HTG Starts Work on Affordable Project Near Fort Lauderdale
The developer received $36 million in financing for a 96-unit development catering to low- and middle-income residents.
Hudson Village. Image courtesy of Housing Trust Group
A few days after breaking ground on a Northern Florida project, Housing Trust Group has started construction of Hudson Village, a 96-unit affordable and workforce housing community in Hollywood, Fla. In order to bring the $36 million project online, the developer teamed up with Corwil Architects, general contractor HTG Gomez Construction LLC and landscape architects Witkins & Hultz. Completion is slated for August 2021.
The project received financing from various sources: Chase Bank originated a $27.9 million construction loan, while Walker & Dunlop provided $9.8 million in permanent financing through Freddie Mac. An additional $26 million in 9 percent low-income housing tax credits came from the Florida Housing Finance Corporation, syndicated through Raymond James.
Located at 901 S. Federal Highway in the city’s central business district, the upcoming eight-story building will comprise one- and two-bedroom apartments averaging 918 square feet. All units will cater to residents earning 30, 60 and 70 percent of the area’s median income. Amenities will include a swimming pool with a 6,000-square-foot deck, clubhouse, media center and fitness center, as well as a three-story parking garage. Resident programs will feature adult literacy, employment assistance and financial management.
The development site is roughly one mile southeast of the city center, with numerous restaurants, parks, grocery stores and a library in the surrounding area. The property is one mile east of another affordable housing project, a 120-unit community for seniors over 62.
