McDowell Building 16th Florida Affordable Housing Project
McDowell Housing Partners (MHP) announced the financial closing and the beginning of construction of Ekos at Pembroke Park, a 10-story, 150-unit affordable senior housing community located at 5595 S.W. 41st in Pembroke Park, Florida.
It’s McDowell Housing Partners’ 16th affordable housing project to start construction in the state of Florida.
Financing for the $64.68 million development was made possible by an issuance of tax-exempt bonds and subordinate HOME – ARP loan from the Housing Finance Authority of Broward County; a subordinate Live Local State Apartment Incentive Loan (SAIL) from the Florida Housing Finance Corp.; LIHTC equity from U.S. Bank; and senior construction and permanent loans from R4 Capital.
The closing comes on the heels of McDowell’s near completion of Douglas Gardens Senior Health and Living, a 410-unit, the largest affordable living development for seniors in Broward County.
JWR Construction is the general contractor. Ekos at Pembroke Park is expected to be completed in the summer of 2027.
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Essex Property Trust, Inc.
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