Communities

Los Altos
Palos Verdes
Gannet Pointe
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Los Altos Apartments

Los Altos Apartments was funded in Florida Housing Finance Corporation (FHFC) RFA 2016- 110 Housing Credit Financing for Affordable Housing Developments Located in Medium and Small Counties. Sources for this development are of 9% LIHTC, a conventional loan from 5th/3rd Bank, and Osceola County State Housing Initiatives Partnership (SHIP) funds and HOME funding. Tax credit equity is provided through Raymond James. Park Place Behavioral Healthcare provides referrals to Personals with Special Needs in need of housing. Construction was complete in November 2019 with 100% occupancy achieved by December 31, 2019. Los Altos is managed by AGPM, LLC.

Palos Verdes Apartments

Palos Verdes Apartments was funded in FHFC RFA 2016-109 SAIL Financing of Affordable Multifamily Housing Developments to Be Used in Conjunction with Tax-Exempt Bonds and Non-Competitive Housing Credits. Sources for this development are State Apartment Incentive Loan (SAIL), Multifamily Mortgage Revenue Bond (MMRB), 4% Low Income Housing Tax Credits (LIHTC), and HOME funding from Osceola County. Bond finance is provided by Barings, with U.S. Bank National Association as Trustee, and Bank of America. Tax credit equity is provided through Bank of America. Osceola County provided an additional $650,000 of HOME funds. Park Place Behavioral Healthcare provides referrals to Personals with Special Needs in need of housing. The community completed construction and achieved 100% occupancy in October 2020. Palos Verdes is managed by AGPM, LLC.

Osprey Pointe

Osprey Pointe was funded in FHFC RFA 2016-116 Housing Credit Financing for The Preservation of Existing Affordable Multifamily Housing Developments. Originally built in 1968 and subject to a Section 8 Housing Assistance Payments (HAP) contract, the property was formerly known as Shull Manor. Sources for this development are 9% LIHTC and a HUD 221(d)4 loan. Tax credit equity is provided through Wells Fargo. Sunshine Health provides referrals to Personals with Special Needs in need of housing. Construction was complete in June 2020 with 100% occupancy achieved in July 2020. Osprey Pointe is managed by Services Taylor Made Inc.

Gannet Pointe

Gannet Pointe was funded in FHFC RFA 2018-103 Housing Credit and SAIL Financing for the Development of Housing for Homeless Persons. It is a joint venture with Ability Housing, a leading developer of housing for homeless across Florida. Set-asides reserve 56 units for homeless individuals and families. Sources for this development are of 9% LIHTC, FHFC SAIL, County support for deposits, and a conventional loan from Bank of America. Community Hope Center and the Osceola County School District provide referrals to individual and families residing in motels. Construction was completed in phases with the first building ready for occupancy in December 2020, and the second building ready for occupancy in February 2021. 100% occupancy was achieved March 2021. Gannet Pointe is managed by Royal American Management.

La Estancia

La Estancia was funded in FHFC RFA 2020-104 SAIL Financing Farmworker and Commercial Fishing Worker Housing. Originally built in 1997, the community serves the housing, services, and outreach needs of Farmworker families working throughout Hillsborough and surrounding counties. Acquisition of the property and ownership interests closed May 2021 and funding closed in August 2021. The Rehabilitation work began on August 30, 2021, with substantial completion anticipated for May 2022. Sources for this development are a conventional loan from Neighborhood Lending Partners for the acquisition, and SAIL, Hillsborough County MMRB, and 4% LIHTC for the rehabilitation.

Tanager Square

Tanager Square was funded in FHFC RFA 2020-201 Housing Credit Financing for Affordable Housing Developments Located In Medium And Small Counties. Sources for this development are 9% LIHTC, provided through Wells Fargo, and a conventional construction to permanent loan, provided by Wells Fargo and First Housing Development Corporation. Disability Achievement Center will provide referrals to Personals with Special Needs in need of housing. Construction is anticipated to begin in the second quarter 2022 with substantial completion anticipated for fourth quarter 2023. Tanager Square is currently in credit underwriting.

Dillingham Apartments

Dillingham Apartments was funded in FHFC RFA 2021-102 SAIL Financing for Smaller Permanent Supportive Housing Developments for Persons with Special Needs. It is a joint venture with Osceola Mental Health Inc., d/b/a Park Place Behavioral Health Care, a leading provider of mental health and addiction recovery services in Central Florida. Set-asides reserve 6 units for homeless individuals and families. Sources for this development are FHFC SAIL, an Osceola County loan, and a City of Kissimmee loan. Community Hope Center will provide referrals to individual and families experiencing homelessness. Construction is anticipated to begin in the second quarter 2022 with substantial completion anticipated for fourth quarter 2023. Dillingham Apartments is currently in credit underwriting.

Falcon Trace I & II

Falcon Trace I & II is a proposed two-phase affordable housing multifamily development with 450 total apartments to be located adjacent to the Poinciana SunRail Station in unincorporated Osceola County. Birdsong Housing Partners was selected as the Affordable Housing Developer by Osceola County through a competitive RFLOI in Summer 2020. Pre-development planning is in process with the County for the overall vision, KPM Franklin for site design, and Architectonics Studio for architecturals.

Sparrow Pointe

Sparrow Pointe was funded in Georgia Department of Community Affairs 2021 QAP Competitive Application Round. Sources for this development are 9% LIHTC, provided through Affordable Equity Partners, Inc., and a conventional construction to permanent loan, provided by Sterling Bank. Construction is anticipated to begin in the fourth quarter 2022 with substantial completion anticipated for mid-2024. Sparrow Pointe is currently in credit underwriting.