13 Jun Stability for Seniors in Pine Hills, Florida
Fugleberg Koch artist rendering of Emerald Villas II.
Emerald Villas II broke ground on June 5th, 2019 with Orange County Mayor Jerry Demmings leading the ceremony.
By Jesy Acosta, Marketing + Design
The affordable housing crisis not only affects low-income households, families and their children, but it also affects the senior market. Fugleberg Koch teamed up with Related Urban Development as Architect in the Public-Private Partnership for the community of Emerald Villas II to provide 96 units of new, affordable rental housing for low-income seniors in Pine Hills, Florida.
Phase I, formerly a foreclosed property, Seville Place, now an affordable project that went through meticulous planning and development by various entities, provides housing for low-income families. Phase II of Emerald Villas, targets the Senior population where 10 units will serve residents earning 40% of the area median income and the remaining will be for residents earning 60% of the AMI or lower.
The four programs used to finance the project included; MMRB – a tax-exempt multifamily mortgage revenue bond, SAIL – a state apartment incentive loan program, ELI – extremely low-income loan and non-competitive housing credits.
The groundbreaking ceremony held on June 5th, 2019 was celebrated by the community as a major stride towards revitalization that positively impacts the lives of many. Orange County Mayor Jerry Demmings, who earlier this year launched the Housing for All Task Force, spoke at the ceremony.
Fugleberg Koch has maintained steady involvement in the affordable housing sector through planning and design efforts for developers that are helping promote greater diversity of housing options for communities nationwide.
Share this page