A 75 unit affordable senior housing project dubbed Hillsboro Landing is currently under construction in Deerfield Beach, Florida. Housing Trust Group (HTG) partnered with Broward Housing Authority to build the senior housing project. It marks the start of a two phase redevelopment at a public housing site, which was previously demolished in 2007. However, the second phase of the project will offer 80 fully affordable, single family homes.
The developer HTG, recently closed in on $41 million as financing for Hillsboro Landing. Funding will also come from several other sources including $25 million as development loan from Fifth Third Bank. In addition, a $12.2 million permanent loan will be provided by Grandbridge Real Estate Capital. About $17.4 million in 9 percent LIHTC equity syndicated through Raymond James is also expected. Another $17.4 million will come from the State Apartment Incentive Loan and Community Housing Impact and Preservation loan. Other sources include $600,000 from Extremely Low Income financing and a $100,000 grant from Broward Housing Finance Authority.
HTG is building the 6-story Hillsboro Landing senior apartments at 3851 N. Dixie Highway in Fort Lauderdale Deerfield Beach. Therefore the property location will provide direct access to downtown Miami, and it’s also in close proximity to Interstate 95. The apartments will be reserved for seniors between 22 and 60% of the Area’s Median Income (AMI). The rent rate will range between $375 and $1,225 per month.
Featured amenities at Hillsboro Landing
Upon completion, Hillsboro Landing will feature a mix of one and two bedroom floor plans, ranging between 702 and 927 square feet. It will be a pet friendly property, consisting of 45 one bedroom units and 30 two bedroom units. Additionally, residents will also have access to a 5,000 square foot amenity space. This amenity space will accommodate a fitness center, multipurpose room, bocce court, rooftop terraces, an elevator and 96 parking spaces. The developer also intends to meet you National Green Building Standards for the Hillsboro Landing project. As a result, the property will be well equipped with energy efficient appliances and lighting.
The team working on the Hillsboro Landing project includes ATL Architecture as the main architect and Ferncore Corp as general contractor. While Keith & Associates will provide engineering services, and Builders Design will handle interior design. Sieger Suarez Architects will be responsible for the landscape architecture designs. The developer expects the project to reach completion by October of 2024.