FOR IMMEDIATE RELEASE
HOUSING TRUST GROUP & AM AFFORDABLE HOUSING COMPLETE AFFORDABLE COMMUNITY FOR SENIORS IN FLORIDA PANHANDLE
Shoreline Villas’ amenities include a pickleball court, putting green, community garden, dog park, and pool – with rents starting at $587 per month
Fort Walton Beach, Fla. (April 26, 2023) – Housing Trust Group (HTG), one of the nation’s largest developers of affordable housing, and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, announce the official completion of Shoreline Villas, a new 72-unit affordable housing community catering to seniors (62 and older) in Fort Walton Beach, Florida. Apartments at Shoreline Villas are reserved for age- and income-qualifying residents who earn at or below 33 and 60 percent of the area median income (AMI), with rents ranging from $587 to $1,300 per month.
Located at 302 Dates Avenue NW, the three-story garden-style community offers an array of attractive amenities including a 3,155-square-foot clubhouse with a spectacular, two-story atrium, an activity room that includes a catering kitchen and bar, computer stations, and gathering areas. Other amenities include a theater room, fitness center; an 800-square-foot, luxury-style swimming pool; a putting green, pickleball court, and walking path; a dog park; and a community garden. Residents also have access to literacy training, financial assistance, and employment assistance services on-site.
“As rents skyrocket across the state of Florida, Shoreline Villas provides a safe haven for seniors on limited budgets – a place they can afford and be proud to call home,” said Matthew A. Rieger, President and CEO of HTG. “This community is one of the newest in our multifamily portfolio, catering to seniors with an active lifestyle by providing a number of high-quality amenities.”
Funding sources for Shoreline Villas include $10.4 million in 9% Low Income Housing Tax Credit Equity (LIHTC) from JP Morgan Chase and Raymond James as Syndicator, a $11.9 million construction loan and $5.1 million permanent loan, both provided by JP Morgan Chase Bank.
The project team for Shoreline Villas includes general contractor HTG Hennessy LLC, architect PQH Group, engineering firm Choctaw Engineering, landscape architect Booth Design Group, interior designer Stiles Interior and Builders Design, and surveyors Panhandle Associates.