Housing Trust Group (HTG) has completed Bryce Landing, a new $21.9 million affordable housing community in Clay County, Florida – roughly 40 minutes south of Jacksonville. Apartments at Bryce Landing are reserved for income-qualifying residents who earn at or below 30 and 60 percent of the area median income (AMI), with rents ranging from $380 to $1,233 monthly. The property is currently 100% percent leased. This is HTG’s fourth affordable apartment community in Florida to open this year – and marks its first development in the Jacksonville area.
Located at 1914 Bryce Landing Way, the four-building, garden-style community offers a mix of one-, two- and three-bedroom units ranging from 717 to 1,191 square feet. The community’s amenities include a clubhouse with a state-of-the-art fitness center, media center, resort-style pool, and cabanas. Additional outdoor amenities consist of a dog park, a 15,000-square-foot park, a playground, a picnic pavilion, and an observation deck for a view of the natural surrounding wetlands. Residents can also access on-site literacy training, financial assistance, and employment assistance services.
“Parts of North Florida, like Clay County, are in the most need of affordable housing, and we look forward to fulfilling that need and ensuring residents are equipped with quality housing, useful services and top-notch amenities,” said Matthew A. Rieger, President and CEO of HTG. “We are proud to address this demand and serve the needs of Clay County residents who seek safe and exceptional housing on a limited budget.”
“It’s exciting to see what a positive impact Bryce Landing will have by building affordable housing for the community,” said Tammy Haylock-Moore, Managing Director of Community Development Banking for Chase. “This grand opening comes at a time when housing continues to be in great need and will be an instrumental part in helping solve this crisis while providing onsite services and amenities to all residents, ensuring they have the resources they need to prosper.”
Funding sources for Bryce Landing included a $16.5 million construction loan, a $6.3 million permanent loan provided by JPMorgan Chase, and $1.7 million in annual 9% Low-Income Housing Tax Credits provided by Florida Housing Finance Corporation syndicated through Raymond James Tax Credit Funds.