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Ability Housing to Bring New Affordable Housing to St. Augustine
Ability Housing has announced plans for the Villages of New Augustine, the nonprofit developer’s first multifamily community in St. Johns County.
Villages of New Augustine will be a four-building 92-unit community on 6.5 acres in the West Augustine neighborhood. It will have 20 one-bedroom apartments, 36 two-bedroom apartments and 36 three-bedroom apartments. Rent will be determined by each household’s income.
The development will break ground this summer.
Funding for the $25 million project has been secured through various state, local and private sources. Florida Housing Finance Corporation awarded $1.625 million in Low Income Housing Tax Credits for the development, which will result in a $14,867,263 equity investment from a nonprofit syndicator, National Equity Fund, with Bank of America providing the equity investment.
The Board of County Commissioners approved a $460,000 Affordable Housing Grant and a $1,207,134 award of American Rescue Plan Act funds.
- ◦Development

