First Housing Development Corporation of Florida

Owner:

Royal Palm Place, Ltd

Architect:

Corwil Architects, Inc.

General Contractor:

Lynx Construction Management, LLC

Client:

Royal Palm Place, Ltd

Scope Of Work

First Housing Development Corporation of Florida completed the Credit Underwriting for the Florida Housing Finance Corporation for the construction and permanent financing of River Palm Place Apartments, a 125 unit development to be located in West Palm Beach Florida.
First Housing is the construction administrator for the Florida Housing Finance Corporation and will conduct permanent loan servicing and be their compliance agent at completion.  
Royal Palm Place will contain 75 1 bedroom and 50 2 bedroom units within 4 residential buildings on 5.6 acres.  The project will receive Section 8 Project Based Rental Assistance from the West Palm Beach Housing Authority on all 125 units with a restriction that at least 1 member of each household include a tenant who is 62 years of age or older.  Due to these items, the project will be 100% income and age restricted.  Additionally, at least 13 of the units will be set aside for Persons with a Disabling Condition.
Common amenities will include 4 elevators, a club room for resident activities and an outdoor seating area.  Unit amenities will include Energy star rated refrigerators, dishwashers and laundry, low flow faucets, toilets, showerheads and programmable thermostats with humidistat in each unit.   Resident Programs will include an After School Program for Children, Literacy Training, and an Employment Assistance Program.

The project is estimated to be complete around late April 2019 at which time First Housing will handle both the permanent loan servicing for Florida Housing and be the Compliance Monitoring Agent for Florida Housing.

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