Developers Plan 210 Affordable Housing Units in Ft Lauderdale

Developers are moving forward with two projects that would bring 210 apartments to Fort Lauderdale as the state grapples with an affordable housing shortage.

McDowell Housing Partners is seeking a $640,000 opportunity loan from the City of Fort Lauderdale for a development planned through the state’s Live Local Act, the South Florida Business Journal reported. The law offers tax breaks and zoning incentives to developers who include below market-rate housing.

Miami-based developer MHP, led by William Patrick McDowell, filed an application for Ekos Melrose Manor, a 110-unit affordable apartment complex at 2790 West Broward Boulevard. The 1.2-acre site is under contract from a Plantation-based entity, and it is currently occupied by an automotive building.

The proposed project would have units for people making up to 80 percent of the area’s median income. Broward County’s AMI is $102,500. Ekos Melrose Manor would include 22 one-bedroom units, 33 two-bedroom units, 55 three-bedroom units and 92 parking spaces, according to preliminary site plans.

The city commission will consider the low-interest loan to McDowell Thursday. Under terms of the deal, the loan wouldn’t accrue interest for the first three years during construction. After that, it would accrue 2 percent in interest over the remaining 15.5 years. McDowell is also seeking tax credits from Florida Housing Finance Corporation, the outlet said. That application is pending. The project could qualify for other incentives because of its location on an environmentally designated brownfield site.

McDowell has worked on several affordable housing projects in the area, including the 410-unit Douglas Gardens Senior Residences in Pembroke Pines and Ekos Pembroke Park, a 150-unit live local project under construction.

Meanwhile, a partnership of Miami-based Housing Trust Group, Miami Lakes-based Elite Equity Development and Fort Lauderdale-based Greg Brewton & Associates is seeking rezoning approval for two vacant land plots in the Progresso Village neighborhood for the development of 100 affordable housing units, the South Florida Business Journal reported.

The city commission will consider an ordinance on Thursday that would rezone two parcels at 538 Northwest Eighth Avenue and 537 Northwest Seventh Terrace for mixed-use development. The parcels span 0.31 acres. The rezoning would create a five-parcel assemblage by matching the zoning of the neighboring parcels at 790 Sistrunk Boulevard and 547 and 551 Northwest Seventh Terrace.

The developers acquired the properties from Fort Lauderdale’s Community Redevelopment Agency for $1.3 million, which was fully funded by a CRA loan. The CRA also awarded a $5 million development incentive program loan.

In addition to affordable housing, the proposed project, called Sistrunk View, would include 5,500 square feet of ground-floor retail and 114 parking spaces.

—Grace McClung