Construction has concluded on an affordable housing development for seniors in Fort Lauderdale. Mount Hermon Apartments comprises 104 units, ranging from one-bedroom to two-bedroom layout plans. Residency is reserved for seniors 62 and older who earn at or below 25 percent of the area median income (AMI) and 60 percent of the AMI. According to ConnectCRE, under current market conditions, rent ranges from $433 to $1,422 a month.
Mount Hermon Apartments measures seven stories above grade; communal amenities include a fitness center, rooftop terrace and walking path, and a second-story community gathering area. The project cost more than $40 million to build, with financing coming from Raymond James, TD Bank, and Berkadia and Freddie Mac. The City of Fort Lauderdale also granted a $650,000 construction loan to help make the project possible.
The venture measures seven stories. Image from the venture’s website
HTG Gomez Construction was the general contractor. REP-R-TWAR was the architect, Thomas Engineering was the civil engineer, and B. Pila Design Studio operated as the interior design firm. As noted, Housing Trust Group is the developer. It partnered with Mount Hermon African Methodist Episcopal Church Inc. to help deliver much-needed affordable housing to seniors in the area.
The community is located at 750 NW 4th Street, Fort Lauderdale, Florida, 33311, in Broward County.
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