Bradenton, Fla. (Oct. 24, 2019) – Housing Trust Group (HTG), one of the nation’s largest developers of multifamily communities, celebrated the grand opening of The Addison, a $22 million development in Bradenton, Florida. The Addison offers 77 affordable apartments and 13 market-rate apartments, with monthly rents ranging from $299 to $1,325, depending on residents' income.
Public officials, community members and guests gathered this morning at the property located at 702 6th Avenue East for an official ribbon-cutting reception. During the ceremony, Housing Trust Group, thanked Manatee County, the City of Bradenton, Mayor Wayne Poston, and Congressman Vern Buchanan for recognizing the dire need for affordable housing in their community and championing this development. HTG broke ground on the development in June 2018.
"Bradenton, like many cities in Florida, is suffering from a severe shortage of affordable housing,” said Matthew A. Rieger, President & CEO of HTG. “We've been working hard to design and build a community that provides residents with new, safe and clean affordable and workforce housing.”.
The Addison, a mid-rise building, is 100% leased and comprised of 25 one-bedroom apartments; 52 two-bedroom apartments; and 13 three-bedroom apartments ranging in size from 607 sq. ft to 1,142 sq. ft. Fourteen units were set aside for residents earning at or below 30 percent of area median income (AMI); Twenty-one for residents earning at or below 60 percent of AMI; forty-two units earning at or below 70 percent area median income (AMI) and the remaining thirteen are market-rate units. Amenities at The Addison include a state-of-the-art fitness center, club room, locker storage, resort-style pool, dog park, playground, media center and 650 square feet of retail space, which will be leased to a professional tax and insurance preparer.
The project team for The Addison included local South Florida firms such as Place Architecture, Hennessy Construction, Vickstrom Engineering, and interior designer, Christina Stiles.
