HTG Launches $47M Affordable Senior Housing Project in Hollywood, FL
Housing Trust Group (HTG) secured financing and broke ground on Villa Jordana, a new $47 million affordable senior community in Hollywood, Florida.
Located at 826 S Dixie Highway, the 96-unit development will provide rental housing to residents age 62 and older. Villa Jordana will serve low-income seniors earning between 33% and 60% of the area median income, with rents for qualifying residents ranging from $713 to $1,555 per month – well below the average City of Hollywood rent of $2,179. The property is slated for completion in 2027.
Villa Jordana is financed with $33.8 million in Low-Income Housing Tax Credit equity allocated by the Florida Housing Finance Corporation, and syndicated by Raymond James; a $32 million construction loan and a $10.2 million permanent loan from Capital One through Freddie Mac; along with a $640,000 loan from the City of Hollywood.
The design and construction team for Villa Jordana includes general contractor Ballast Construction and architect Realization Architects.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
Learn more
312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout