Heron Estates Family will deliver 79 townhomes with monthly rents starting at $264
Riviera Beach, Fla. (November 4, 2020) – Housing Trust Group (HTG), one of the nation’s largest developers of affordable housing, has closed on financing and broken ground on Heron Estates Family, a new $21.4 million affordable townhome community in Riviera Beach, Florida. Units at Heron Estates Family will be set aside for income-qualifying residents who earn at or below 30, 60 and 70 percent of area media income (AMI), with rents ranging from $264 to $1,598 per month. The property is scheduled to deliver in October of 2021.
The development is a public-private partnership between HTG and the Riviera Beach Housing Authority, and is the second phase of a two-phase redevelopment that includes Heron Estates Senior, a 101-unit garden-style apartment community for seniors that HTG completed in 2019.
“We applaud the City of Riviera Beach for investing in high-quality affordable housing for both families and seniors,” said Matthew A. Rieger, President and CEO of HTG. “We know Palm Beach County’s population will continue to grow, with people from all over the country moving to the area for the business-friendly climate and warm weather. It’s important, however, that members of our community earning less than area median – many of them deemed ‘essential workers’ throughout this pandemic – are not displaced or deprived of a safe and affordable place to call home.”
Financing for Heron Estates Family include an $11 million mortgage bond from the Florida Housing Finance Corp. (FHFC) that will be purchased by JPMorgan Chase Bank; a $6.1 million loan from FHFC’s SAIL program; a $1.44 million loan from the National Housing Trust Fund; and a $500,000 HOME loan from Palm Beach County.
Located at 2003 West 17th Court, the two-story townhome community will offer a mix of one-, two- and three-bedroom units ranging from 712 square feet to 1,354 square feet. Community amenities will include a clubhouse with club room, state-of-the-art fitness center, media center, and business center/leasing office; a playground, pool, dog park, multipurpose sports court, and outdoor grill/lounge seating areas. Residents will also have access to employment assistance, financial management, and literacy services on-site.
The project team for Heron Estates Family includes general contractor Newport Construction LLC, architect Luntz Group, and engineering firm Wantman Group Inc.
About Housing Trust Group
Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities whose real estate transactions exceed $3 billion in commercial, land and residential developments across Florida, Georgia, Texas and Arizona. HTG develops, builds and manages a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-use developments. For more information, please visit www.htgf.com.
Rents at Osprey Pointe start at $504 per month for income-qualifying residents
Pasco County, Fla. (October 20, 2020) – Housing Trust Group (HTG), one of the nation’s largest developers of affordable housing, has officially completed Osprey Pointe, a 110-unit affordable apartment community located at 12870 Courtyard Estates Boulevard in Dade City, approximately 45 minutes northeast of Tampa. The property is already 100% occupied.
Apartments at the new development are reserved for family households earning at or below 60 percent of Area Median Income (AMI) and 40 percent of AMI, with one-, two- and three-bedroom apartments available for rent to income-qualifying residents. Rents range from $411 to $947 per month.
“Pasco County families are hurting from the profound economic impact of the coronavirus pandemic, so the opening of this community could not come at a better time,” said HTG President and CEO Matthew A. Rieger. “Communities like Osprey Pointe provide an important lifeline for families devastated by job losses or other unexpected circumstances and need a safe, clean and secure place to live while they rebuild. We’re grateful to Pasco County and Dade City officials for recognizing the urgent need for more affordable housing here, and working with us to bring this development to completion.”
Apartments at Osprey Pointe range from 675 to 1,151 square feet. Community amenities include a fitness center, tot lot, dog park, ample green space with landscaping recognized as Silver Level by the Florida Friendly Landscaping program, fitness room, Internet Café, gathering rooms and a resort-style swimming pool.
The $32.8 million development was financed through a combination of 4% low income housing tax credits (LIHTCs), a construction loan by Fifth Third Bank and a permanent loan from Key Bank. Pasco County also committed a SHIP loan in the amount of $450,000, and Florida Housing Finance Corporation awarded the development $6 million in SAIL funds and $556,900 in ELI funds.
HTG has delivered over 7,000 affordable apartments to Florida residents since its inception, and currently has several other affordable communities under development across the state spanning from Fort Walton Beach to Miami.
Prospective residents interested in leasing should contact HTG Management at
(352) 437-3100.
About Housing Trust Group
Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities with over 7,000 affordable and market-rate units and whose real estate transactions exceed $3 billion in commercial, land and residential developments across Florida, Georgia, Texas and Arizona. HTG develops, builds and manages a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-use developments. For more information, please visit www.htgf.com.
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Oak Valley is a partnership between HTG and non-profit AM Affordable Housing Inc., an organization founded by former Miami Heat champion and NBA Hall of Famer Alonzo Mourning. This marks HTG’s second collaboration with AM Affordable Housing. In 2016, HTG and AM Affordable Housing completed a years-long partnership to deliver the award-winning Courtside Apartments in downtown Miami’s historic Overtown neighborhood.
“The affordable housing crisis affects everyone, but older citizens – those who are retired or living on fixed incomes – are particularly vulnerable due to the higher healthcare expenses that usually occur with age,” said Matthew A. Rieger, President and CEO of Housing Trust Group. “Oak Valley will provide Ocala’s older residents with a safe, clean and affordable place to live, and we’re proud to be partnering once again with AM Affordable Housing to bring this new development to fruition to benefit the local community, and we give a special thanks to the City of Ocala for its support.”
The project and design team for this development includes general contractor HTG Rodda, LLC (JV with Rodda Construction); Ocala engineering firm Tillman & Associates; architecture firm The Lunz Group; and interior design group Cristina Stiles Interiors.
The project design and construction team for Hudson Village includes general contractor HTG Gomez Construction, LLC; engineering firm Thomas Engineering; architecture firm Corwil Architects; and landscape architects Witkins & Hultz.
Located at 1211 East Lafayette Street, Lafayette Gardens is located on a 5.76-acre site in the Woodland Drives section of Tallahassee, approximately 1.5 miles from the downtown. The site is located next to The Moon, a 35-year-old event and performance space, within a half mile of a Winn-Dixie grocery store, Myers Park, several schools, and within a few minutes of several other stores and businesses.
“Representatives of the Indianhead, Myers Park and Woodland Drives neighborhoods, along with Lafayette Street business owners, met with developer HTG last summer to discuss the finer points of the project and how it would affect our area,” said Mary Frederick, President of the Woodland Drives Neighborhood Association. “Based on that feedback, HTG went back to the drawing board numerous times to ensure this development could be the best it could be, including saving several trees, hiring a local landscape firm, and including a 10-foot multi-use bike/walking trail to encourage multimodal transportation and create a safe walkway for kids going to school. With this apartment development so close to stores and restaurants, we hope it will further solidify the reliance of non-vehicular transportation and its residents can help support nearby businesses. It will also help tremendously regarding Tallahassee’s dire needs for affordable housing for workers.”
The new development will consist of four three-story buildings with apartments ranging from 709 square feet (one bedroom) to 1,159 square feet (three bedroom) and will be reserved for income-qualifying residents who make at or below 33 percent of area median income (AMI) or 60 percent of AMI. Community amenities include a clubhouse, pool, playground, media center, a state-of-the-art fitness center, and a bike/walk trail. Residents will also have access to employment assistance, financial management, and literacy services on-site.
Funding sources for Lafayette Gardens include an initial $15 million construction loan by Chase Bank, $16.1 million in 9 percent Low Income Housing Tax Credit Equity (LIHTC) provided by Raymond James and a $4.8 million permanent loan through Freddie Mac/Walker & Dunlop.
HTG presented three potential scenarios, each containing over 1,000 new affordable/mixed-income apartments, for the redevelopment of a 10.4-acre site in Miami’s historic Overtown neighborhood
Housing Trust Group (HTG) was granted a ground-lease by the Miami-Dade County Commission to begin the process of procuring financing to transform an aging public housing site in Miami’s Overtown neighborhood into a vibrant mixed-income community.
The Commission granted HTG the ground lease on the 10.4-acre site containing two adjacent public housing communities, Rainbow Village Apartments and Gwen Cherry 23C, located at 2000 N.W. Third Avenue (on the corner of N.W. 20th Street). The two 1970s-era garden-style public housing developments contain a combined 136 apartments. The ground-lease enables HTG to apply for financing, including low income housing tax credits, to subsidize construction and development. If awarded financing, HTG would begin construction in late 2021.
In its proposal, HTG presented three progressively ambitious redevelopment scenarios – each ensuring phased development to minimize disruption to current residents, and ensure none will be permanently displaced. All scenarios also adhere to “Smart Growth” principles – creating pedestrian-friendly, walkable neighborhoods close to jobs, shops, schools and transportation hubs – as well as inclusion of public art through Miami-Dade’s Arts in Public Spaces program.
· Scenario A: Subject to re-zoning to T-5 under the Miami 21 Zoning Code, HTG would develop 1,014 mixed-income apartments (136 public housing units, 134 affordable housing units, 733 workforce/market-rate units, and 11 for-sale townhomes). All units would have high-quality finishes, energy-efficient appliances, walk-in showers and walk-in closets. New community amenities include a community center, early education/day-care center, state-of the-art fitness center, media center/library, 7,600 square feet of retail, resort-style swimming pool, picnic areas and barbecue grills, walking paths, and play areas.
· Scenario B – Subject to re-zoning to T-5 and later T6-8 under a Special Area Plan, HTG would develop a total of 1,316 mixed-income apartments (136 public housing units, 106 affordable units, 1,059 workforce/market rate units, and 15 for-sale townhomes). Amenities the same as above.
· Scenario C – HTG envisions a new district that expands beyond the Rainbow/Gwen Cherry site to include an additional 10.7 acres in partnership with adjacent property owners. This scenario would allow for up to 70,000 square feet of additional retail, office and cultural/community spaces..
"Our mission is simple," said Matthew A. Rieger, President and CEO of Housing Trust Group. "To provide without compromise the highest quality multifamily communities possible, and create a vibrant, attractive mixed-use community in Overtown, where people of all ages, races, cultures and economic strata can come together to live, learn, work and play. We assembled a best-in-class development team with strong local expertise, community involvement, and neighborhood relationships to ensure that this realizes its full potential to be a truly transformative development and provides the services and amenities that this neighborhood deserves."
About Housing Trust Group
Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities whose real estate transactions exceed $3 billion in commercial, land and residential developments across Florida, Georgia, Texas and Arizona. HTG develops, builds and manages a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-use developments. For more information, please visit www.htgf.com.
