn’t once have access to. “The relationships and access to funding sources through T.D. Jakes Real Estate Ventures will help us expand the work we’ve been doing to improve the housing options in overlooked and underserved neighborhoods of Miami-Dade County and surrounding areas,” Gross said.

“We all believe in a holistic approach to community revitalization that values transformation over transactions and incorporates education programs, financial literacy, and other resources to residents.”

South Florida is the latest area to be touched by Jakes and his Dallas-based company. In May 2023, T.D. Jakes Group partnered with Wells Fargo to purchase 95 acres of the former Fort McPherson Army base to turn it into a mixed-use, mixed-income community, according to Atlanta Agent Magazine. The 10-year partnership would be responsible for bringing close to $1 billion in capital financing and grants from the Wells Fargo Foundation, set to go toward reviving underserved neighborhoods.