High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + North Florida  + Apartments  | 
Nonprofit developer Ability Housing has announced plans for the Villages of New Augustine in St. Johns County.

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.

Connect

Inside The Story

About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

  • ◦Development
New call-to-action
New call-to-action