Miami’s affordable-housing needs are growing. Bilzin Sumberg is adding expertise
As the pandemic surges in South Florida, Miami-Dade’s affordable housing needs are expected to increase. In anticipation, Miami-based commercial law firm Bilzin Sumberg is expanding its expertise.
The Brickell-based firm has hired Terry Lovell, who left Stearns Weaver in early July to lead the practice. Lovell specializes in the financial requirements of affordable housing projects and will lead the seven-member Affordable Housing & Tax Credit practice.
“Our firm has for years represented affordable housing developers...for developing land and environmental issues. The next step was to find someone with Terry’s expertise. We will [now] provide the soup-to-nuts for our clients,” said Al Dotson Jr., managing partner of Bilzin Sumberg. “The need for this type of housing will expand, regardless of the economy.”
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Lovell joined Stearns Weaver after graduating from the University of Miami School of Law in 1998.
“This is my first switch and my last,” Lovell said. He will focus on projects in Miami-Dade.
Lovell has assisted multiple developers over his 22-year career, including Related Urban Development Group on its $300 million redevelopment of Liberty Square. The first phase of the project was completed in July 2019; another 1,455-mixed income units are in the pipeline and expected to be completed by 2023.
“The demand for affordable housing was not being met prior to the pandemic and with people losing their jobs, it’s just going to get worse,” Lovell said.
Developments in the broader market have been canceled or delayed since the outbreak, due in part to funding challenges. But existing and new affordable housing projects will move forward, Lovell said, as state and county officials continue to focus on need. He expects developers to tap into the affordable housing funds set aside by Gov. Ron DeSantis; most of that is on hold until after the Nov. 3 general elections.
This is the second expansion for Bilzin Sumberg this year. The firm hired seven lawyers in May — all from Stearns Weaver — to focus on construction law.
The firm recently received more than $150,000 from the Paycheck Protection Program. Dotson Jr. declined to specify the exact amount received and whether any of the funds were used for the firm’s expansion.
