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In November of 1994, the Hialeah Housing Authority was anticipating the purchase of Palm Centre and at that time we began managing the property. In May of 1995, the Hialeah Housing Authority purchased Palm Centre under a Bond Issue for the amount of $14.5 million dollars.
Palm Centre generates approximately $2,100,000 annual income. The distribution of Palm Centre is as follows:
Palm Centre
Total Units 298
56 Commercial Bays - 240 East 1st Avenue
60 East 3rd Street (floors 1-2)
(square ft. 63,,639, excluding laundry room of 1,050)
Palm Centre, Phase I 60 East 3rd Street (starting at 3rd floor)
11-1 bedroom units
87-2 bedroom units
Palm Centre, Phase II 150 East 1st Avenue
87-2 bedroom units
26-1 bedroom units
148-2 bedroom units
26-3 bedroom units
The following rental program at Palm Centre is inclusive within the 298 units.
HODAG Program
Total units 41
Monthly Rent
6 -1 bedroom units - $395.00 plus $11.00 for cable = $406.00
28 -2 bedroom units - $438.00 plus $11.00 for cable = $449.00
7 -3 bedroom units - $514.00 plus $11.00 for cable = $525.00
The following are regular rents for 1, 2 and 3 bedroom units exclusive of the HOGAD Program.
In Phase I and Phase II, rents are as follows:
Floors (1 bedroom/1 bedroom)
(869 sq. ft.)
3-7 $501.00
8-9 $511.00
10-12 $516.00
14 $526.00
Floors (2 bedrooms/ 2bath)
(869 sq. ft.)
1-7 $591.00
8-9 $601.00
10-12 $611.00
14 $621.00
Floors (3 bedroom/ 2 bath)
(1,079 sq. ft.)
1-7 $726.00
8-9 $731.00
10-12 $741.00
14 $756.00