Project record · Liberty City, Miami · NW 62nd Street & 7th Avenue
The credit was new.
The vision wasn’t.
Edison Towers is a 121-unit elderly affordable-housing tower in Miami’s Liberty City, developed by Otis Pitts Jr. through Tacolcy Economic Development Corporation and Peninsula Developers, Inc.
The Tax Reform Act of 1986 created the Low-Income Housing Tax Credit (LIHTC) — a new federal instrument by which private equity would fund affordable housing in exchange for a ten-year credit stream. Florida began allocating in 1987. Edison Towers was placed in service in 1988, in the first national wave.
Sister archives: MLK Plaza Station · Edison Marketplace
Foundation: Otis Pitts Jr. Foundation Corporation
Contact / corrections: otis@soulaans.io