Hollywood affordable project is under construction. It should open in August 2021
Affordable housing developer Housing Trust Group has started construction on a 96-unit mixed-income development in Hollywood.
The Coconut Grove-based firm received a total of $36 million in construction loans, from Chase Bank and Walker & Dunlop through Freddie Mac. Florida Housing Finance Corporation provided $26 million in 9% low income housing tax credits.
The eight-story Hudson Village at 901 S. Federal Highway will include a 6,000-square-foot pool deck with a pool, BBQ area, clubhouse, catering kitchen, media center, ping-pong table, gym, bike storage and 122 parking spaces. It will be open to those earning 30%, 60% and 70% of the local area median income. Completion is slated for August 2021.
“Broward is among the most cost-burdened counties in the country, with very limited high-quality affordable housing, and almost all new apartment development east of I-95 is luxury product. So a community like this, in the heart of the central business district, will be a boon to the many low-income, working families who currently endure long commutes to get to their jobs in downtown Hollywood or at the hotels and restaurants along the beach,” said Matthew A. Rieger, president and CEO of Housing Trust Group in a statement.
The firm is replacing two garden-style public housing developments in Overtown — Rainbow Village Apartments and Gwen Cherry 23C — with mixed-income housing.
This story was originally published June 18, 2020 at 7:00 AM.
