First Housing Development Corporation of Florida
Tampa, FL 33606
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Heights at Gracepoint
Project Information
- Project Location:
- Tampa, FL
- Approx Contract:
- $10,000,000
- Status:
- In-Progress - May 2021
- Structure Type:
- Apartments & Condominiums
References
- Owner:
- Gracepoint Heights, LLC
- Architect:
- Place Architecture, LLC
- General Contractor:
- First Florida Constructors, LLC
Scope Of Work
First Housing Development Corporation of Florida completed the Credit Underwriting for Florida Housing Finance Corporation for the construction and permanent financing of The Heights at Gracepoint, a 64-unit development located in Tampa, Florida.
First Housing is conducting construction administration, permanent loan servicing and be the compliance monitoring agent for the Florida Housing Finance Corporation.
Construction Financing includes a Co-First Mortgage with JP Mortgage Chase and Florida Housing State Apartment Incentive Loan of $8,700,000, a Florida Housing State Apartment Incentive Loan for Extremely Low-Income of $3,243,000 and $135,000 and an award of Housing Tax Credits.
The Heights at Gracepoint will contain 46 One Bedroom and 18 Two Bedroom units within 1 Garden style residential building. The project will be 100% income restricted and will serve the population of adult persons requiring independent living services in order to maintain housing or develop independent living skills and who have a disabling conduction that neither currently impairs nor is likely to impair their physical mobility, such as persons with a mental illness.
The Development will be improved with a three-story, "U" shaped, garden apartment building with two elevators and surface parking. Common amenities will include a clubhouse area with community room, fitness center and library/computer lab, wellness center, outdoor terrace, community garden, bicycle storage and a walking path. For the disabled condition population, there will be a laundry room and a "store" which will be an area for donated items, where the tenants can acquire items they need. Unit amenities will include refrigerators, oven/ranges, dishwashers, garbage disposals, microwaves, ceiling fans, blinds and washer/dryers in the units for the elderly.
The project is estimated to be complete around May 2021.
For more information on First Housings’ Services contact us at loanadmin@firsthousingfl.com.
