Lakeland, Fla. (January 11, 2021) – Housing Trust Group (HTG), one of the nation’s largest developers of affordable housing, has begun leasing apartments at Twin Lakes Estates II, an affordable housing community with 132 apartments for families located at 501 Hartsell Avenue in Lakeland, Florida. The property will open in the first quarter of 2021, with rents ranging from $437 to $908 for income-qualifying residents. 

Twin Lakes Estates is a partnership between Housing Trust Group and the Lakeland Housing Authority to redevelop an aging public housing complex on the southern tip of Lake Beulah (formerly West Lake Apartments) into a new, affordable community with state-of-the-art amenities. Apartments will be set aside for residents earning at or below 40% or 60% of area median income (AMI). 

Prospective residents interested in leasing should contact 813-417-0251.

“Safe, clean and affordable housing has never been more important given our current health crisis,” said Matthew A. Rieger, President and CEO of HTG. “Many families are on the brink of economic devastation due to a loss of income, so it’s more important than ever that our federal and state lawmakers mobilize to ensure more affordable developments like this one are built quickly and help Florida’s hard-working families get back on their feet.” 

Twin Lakes Estates II is the second of a three-phrase development that will deliver a total of 318 affordable apartments for seniors and families in three phases. Phase 1 was completed in August of 2019 and delivered 100 affordable apartments for seniors (age 62 and up). Phase II will consist of 22 one-bedroom, 62 two-bedroom and 48 three-bedroom apartments in eight three-story, garden-style apartment buildings. Amenities for the second phase include a fully loaded 3,446-square-foot clubhouse with a large community room and catering kitchen, a lounge room and computer lab. Outdoor amenities include a picnic pavilion, walking promenades and a playground. 

Twin Lakes Estates II was financed with a $12.1 million construction loan from TD Bank; $8.4 million of 4% low-income housing tax credit equity through Raymond James; a combined $6.6 million State Apartment Incentive Loan (SAIL) and Extremely Low Income (ELI) loan, both from Florida Housing Finance Corporation (FHFC); and a $790,000 loan from Lakeland Housing Authority. The development also involved The Department of Housing and Urban Development (HUD) approvals for mixed financing. 

The building team for Twin Lakes Estates – Phase II is The Lunz Group, Boggs Engineering, and HTG Rodda, LLC. 

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.

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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.