First Housing Development Corporation of Florida

Owner:

Landings Port Richey Senior Housing Limited Partnership

Architect:

Alliance Architects

General Contractor:

Ruscilli Construction Co., Inc.

Client:

Landings Port Richey Senior Housing Limited Partnership

Scope Of Work

First Housing Development Corporation ("FHDC") completed the Credit Underwriting for Landings of St. Andrew Apartments.  Funded with a new first mortgage construction to permanent loan through Bank of America, a new SAIL Program second mortgage from Florida Housing Finance Corporation and a new award of Housing Credits, this 196 unit Multi-Family project located in New Port Richey Florida will be undergoing significant rehab.  Originally Built in 1995 with a combination of private, Florida Housing SAIL program funds and housing credits, the existing Development must currently comply with the Federal Fair Housing Act requirement to rent at least 80 percent of its total units to residents that qualify as older persons pursuant to the Act..  

Rehabilitation included major repairs to roofs, interior and exterior finishes, as well as major refurbishing of kitchens, bathrooms, hallways, and entrances. The plumbing, mechanical and electrical fixtures were replaced as needed and most exterior and interior building finishes, casework, doors, windows, fixtures and trim were repaired or replaced.  

First Housing was the Construction Administrator for this project and is completing permanent loan servicing and compliance monitoring of the project.  Since there were Housing Credits awarded, the project is income restricted and remains 100% set-aside for the Elderly.

For more information on First Housings Services please contact us at loanadmin@firsthousingfl.com.