PEMBROKE PINES, Fla. — Housing Trust Group (HTG) and Miami Jewish Health Systems (MJHS) have opened the doors on Douglas Gardens V, an affordable seniors housing community in the Miami suburb of Pembroke Pines.
Development costs for the 110-unit community were estimated at $36 million. The four-acre complex is situated within the 25-acre Douglas Gardens North community, operated by Miami Jewish Health.
Residents must be over the age of 62 and earn below 60 percent of the area median income. Rents range from $405 to $953 a month.
Partners on the project include US Bank, Barings, the City of Pembroke Pines, Broward County and Florida Housing Finance Corp.
Broward County is among one of the most expensive rental markets in the United States. A 2019 Rental Market Study conducted by the Shimberg Center for Housing Studies reported that nearly a third of Broward County renter households are cost-burdened, spending more than 40 percent of their monthly income on rent.
This is HTG’s third new senior housing community in Broward County. The firm recently completed Arbor View, a 100-unit affordable seniors housing development in Margate, and developed Village Place, a 112-unit affordable seniors housing community in downtown Fort Lauderdale.