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Housing Trust Group, Am Affordable Housing Break Ground On $55m Project In Fort Myers

FORT MYERS, Fla. — Housing Trust Group (HTG) and AM Affordable Housing have broken ground on a new, $55 million seniors housing development in Fort Myers.

Upon completion, Legacy Park II will total 130 units reserved for residents age 55 and older earning at or below 30, 60 and 70 percent of the area median income (AMI). Amenities at the two-building, five-story community will include a fitness center, swimming pool and a clubhouse with a cyber café, library and game room. Residents will have access to assistance with light housekeeping, laundry, grocery shopping and daily activities.

Funding for the project includes roughly $23 million in low-income housing tax credit equity through Raymond James; a $29 million construction loan from Fifth Third Bank; an $11.8 million permanent Freddie Mac loan through Grandbridge Real Estate Capital; approximately $9 million in rental recovery loan program and extremely low-income loans from the Florida Housing Finance Corp.; and $10.3 million in community development block grant disaster recovery funding from Lee County.

BDI Construction is serving as the general contractor on the project, and Realization Architects is the architect. The development team also includes civil engineer EnSite Inc., landscape architect Foster Conant & Associates and interior designer V Starr.

The post Housing Trust Group, AM Affordable Housing Break Ground on $55M Project in Fort Myers appeared first on Seniors Housing Business.

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Housing Trust Group, Am Affordable Housing Break Ground On $55m Project In Fort Myers

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