First Housing Development Corporation of Florida

Owner:

Gainesville Housing Development and Management Corporation

Scope Of Work

First Housing Development Corporation of Florida completed the Credit Underwriting for Florida Housing Finance Corporation for the rehab and permanent financing of Oak Park Apartment, a 101 unit development to be located in Gainesville Florida.

First Housing is the construction administrator for Florida Housing Finance Corporation as well as permanent loan servicing and compliance monitoring.  

Financing includes Florida Housing Elderly Housing Community Loan of $630,000 and $47,692 from the owner/developer, Gainesville Housing Authority.

Oak Park contains 60 studio and 41 one bedroom units within 1 Mid-Rise Residential building, with an elevator, on 1.4 acres.  The project is 100% income and age restricted.  

Rehab will include a new roof, installation of a new generator and installation of a security system. 

The ground floor features offices, library, computer lab, exercise room, community room with kitchen, laundry facility and mechanical/electrical rooms.  Storage closets, areas of refuge, trash chute rooms and public restrooms are on the 2nd floor.  

Standard Unit Amenities will include energy star rated appliances, central heat and air conditioning, a clubhouse.  The ground floor features offices, library, computer lab, exercise room, community room with kitchen, laundry facility and mechanical/electrical rooms. Resident Programs will include Literacy Training, an Employment Assistance Program and a Financial Management Program.   

The project is estimated to be complete around late November 2018.
For more information on First Housings’ Services contact us at loanadmin@firsthousingfl.com.