The Housing Trust Group has been selected by the Naranja Lakes Community Redevelopment Agency to advance a new affordable housing community totaling 328 residential units. The agency is expected to vote on a proposal that would provide the developer with both land and a $7 million loan in exchange for delivering and maintaining income-restricted housing on the site.
According to the proposal, the Housing Trust Group would receive the publicly owned property at a nominal price, with the key condition that the residences remain affordable for 99 years. The affordability restrictions would cover households earning between 30% and 80% of the area median income, positioning the project as a long-term workforce and affordable housing resource.
The South Florida Business Journal, as cited in the original report, notes that this arrangement reflects a broader pattern across South Florida in which local governments are conveying land to developers at little or no cost in order to spur affordable housing construction. Rising land costs are cited as a significant obstacle to building income-restricted housing, making public land contributions and subsidized loans an increasingly important component of project capitalization.
The planned development is designed as a mixed-use property that will combine housing with neighborhood-serving commercial uses. In addition to the 328 apartments, plans call for 11,466 square feet of commercial space, adding a retail or service component to support residents and the surrounding community.
The preliminary budget for the project is $126.4 million, highlighting the scale of investment required to bring new affordable housing online under current cost conditions. The $7 million loan from the Naranja Lakes Community Redevelopment Agency is intended to support this capital stack, alongside the agency’s commitment to transfer the site at a nominal amount.
The redevelopment site encompasses 4.61 acres at 27501 and 27525 South Dixie Highway. The Naranja Lakes Community Redevelopment Agency acquired the property in 2025 for $12.62 million. At present, the site includes a 27,260-square-foot retail center, which is expected to be repositioned as part of the new affordable housing project.
The long-term affordability covenant, public-sector land contribution, and below-market loan collectively underscore a policy-driven approach to addressing housing needs. If approved as anticipated, the initiative would add a sizable new affordable housing community while reinforcing the emerging model of public agencies using land and capital support to overcome cost barriers in the multifamily development pipeline.
