MIAMI, FL - SG Holdings, in collaboration with New Urban Development LLC, an affiliate of the Urban League of Greater Miami, held a groundbreaking ceremony this week marking the start of construction on the 153-unit affordable senior housing project, Serenity Gardens, in Miami Gardens, Florida.
The development partnership reflects the organizations' shared commitment to expanding access to affordable housing and creating stronger, more equitable communities, while ensuring the project delivers high-quality housing and lasting community impact. Additionally, the project will bring new employment opportunities during construction and beyond, while offering seniors in Miami Gardens safe, affordable, and modern living spaces.
"The Serenity Gardens project demonstrates our commitment to delivering affordable, high-quality housing for seniors with the most need in our community," said Michael Swerdlow, Managing Partner of SG Holdings. "By partnering with New Urban Development, we are ensuring that this project not only provides homes but also strengthens the local economy and enhances the surrounding neighborhood for all residents. As South Florida continues to face a critical shortage of affordable housing, developments like Serenity Gardens are essential to helping seniors age with dignity in safe and beautiful communities they can call home."
Located on city-leased land in collaboration with the City of Miami Gardens, the senior living community will be comprised of studio, one-, and two-bedroom units, representing a significant investment in affordable senior housing and community revitalization while addressing the growing need for high-quality housing options for older adults in Miami-Dade County. The development also builds on SG Holdings’ and New Urban’s track records for delivering high-quality, affordable senior units such as SG’s 2025 award winning 578-unit Sawyer’s Walk, and New Urban’s Superior Manor Apartments Phase 1 and Carrie Meek.
Financing for the Serenity Gardens project has been secured through JPMorgan Chase & Co., while Santander Group provided the Low-Income Housing Tax Credit (LIHTC) equity through syndicator Red Stone Equity Partners.
"Serenity Gardens is an investment in both people and community, transforming long-vacant land into a vibrant neighborhood that creates jobs, expands access to affordable housing, and provides new spaces for residents to connect and thrive," said New Urban Development CEO Oliver L. Gross. "Our partnership with SG Holdings reflects a shared vision of creating high-quality, affordable housing that provides seniors with modern homes while strengthening the neighborhoods they have helped build."
The Serenity Gardens residential community is anticipated to deliver in late 2028.