South Florida Affordable Housing Investment Fund
A Platform by SG Holdings
Building Affordable Communities. Creating Lasting Value.
An institutional platform delivering affordable housing at scale across Miami-Dade County through 4% LIHTC developments and long-term public partnerships
Miami-Dade County faces a housing shortage exceeding 90,000 units, one of the largest gaps in the United States. The South Florida Affordable Housing Investment Fund unites public purpose and private capital to deliver large-scale, income-producing affordable housing through a 100% 4% LIHTC-backed portfolio. With more than 8,000 residential units and 1 million square feet of commercial and industrial space, SG Holdings is building the next generation of inclusive communities — combining social impact, stable returns, and long-term value.
Portfolio & Valuation Summary
Our portfolio consists of 8,028 residential units, 1,010,000 SF of commercial/industrial space, and ancillary revenue from our Internet, Security & Resident Services Program.
Each property benefits from stable rent-restricted income, public land control, and long-term affordability covenants that minimize volatility. Based on stabilized net operating income and bond-financed capital structures, the Fund targets levered IRRs of 9–11% range supported by County-backed ground leases and tax-exempt bond proceeds that mitigate downside risk.
$321 million
Residential Value
8,028 units × $40,000
$151.5 million
Commercial /Industrial Value
1,010,000 SF × $150
$20 million
Ancillary Income (Capitalized)
50% participation @ $29/month - $1.4M annual recurring
~$492 million total value • 9–11% levered IRR
Why Invest?
Scalable Platform
Pipeline of 4% LIHTC communities across Miami-Dade County, structured for institutional participation and programmatic growth
Stable Yield
Ground-leased land and credit-enhanced bonds create downside protection and steady long-term returns
Public-Private Alignment
Projects are developed in partnership with Miami-Dade County and local agencies, ensuring policy consistency and long-term affordability
Tangible Impact
8,000+ rent-restricted homes delivered in a region with the greatest housing need in Florida
Active Projects
| Project | Location | Units | Commercial SF | Summary |
|---|---|---|---|---|
| Little River District | Miami, FL | 5,200 | 500,000 | Multi-phase master plan anchored by a new train station. |
| Poinciana Ventures | Miami-Dade, FL | 800 | - | Family-oriented 4% LIHTC community near employment and transit. |
| Gwen Cherry / Newberg Redevelopment | Liberty City, FL | - | 260,000 | Industrial/logistics redevelopment supporting adjacent housing. |
| South Dade Housing | South Dade, FL | 600 | - | Workforce and senior housing serving South Dade communities. |
| WASD Redevelopment | Miami, FL | 400 | - | County-owned site transforming into mixed-income housing. |
| Little Havana Residences | Little Havana, FL | 300 | - | Infill community combining affordable units with neighborhood retail. |
| Sawyer’s Walk at Block 55 | Overtown, FL | 578 | 250,000 | Completed senior housing integrated with retail anchors. |
| Serenity Gardens | Miami-Dade, FL | 150 | - | Supportive housing community emphasizing wellness and aging in place. |
Project Details
Project Map
Visualize our impact - explore over 8,000 units of housing and 1 million SF of commercial development transforming Miami-Dade County.
our Risk Mitigation
100% of developments utilize federally supported 4% LIHTC allocations and credit-enhanced tax-exempt bonds.
Public ownership of underlying land eliminates acquisition exposure and provides long-term cost certainty.
County participation ensures alignment on affordability, infrastructure, and financing approvals.
Principals
Michael Swerdlow
Michael Swerdlow is one of South Florida’s most accomplished urban developers, with more than four decades of experience delivering large-scale public-private projects. His portfolio includes many of the region’s most significant mixed-use and affordable housing developments — from North Miami’s Biscayne Landing to Overtown’s Sawyer’s Walk at Block 55 — totaling over 10,000 residential units and more than 30 million square feet of commercial space. His projects have generated billions in combined public and private investment. Michael’s expertise in complex land transactions, long-term ground leases, and tax-exempt bond financing continues to shape Miami-Dade’s affordable housing landscape and guide SG Holdings’ strategy.
Stephen Garchick
Stephen Garchick has over 35 years of institutional real estate development experience across multifamily, office, retail, and large-scale mixed-use assets. As a Principal of SG Holdings and long-time strategic partner of the Swerdlow Group, he leads the firm’s capital structure, financing, and development programs. Stephen has deep experience structuring HUD, LIHTC, and public-private transactions, and has delivered thousands of residential units and millions of square feet of commercial space nationwide. His disciplined execution and understanding of affordable housing policy provide a strong foundation for the Fund’s growth and stability.
Invest with Us
SG Holdings is seeking strategic capital partners to co-invest across multiple phases of the Fund’s Miami-Dade portfolio.
Opportunities include:
Programmatic equity participation in 4% LIHTC projects
Credit enhancement or co-GP structures
Impact-aligned capital deployment for scalable delivery