Housing Trust Group (HTG), one of the nation’s largest developers of affordable housing, has closed on financing and broken ground on Bryce Landing, a new $21.9 million affordable housing community in Clay County, Florida – roughly 40 minutes south of Jacksonville. Apartments at Bryce Landing will be reserved for income-qualifying residents who earn at or below 30 and 60 percent of area median income (AMI), with rents ranging from $314 to $1,039 per month. The property is scheduled to deliver in the spring of 2022.
“The need for affordable housing in Florida is at an all-time high, and parts of North Florida like Clay County are feeling that need the most,” said Matthew A. Rieger, President and CEO of HTG. “We are honored and proud to address the demand and build Bryce Landing in a region that so desperately needs it. With the help of our committed partners, we look forward to building a quality, safe affordable housing community for the residents of Clay County.”
Located at 1914 Bryce Landing Way, the four-building garden style community will offer a mix of one-, two- and three-bedroom units ranging from 717 square feet to 1,191 square feet. The community’s amenities will include a clubhouse that contains a state-of-the-art fitness center, media center, resort-style pool and cabanas. Additional outdoor amenities will consist of a dog park, 15,000-square-foot park, playground, picnic pavilion, and an observation deck for view of the natural surrounding wetlands. Residents will also have access to literacy training, financial assistance, and employment assistance services on-site.
Funding sources for Bryce Landing include a $16.5 million construction loan, a $6.3 million permanent loan from JPMorgan Chase, and $1.7 million in 9% Low Income Housing Tax Credits from Florida Housing Finance Corporation syndicated through Raymond James Tax Credit Funds.
The project team for Bryce Landing includes general contractor Kellogg & Kimsey, Inc., architect Fugleberg Koch, landscape architect Wood and Partners, and engineering firm CHW Consultants.