The Real Deal Miami

Lauderdale senior housing project receives loan

U.S. Bank secures $39M financing package for Village Place community
December 18, 2013 12:45PM

Village Place rendering

Village Place rendering

The developer of a federally subsidized senior housing community in the Flagler Village neighborhood of Fort Lauderdale has obtained a $39 million financing package led by U.S. Bank.

Housing Trust Group, a local affordable housing builder, received the financing for the 112-unit apartment building, the Sun-Sentinel reported. The company is currently constructing the six-floor building with hopes of completing it by this summer. A formal groundbreaking ceremony is being held at the 720 Northeast Fourth Avenue site today.

The project, called Village Place, includes 82 one-bedroom apartments, 30 two-bedroom units, a swimming pool and gym.

Housing Trust has completed subsidized housing communities throughout the tri-county area of South Florida. [Sun-Sentinel]Eric Kalis