After almost two years since breaking ground, Housing Trust Group has opened Arbor View, a $27 million project in Margate, Fla. The 100-unit affordable community serves individuals age 55 and over, earning at or below 60 percent and 33 percent of the area’s median income.
Located at 3100 N. State Road 7 in Broward County, the fully leased property comprises 64 one- and 36 two-bedroom apartments ranging from 715 to 915 square feet. Rents at Arbor View range from $428 to $1,002 a month.
Spanning across almost 3 acres, the community includes:
- a swimming pool
- dog park
- computer lab
- community room
- fitness center
“With 70 percent of Broward rental households cost-burdened, the need is dire, particularly for retirees and veterans on fixed incomes. … Corporate tax reform and rising interest rates has made financing these developments all the more challenging. Meanwhile, the housing crisis grows steadily worse as wages continue to stagnate while real estate prices rise,” said HTG President & CEO Matthew Rieger, in a prepared statement.
Corwil Architects and Current Builders were also part of the project. A collaboration of RPJ Inc., M.A. Suarez & Associates and HSQ. B Pila handled interior design.
HTG also recently completed construction of the first phase of Hammock Ridge, an affordable development in Spring Hill, as well as Park at Wellington in Holiday, Fla.
Image via Google Street View