
Housing Trust Group (HTG) has closed on financing and broken ground on a $21.9 million affordable housing community in Clay County, Florida.
Located roughly 40 minutes south of Jacksonville, the 96 apartments at Bryce Landing will be home to residents earning at or below 30% and 60% of the area median income, with monthly rents ranging from $314 to $1,039.
“The need for affordable housing in Florida is at an all-time high, and parts of North Florida like Clay County are feeling that need the most,” says Matthew A. Rieger, president and CEO of HTG. “We are honored and proud to address the demand and build Bryce Landing in a region that so desperately needs it. With the help of our committed partners, we look forward to building a quality, safe affordable housing community for the residents of Clay County.”
The four-building garden-style community will offer a mix of one-, two-, and three-bedroom units ranging from 717 square feet to 1,191 square feet. Amenities will include a clubhouse that contains a state-of-the-art fitness center, a media center, a resort-style pool, and cabanas. Additional outdoor amenities will consist of a dog park, a 15,000-square-foot park, a playground, a picnic pavilion, and an observation deck for view of the natural surrounding wetlands.
In addition, residents will also have access to literacy training, financial assistance, and employment assistance on-site.
Funding sources for Bryce Landing include a $16.5 million construction loan and a $6.3 million permanent loan from JPMorgan Chase, and $1.7 million in 9% low-income housing tax credits from Florida Housing Finance Corp. and syndicated by Raymond James Tax Credit Funds.
The project team for Bryce Landing includes general contractor Kellogg & Kimsey, architect Fugleberg Koch, landscape architect Wood and Partners, and engineering firm CHW Consultants.
HTG is an award-winning full-service developer of multifamily residential communities with transactions exceeding $3 billion in commercial, land, and residential developments across Arizona, Florida, Georgia, and Texas. The firm has a diverse portfolio of affordable, workforce housing, and market-rate housing in addition to mixed-use developments.