Broward County is making significant strides in addressing its affordable housing crisis with the recent opening of a new senior community and the commencement of several large-scale multifamily projects. These initiatives aim to provide much-needed housing options for various income levels, from seniors to workforce residents.
Key Takeaways
- A new $42 million affordable senior community, Hillsboro Crossing, has opened in Deerfield Beach, offering 75 units for residents aged 62 and older.
- Several other multifamily developments are underway or planned, including a 400-unit community in Fort Lauderdale and a 383-unit project in Davie.
- These projects involve substantial public-private partnerships and financing, highlighting a commitment to increasing affordable and workforce housing stock.
Hillsboro Crossing Opens Doors for Seniors
Housing Trust Group (HTG), in partnership with the Broward County Housing Authority, has celebrated the opening of Hillsboro Crossing, a $42 million affordable senior community in Deerfield Beach. This development provides 75 apartments specifically designed for residents aged 62 and older. The community offers one- and two-bedroom units with rents ranging from $348 to $1,926 for income-qualifying residents.
Hillsboro Crossing features 5,000 square feet of amenity space, including a fitness center, multipurpose room, and rooftop terraces. The development also prioritizes sustainability, meeting National Green Building Standard certification. This project is part of HTG’s broader commitment to affordable housing, contributing to over 900 affordable units in Broward County and more than 3,000 across South Florida.
Expanding Workforce Housing Options
Broward County is also seeing significant investment in workforce housing. Affiliated Development has launched construction on The Era, a 400-apartment community in Fort Lauderdale, following an $80 million financing package. This project will reserve at least 210 units for residents earning between 80% and 120% of the area median income (AMI).
In Davie, ANF has been named the construction manager for Parks at Davie, a 383-unit multifamily development. This project, a joint venture between 13th Floor Investments and JSB Capital Group, will include one- to three-bedroom apartments and designate approximately 77 units as workforce housing for residents earning up to 120% of the AMI. The community is expected to be completed in 2027.
County’s Commitment to Affordable Housing
These developments underscore Broward County’s dedication to tackling the affordable housing shortage. Through collaborations with developers like HTG, Affiliated Development, and partnerships with entities like the Broward County Housing Authority, the county is actively working to create diverse housing opportunities. The financing for these projects often involves a mix of public and private funding, including tax credits, loans, and grants, demonstrating a comprehensive approach to addressing housing needs across different demographics.
Sources
- HTG and Broward County Housing Authority Celebrate Opening of $42M Affordable Senior Community, citybiz.
- Broward County considers $26.7M for affordable housing projects, The Business Journals.
- Work begins on Fort Lauderdale workforce housing following $80 million financing package, South Florida Agent Magazine.
- ANF Named Construction Manager for Parks at Davie, a 383-Unit Multifamily Community in Broward County |
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