Partially Affordable Community Opens in Southwest Florida
- Oct 25, 2019
Housing Trust Group has opened The Addison, a 90-unit development in Bradenton, Fla. Following a $22 million investment, the community encompasses 77 affordable apartments and 13 market-rate units. Place Architecture, Hennessy Construction, Vickstrom Engineering and interior designer Christina Stiles were part of the team that broke ground on the project in June 2018.
Located at 702 Sixth Ave. E in Manatee County on a major transit corridor, The Addison provides easy access to the South Tamiami Trail. Tampa, Fla., is roughly 45 miles north. The community includes a fitness center, club room, locker storage, swimming pool, dog park, playground and media center. The entire 650-square-foot retail space available at the property will be leased to a tax and insurance preparer.
The five-story building is fully occupied, comprising 25 one-, 52 two- and 13 three-bedroom apartments that range between 607 and 1,142 square feet. Fourteen units are set aside for residents earning at or below 30 percent of the area’s median income, 21 are for those earning at or below 60 percent of the AMI, 42 serve households earning at or below 70 percent of the AMI and the remaining 13 are market-rate units. Rents are between $299 and $1,325 per month.
Back in August, Housing Trust Group completed construction on the first phase of Twin Lakes Estates, a 100-unit affordable senior housing community in Lakeland, Fla.