First Housing Development Corporation of Florida

Owner:

Merritt Street Housing, LP

General Contractor:

Picerne Construction Corporation

Client:

Merritt Street Housing, LP

Scope Of Work

First Housing Development Corporation of Florida underwrote and originated a Co-First Mortgage with JP Mortgage Chase for the construction of The Pointe at Merritt Street, an income restricted multifamily development to be constructed in Altamonte Springs, Seminole County, Florida.  Additional funding from Seminole County along with Tax Credit Equity were also used to complete the development.   

Completed in May 2017, the development contains 102 units with 6 specifically set-aside for Special Needs Households.  The apartment buildings contain stairs for access to the 2nd and 3rd floors, and the unit mix consists of 36 two bedroom units and 66 three-bedroom units. Unit features include washer/dryer hook-ups, central heat and air, microwave oven, refrigerator, oven/range, dishwasher, garbage disposal, cable and high speed internet hook-ups.  Common area amenities include a leasing office, a clubhouse/community room, activity lawn, business center, and a picnic area/playground.

Resident programs are offered at no cost to the tenants, including an after school program for children, literacy training and an employment assistance program.  Bronze NGBS certification has been awarded.

First Housing has completed final Construction Administration work and is now handling all permanent loan servicing.

For More information on First Housings Affordable Housing Lending Programs or any other services, please contact us at loanadmin@firsthousingfl.com or check out our website at www.firsthousingfl.com.