Housing Trust Group has secured financing and begun construction on Fox Pointe, a $25.7 million affordable housing community in Daytona Beach. The project was made possible by raising nearly $40 million from various sources, including $18.3 million in Low-Income Housing Tax Credits, $13.5 million in construction financing, and an additional $7 million from other agencies.
The 70-unit apartment complex will be reserved for residents with incomes at or below 22%, 30%, 60%, and 80% of the area median income (AMI). Rents will range from as low as $319 to a maximum of $1,610 per month. Completion is expected by Q4 of 2025 with leasing set to begin that fall.
Located at the address of1088 Tenth Street within Holly Hill city limits, Fox Pointe will span over more than eighty thousand square feet and offer amenities such as a swimming pool, clubhouse with lounge area,business center,picnic pavilion,dog park,and playground along with access to fitness facilitiesand on-site resident services.
The development team for this project includes Park & Eleazer Construction working alongside FK Architecture.The post Housing Trust Group Obtains Construction Loan for Daytona Beach Affordable Apartments appeared first on Connect CRE.
