Encore at 331 is a new residential community planned for Freeport, Florida. The venture will offer 258 units spread across four buildings, per LDI Line. It will rest on a 15.58-acre build site and require more than 270,000 square feet of new construction to reach completion.
NWF Daily News notes that 20 percent of the apartments at Encore at 331 will be affordable housing units. That’s about 50 units. Those homes could cost $842 to $2,021 a month––although this price could rise or fall with time.
An aerial view of the proposed build site, per Google Earth.
Rentcafé notes that for a 1,009-square-foot apartment in Freeport, one can expect to pay around $2,127 a month. Sources report that the development could cost $97 million to complete. Those same sources note that construction could start in the spring of next year.
At the time of publication, Encore at 331 was in its infancy and still seeking site plan approvals from Walton County city officials. Renderings from Google Earth suggest that before construction begins, developers may demolish an already-existing structure. Graycliff Capital is the developer. McNeil Carroll Engineering & Surveying is the civil engineer.
Encore at 331’s address is 34 Ramsey Branch Road, Freeport, Florida, 32439, in Walton County. The community is east of the LaGrange Bayou.
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Would like to apply for low cost housing
Is this a Tax Credit property with age restrictions?