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.