Jorge Perez and Albert Milo To Create Affordable Housing

Related Group developer Jorge Perez has partnered with the Urban Development Group’s Albert Milo for a project called RUDG LLC, whose purpose is to create affordable housing. RUDG LLC intends to complete buildings in Miami’s Little Havana area that stopped construction due to their company (mFm) running into serious financial difficulties. These include the three-tower, 1,800-unit Icon Brickell project, now controlled by a group of lenders that are trying to sell its 1,600 unoccupied units. The RUDG projects are also going to use $3.7 million provided by the county for the construction of a 24-unit Porto Allegre complex that is about 80 percent complete, and is located at 574 SW First St. They will also spend $6.1 million for the 49-unit Toscana at 126 SW Eighth Ave., which is only 65 percent complete.

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