Boardwalk at Gateway could be HUD housing

Posted on May 04, 2020, 8:54 pm
4 mins

We now know why the picture used to promote the Boardwalk at Gateway development has a Miami feel to it.

Meet the “Boardwalk 280” project, a new 280-unit community being built over in Mirimar, Florida. The developers used the exact same picture to promote that community, which is close to Miami.

And it turns out that Boardwalk 280 shares more than an artist’s rendering and namesake with Boardwalk at Gateway.

A lot more.

Both communities are being built by a developer named SH Communities, Inc. The developers broke cover for both projects in the 2017-2018 time-frame. Both Boardwalk 280 LLC and Gateway 2012 LLC (the company that owns the parcel of land at the corner of Gateway and Griffin) list their principal address as 9900 SW 107 Ave, Suite 103, Miami FL 33176. Both companies name Gerardo Aguirre as their registered agent.

So clearly the two Boardwalk projects are linked.

But while anger and push-back from Gateway residents caused a delay in the development here moving forward, there apparently was no backlash in Mirimar and the project proceeded. For some reason, the Boardwalk 280 project was renamed to Eurus at Mirimar and you can even find some rental listings online.

While it was still named Boardwalk 280, the developers received a $42 million HUD 221(d)(4) new construction loan for their project in Mirimar, from the Department of Housing and Urban Development.

According to Section 221(d)(4) insures mortgage loans to facilitate the new construction or substantial rehabilitation of multifamily rental or cooperative housing for moderate-income families, elderly, and the handicapped.

Could Boardwalk at Gateway use HUD funds to get built? Well, we know they plan to use the same business strategy of renting out the units and not selling them, so it seems plausible or even likely they’d go back to the well and use HUD-backed funding.

Now, I don’t care if Boardwalk is going to be HUD housing, but for some reason I just want to know who actually owns the thing. I don’t know why I want to know, I just do. (When we asked an SH representative who owned Boardwalk at Gateway back in 2018, they claimed .. and this is true… that they didn’t know.)

So here’s what I’m thinking.

HUD loan applications are surely public documents, wouldn’t you think?

And I’m willing to bet you have to provide a LOT of documentation and information to get a $42 million loan, on which they’re not going to let you hide behind a Delaware corporation and still get approved.

The Gateway Sun will be submitting a Freedom of Information Act request to get the documentation relating to the Boardwalk 280 / Eurus at Mirimar HUD loan. I think it’s our best shot of finding out who’s behind Boardwalk at Gateway.

I have no idea how long an FOIA request takes, as I’ve never done one. But when I get the results I’ll let you know what I found out about the developers.

Editor of the Gateway Sun and owner of restaurant delivery service Florida Food Runner.

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