McDowell Housing Partners has closed financing and started construction on Clara Landings – an Ekos Community, an 84-unit affordable housing development at 4470 Santa Barbara Boulevard in Naples, Florida. The $35.9 million project is being developed for families in Collier County, with Fugleberg Koch serving as architect of record and DeAngelis Diamond as general contractor.
The development will consist of a four-story, elevator-served building containing 60 one-bedroom, one-bath apartments averaging 730 square feet and 24 two-bedroom, two-bath apartments averaging 972 square feet.
The residences will be income-restricted across three Area Median Income tiers for the Naples metropolitan area. Thirteen apartments will be reserved for households earning 30 percent of AMI, 32 units will be restricted to 60 percent of AMI, and 39 units will be designated for households earning 70 percent of AMI.
“Collier County urgently needs more high-quality, affordable homes for working families,” said W. Patrick McDowell, Chairman and CEO of McDowell Housing Partners. “Clara Landings reflects our commitment to meeting that need and expanding housing opportunities for the people who help this community thrive.”
Apartment interiors will incorporate ENERGY STAR-certified appliances, low-flow plumbing fixtures, SEER 15 HVAC systems, and LED lighting. The building is designed to achieve Bronze certification under the ICC 700 National Green Building Standard.
Amenities will include a leasing office, community clubroom, covered outdoor terrace, and tot lot.
Financing includes tax-exempt bonds issued by Florida Housing Finance Corporation, 4 percent Low-Income Housing Tax Credits, and $10 million in CDBG-DR subordinate financing awarded by Florida Housing for areas impacted by Hurricane Ian. First Horizon Community Investment Group provided tax credit equity, while R4 Capital is serving as the construction and permanent lender.
The project team also includes Kimley-Horn Engineering as civil engineer. Completion of Clara Landings is expected in spring 2028.
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Wow, ugly.