Housing Trust Group has successfully secured financing and begun construction on The Fountains at Hidden Lake, a $24.5 million affordable housing community for seniors aged 62 and above. Set to be completed by late 2025, the Crystal River project is being funded through various sources including $20.4 million in Low-Income Housing Tax Credits from Florida Housing Finance Corporation, a construction loan of $18.5 million and permanent loan of $4.15 million from KeyBank, as well as a loan of $340,000 from the City of Crystal River.
The community will offer 81 units designated for income-qualifying residents earning up to 40 or 60 percent of the area median income with monthly rents ranging from $581 to $1,045.The prime location at10456 W.Ashburn Lane boasts amenities such as a swimming pool,horseshoe court,f itness center,dog park,and multipurpose community room.Residents can also benefitfrom services like light housekeeping,grocery shopping,and laundry assistance.
This latest achievement by Housing Trust Group highlights their commitment towards providing affordable senior housing options while also contributing positively towards local communities’ economic growth.
