Greenacres apartment complex to open in October

The Colonial Lakes Apartments, a new affordable multi-family project in Greenacres, will open its doors in October, the Palm Beach Post reported. The $19 million project, which will have 120 units, is being built with money from the federal Neighborhood Stabilization Program along with a bond from Palm Beach County and funds from tax credits. “It’s providing stability for the neighborhoods wracked by foreclosure,” said Armando Fana, director of the Department of Housing and Urban Development’s Miami field office. It is being built by the Richman Group of Florida and will be open for tenants with “low to moderate incomes.” [Palm Beach Post]