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Housing Trust Group, AM Affordable Break Ground in Crestview
Miami-based Housing Trust Group (HTG) and AM Affordable Housing, a nonprofit founded by NBA Hall of Famer Alonzo Mourning, have closed on financing and commenced construction on Princeton Grove, a new $23.5-million affordable housing community catering to seniors aged 62 and up along with senior veterans of the armed services in Crestview, FL.
Located approximately an hour east of Pensacola, apartments at Princeton Grove will be reserved for income-qualifying residents. Additionally, the developer has committed a minimum of five apartments for veterans who meet the same household income and age criteria. The property is scheduled to open in Fall 2024.
Princeton Grove is the seventh affordable housing collaboration between HTG and AM Affordable Housing. Other joint ventures include the award-winning Courtside Apartments in Overtown, Miami, which was completed in 2016, and the recently completed Shoreline Villas community in Fort Walton Beach.
- ◦Development
