First Housing Development Corporation of Florida

Owner:

Phoenix Apartments Venture, LP

Architect:

Blumentals Architecture, Inc.

General Contractor:

United Renovations Speciality Group, LLC

Client:

Phoenix Apartments Venture, LP

Scope Of Work

First Housing Development Corporation completed the Credit Underwriting and Construction Draw Administration for the Florida Housing Finance Corporation related to the acquisition and rehabilitation of the Phoenix Apartments located in Homestead Florida.  The development also utilized Housing Credits in conjunction with the tax-exempt bond financing which carry rent restrictions to potential tenants.

Phoenix Apartments is an existing 164-unit property constructed in 1995. Interior and exterior renovations, which included energy efficiency and water management upgrades, were completed.  Amenities include a Clubhouse, Swimming Pool, and Car Care Area.  Green Building Features included energy star exhaust fans, low-flow water fixtures, daylight sensors, timers or motion detectors on all outdoor lighting and low-VOC paint for all interior walls.   Financial Counseling, at no cost to the residents is being offered.

The Florida Housing Bonds were paid off in full at completion.  First Housing is completing the project compliance monitoring for Florida Housing associated with the attached Housing Credits to the project.

For More information on First Housings Underwriting, Construction Administration or Compliance Services please contact us today.