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Florida & Gulf Coast  + Senior Housing  |  July 7, 2020
David Cohen
By: David Cohen

HTG Breaks Ground on $19M Affordable Senior Housing Project in Ocala

Affordable housing developer Housing Trust Group has broken ground on Oak Valley, a $19 million affordable housing community for seniors in Ocala.

The garden-style community will consist of 96 one- and two-bedroom units for residents 62 and older who earn 40% and 60% of the local area median income. Rents will range from $412 to $742 for qualifying residents. Amenities will include a gathering and catering area, fitness center, a theater room, pool and a sports court. The community is located at 805 NE 28th St.

Oak Valley is a partnership between HTG and non-profit AM Affordable Housing Inc., an organization founded by NBA Hall of Famer Alonzo Mourning. Funding sources for the project included a $14 million construction loan and a $3.4 million permanent loan from U.S. Bancorp Community Development Corp.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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