TITUSVILLE, Fla. — Housing Trust Group (HTG) has secured financing and began construction on Forest Glen, an. 80-unit, $28 million affordable seniors housing community in Titusville. The project is HTG’s second in Titusville and third development built in partnership with HFH Supportive Housing, a nonprofit dedicated to providing affordable housing and support services in Brevard County. Forest Glen will have 72 one-bedroom units and eight two-bedroom units with rents ranging from $750 to $1,350 per month for income qualifying residents who earn at or below 40 percent and 60 percent of the area’s median income. Funding for the project includes $23.6 million in Low-Income Housing Tax Credits (LIHTC) provided by the Florida Housing Finance Corp. and syndicated through Raymond James, as well as $22 million in construction financing from TD Bank and a $6.8 million permanent loan from Grandbridge Real Estate Capital. The construction timeline and opening date were not disclosed.
HTG has broken ground on an 80-unit community in the greater Orlando metro area that will serve seniors earning no more than 60 percent of local area median income.
Housing Trust Group, HFH Supportive Housing Plan 80-Unit Affordable Seniors Community in Titusville, Florida
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