The Landings at Sea Forest (Pasco County. Florida) a 200-unit apartment complex, owned by a limited partnership of which AHI is the general partner. Funding was achieved with tax credits, multifamily bonds, SAIL loan, and local government contributions. The project is 100% occupied as of December 2016. The property has had no major issues since its development and is well positioned for on-going success. A recent refinancing has replaced the original first mortgage and bond debt with a conventional Fannie Mae loan and restructured the SAIL funding for long term amortization, ensuring the community’s continued viability.
Praxis at Deerfield (Broward County, Florida) is a 224 unit development in Deerfield Beach. It was recently acquired in a new partnership with AHI as the General Partner. Originally financed with tax exempt bonds and tax credits, it was acquired with a conventional Fannie Mae loan to create a structure to ensure long term viability and affordability. No significant rehabilitation was required at acquisition. It is a welcome addition to the AHI portfolio.
Banyan Grove (Monroe County, Florida) is a 48 unit development on Stock Island (Key West) in the Florida Keys. AHI co-developed this community in 2013 with an award of 9% tax credits from the Florida Housing Finance Corporation. The development is home to families in the 50% and 60% AMI categories. The Florida Keys are an expensive housing market and we are proud to offer an affordable alternative for the region’s work force.
Cabana Club (Dade County, Florida) is a 320 unit affordable housing development serving seniors in low and very low income categories. Recently acquired with tax exempt bond financing with 4% tax credits. Rehabilitation efforts have included upgrades to units an the property as a whole. The development is an exciting acquisition for the AHI portfolio as we look to increase the affordable housing options for seniors and families.
Caroline Arms (Duval County, Florida) is a 204 unit family development in Jacksonville, Florida. Recently acquired in 2018, Caroline Arms is in the process of undergoing a rehabilitation effort to preserve affordable housing in the Jacksonville/Duval County market. Upon completion, the community will serve families and individuals in the 50% and 60% AMI income levels. We look forward to construction completion and offer the improved product to the market place.
(Caroline Arms website coming soon)
Westview Gardens (Miami-Dade County, Florida) is a 160 unit community serving seniors in Miami’s Northern sub-market. Rehabilitation is underway and significant improvements to the residential units. Amenities such as a pool, fitness center and upgraded apartments will make Westview Gardens an attractive choice for seniors looking for affordable living. AHI is excited about this recent addition to our portfolio.
Lexington Club Apartments (Clearwater, Florida) is a 240 unit community serving seniors in beautiful Clearwater. The residents have access to amenities such as a pool, fitness center, a clubhouse and laundry facilities. Residences are equipped for senior lifestyle with grab bars, wheelchair access and other elements. The gated community is pet friendly and convenient to nearby shopping. AHI is proud to have Lexington Club Apartments in our portfolio.
Heritage Park Apartments (Charlotte, North Carolina)
is a 151 unit community in Charlotte, NC.
A significant rehabilitation effort is currently underway with improvements to the grounds and residences planned. Serving families with incomes from 30% AMI to 60% AMI, Heritage Park looks to become the premiere affordable housing community in the South East Charlotte sub-market. With close proximity to the central business district (locally known as “Uptown”) the location offers residents easy access to job, education and entertainment.