Real Estate Development
MLK Professional Office Building
BAC is responsible for the development of a $33.5 million dollar professional office building located at 2525 NW 62nd Street, Miami, FL 33147. The building was financed with Industrial Revenue Bonds as a result of BACís non-profit status and commitment to economic development in the South Florida community.
As the developer of the project, BACís role included fiduciary responsibilities as well as management of the construction process. Ronald E. Frazier, Chairman and CEO of BAC, was the architect of the project. The building was completed in 2004 and is currently fully leased. Occupants of the building include Miami-Dade Countyís Departments of Juvenile Justice, Solid Waste and Transit.
Infill Housing Program
In an effort to further promote economic balance for all of South Floridaís residents, BAC has financed and begun its own development of single-family homes for low to moderate income families in Miami-Dade County. BAC is currently participating in Miami-Dade Countyís In-fill Housing Program.
BAC uses a Cost focus strategy to provide low-cost single-family homes to pre-qualified low to moderate-income homebuyers. This is accomplished through control of direct expenses and minimization of overhead while simultaneously identifying an ample pool of pre-qualified homebuyers.
BAC utilizes its knowledge of financial planning, real estate development and project implementation. A strategic alliance has been solidified in the form of a joint venture with an experienced real estate developer.