MIAMI, Fla. – Even before he retired from the NBA following a 20-year career, former Miami Heat star Udonis Haslem was already building the bridge toward his new career: Real estate.

Haslem, a Miami native, is teaming up with Magellan Housing to build 174 affordable rentals and 26 workforce townhouses for sale in North Miami, according to city records.

The proposed project, called Catherine Flon Estates, comprises 200-units on a 6.3-acre site near Northeast 139 Street and Northeast Fourth Avenue.

The City of North Miami sold the property to Haslem and Magellan Housing for an estimated $1.5 million.

"New chapter means a new venture," Haslem said on social media.

The project is targeting people struggling to afford high rental rates in South Florida during the affordable housing crisis.

People living in households earning no more than 60 percent of the area median income, which is $74,700 a year, can qualify for the rental apartments and workforce townhomes.

The maximum income for one person in the household is $43,380, $49,560 for a two-person household and $55,740 for three people living in one home.

Monthly rents at Catherine Flon Estates will be $1,161 for one-bedroom units; $1,393 for two-bedroom units; and $1,610 for three-bedroom units, according to Magellan Housing.

The townhouses will target households earning no more than 120 percent of the AMI.

The prices, which will be set based on government guidance for workforce residences, weren’t immediately available.

It’s the second affordable housing project by Haslem and Magellan.

Construction will soon start on a 12story, 120-unit, complex in Miami’s Wynwood section.

During the last few years of his NBA career, Haslem, 43, started Haslem Housing Venture to develop affordable housing in Miami-Dade County and found a partner which specializes in building affordable housing.

Amay A. Inamdar and Nick A. Inamdar are the co-founders and the principals of Magellan Housing and have been involved in developing 17 properties of 2,000 total affordable housing units with a cost basis in excess of over $400 million in Florida and Texas, according to the company’s website.

Magellan also scored a $2.3 million loan from Royal American Companies to buy land in South Florida to build more affordable housing.

Haslem, 6’7, played 20 seasons with the Miami Heat winning three NBA World Championships with NBA Hall of Famers Shaquille O’ Neal, Dwayne Wade and Chris Bosh, and LeBron James.

Despite being a mainstay of the Florida Gators teams that reached the NCAA tournament four consecutive seasons, Haslem went undrafted before signing with the Heat in 2003.