First Housing Development Corporation of Florida

Owner:

Blue CASL, Inc.

Architect:

Forum Architecture & Interior Design

General Contractor:

NDC Construction Company

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 Arbor Village, an 80-unit development to be located in Sarasota Florida.

First Housing is the construction draw administrator and Section 3 monitoring agent for Florida Housing Finance Corporation and will conduct permanent loan servicing and be their compliance monitoring agent at completion.  Construction to Permanent Financing includes Florida Housing State Apartment Incentive Loan of $3,500,000, a Florida Housing New Housing Trust Fund Loan of $1,386,572, and an award of Housing Tax Credits.  

Arbor Village will contain 72 one bedroom and 8 two bedroom units within 1 Mid-Rise Residential buildings on 4.2.  The project will be 100% income restricted at or below 60% AMI at completion.  Standard Unit Amenities will include energy star rated appliances, central heat and air conditioning, a community building. The building will include space for 1 on 1 meetings with case managers as well as a training room for group activities and educational programs. clubhouse.  Resident Programs will include Case Management Program, an Employment Assistance Program and a Financial Management Program all at no cost to the residents. 

The project is estimated to be complete around December 2019.

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