Atlantic | Pacific breaks ground on Fort Lauderdale affordable housing

Miami /
Apr.April 26, 2016 02:15 PM

The affordable housing arm of Atlantic | Pacific Companies broke ground on a new LEED certified development recently. 

Northwest Gardens V is the fifth phase of the city of Fort Lauderdale housing authority’s redevelopment project. When completed in December, it will include 100 new construction units and 100 redeveloped units at 700 Northwest 12th Avenue and 100 Southeast 18th Avenue in Fort Lauderdale, with amenities like a fully furnished clubhouse, a computer lab, library, community gardens and a bocce ball court.

The community features studio, one-, two-, and three-bedroom apartments, according to a press release. The Northwest Gardens project is the first in the Southeastern U.S. to be pre-certified LEED Neighborhood Gold. All of the units will be set aside for residents, aged 55 and up, making 60 percent or below the area median income.

Last year, Atlantic | Pacific Companies grew its South Florida portfolio by 2,000 residential units. The company’s property leasing and condo association management division added properties in Brickell, the Miami Design District, Miami Beach, Fort Lauderdale and Delray Beach. And in 2013, A|P acquired Carlisle Development Group’s affordable housing division.

Several affordable housing projects are under development in South Florida. Nearby in Fort Lauderdale, Housing Trust Group opened Village Place Apartments, a $25 million affordable housing project for seniors, in April. Those units target residents aged 55-and-older who earn between 25 percent and 60 percent of the area’s median income.

In Miami’s Overtown neighborhood, where affordable housing is on the rise, A|P and Palmetto Homes are building Island Living, an eight-story building with 70 units and ground-floor commercial space.

 

Related Articles

arrow_forward_ios
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Lennar Executive Chairman Stuart Miller (iStock)
“The home used to be just shelter. Now it is the hub of our entire lives”: Lennar reports strong Q4, full-year results
“The home used to be just shelter. Now it is the hub of our entire lives”: Lennar reports strong Q4, full-year results
Rent-to-own startup Divvy Homes expands to South Florida
Rent-to-own startup Divvy Homes expands to South Florida
Rent-to-own startup Divvy Homes expands to South Florida
Ben Schachter, Sean Black and Mike Pappas (Signature, Getty, Keyes)
Knock expands home lending program into South Florida 
Knock expands home lending program into South Florida 
CEO of Atlantic Pacific CEO Howard Cohen and Homestead Avenue and Southwest 184th Street, Miami-Dade (Google Maps)
Atlantic Pacific’s plan for mixed-use affordable housing project near Cutler Bay advances
Atlantic Pacific’s plan for mixed-use affordable housing project near Cutler Bay advances
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley
Baptist, Belmont gain approval for luxury senior living in Coral Gables
Baptist, Belmont gain approval for luxury senior living in Coral Gables
9885 Palomino Drive (Credit: Google Maps)
Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
5010 Nob Hill Road (Credit: Google Maps)
Sunrise affordable senior housing facility sells for $30M
Sunrise affordable senior housing facility sells for $30M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...