April Housing Extends Affordability for at Least 30 More Years at an Affordable Housing Community in Homestead, Florida

HOMESTEAD, Fla. – September 9, 2026 – April Housing, Blackstone Real Estate’s affordable housing portfolio company, today announced it has extended affordability for at least 30 more years at a 336-unit affordable housing community in Homestead, Florida. This affordability extension was achieved through the resyndication process, which preserves long-term affordability for residents while committing more than $27 million to a community-wide renovation.

In partnership with the Housing Finance Authority of Miami-Dade County, this preservation transaction provides residents with continued access to stable, affordable housing for at least an additional 30 years, preventing rent increases to market levels while funding significant improvements to residents’ homes and the surrounding community.

Through the resyndication process, a community-wide rehabilitation plan totaling $27.2 million will upgrade residents’ homes, modernize major building systems, improve community amenities, and support the property’s long-term preservation. Planned improvements include:

Unit and Building Upgrades

• New flooring, interior paint, and stainless-steel appliances in apartment homes
• New HVAC equipment and energy-saving thermostats
• Hurricane-impact windows and sliding glass doors throughout the property
• Exterior building repairs and painting, waterproofing, and full roof replacements

Common Area and Community Enhancements

• Pool and playground upgrades
• Accessibility enhancements throughout the community
• New clubhouse roofing

“Preserving affordable housing is central to everything we do at April Housing,” said Perica Bell, Head of Preservation at April Housing. “Resyndication allows us to lock in affordability for at least another 30 years, protect residents from market-rate rent increases, and reinvest in the homes and amenities they rely on every day. We’re proud to bring these improvements to residents in Homestead, adding to the thousands of affordable homes we’ve already preserved nationwide.”

Built in 2002, the community includes 336 apartment homes across 25 buildings. The Housing Finance Authority of Miami-Dade County is the project’s public partner. NEI General Contracting will serve as the general contractor, and Hooker DeJong will serve as the architect.

The community is one of more than 12,800 affordable units April Housing owns and operates across 14 Florida counties, including over 4,100 units in Miami-Dade County.

April Housing is one of the largest owners and preservers of affordable housing in the U.S. Since 2024, the company has successfully completed the preservation of more than 3,650 affordable homes across the country. Through the preservation program, Blackstone Real Estate has invested more than $375 million in upgrades and improvements for residents at these properties.