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HTG Launches $47M Affordable Senior Housing Project in Hollywood, FL
Housing Trust Group (HTG) secured financing and broke ground on Villa Jordana, a new $47 million affordable senior community in Hollywood, Florida.
Located at 826 S Dixie Highway, the 96-unit development will provide rental housing to residents age 62 and older. Villa Jordana will serve low-income seniors earning between 33% and 60% of the area median income, with rents for qualifying residents ranging from $713 to $1,555 per month – well below the average City of Hollywood rent of $2,179. The property is slated for completion in 2027.
Villa Jordana is financed with $33.8 million in Low-Income Housing Tax Credit equity allocated by the Florida Housing Finance Corporation, and syndicated by Raymond James; a $32 million construction loan and a $10.2 million permanent loan from Capital One through Freddie Mac; along with a $640,000 loan from the City of Hollywood.
The design and construction team for Villa Jordana includes general contractor Ballast Construction and architect Realization Architects.
- ◦Development
