A 112-unit affordable housing complex for seniors older than 55 has finished construction in Fort Lauderdale, according to a news release from Housing Trust Group, the project’s Coconut Grove-based developers.
The development, Village Place Apartments, received more than $22.5 million in public money from state and local housing authorities — about a third of its total funding — and half of the apartments are reserved for households earning no more than 50 percent of Broward’s median income. A couple would have to make less than $33,120 in order to qualify for a unit.
“This is a standout example of how public-private partnerships can be successfully created to provide much needed affordable and safe housing in Broward County while improving the quality of life for the area’s senior residents and increasing property values as well,” Matthew Rieger, CEO of Housing Trust Group, said in a statement.
Monthly rent is $903 for a two-bedroom apartment and $760 for a one-bedroom.
The complex, which was designed by Miami architecture firm Sotolongo Salman Henderson, has already leased all of its units, according to the developers. It is located at 720 NE Fourth Ave.