First Housing Development Corporation of Florida

Owner:

Dumbar Improvement Association, Inc.

Architect:

Moore & Spence Architects, P.A.

General Contractor:

Tobler / O-A-K Joint Venture, LLC

Scope Of Work

First Housing Development Corporation of Florida completed the Credit Underwriting for Florida Housing Finance Corporation for the rehabilitation construction and permanent financing of Palm City Gardens  Apartments, a 100 unit development located in Fort Myers Florida.

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

Financing includes a Florida Community Loan Fund of $4,270,000 through PJ Morgan Chase, a Florida Housing Elderly Housing Community Loan of $1,500,000 and a $75,000 City of Fort Myers Match Funds Grant.

Palm City Gardens Apartments contains 25 Studio and 75 one bedroom/one bathroom units in 13 residential buildings.  The project is 100% age and income restricted at or below 50% AMI  and is receiving Project-Based Voucher Assistance.  

The Development is proposing to use the EHCL for replacement of the roofs, gutters, and soffit/fascia; installation of smoke detectors, removal and replacement of the trellis, duct cleaning and replacement of 52 HVAC systems, pest control, demolition and replacement of existing dumpsters, sidewalks and ramps.

The project is estimated to be complete around October 2019.

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