ConcordRents Breaks Ground on $32M Affordable Seniors Housing Community on Florida’s Space Coast
VIERA, FLA. — ConcordRents has started construction of Venue at Viera Senior Living Apartments, a $32 million, 145-unit affordable seniors housing community in Viera, a master planned community located on Florida’s Space Coast near Melbourne. Units are reserved for seniors making between 40 percent and 80 percent of the area median income (AMI). Funding for Venue at Viera Senior Living comes from $16.8 million in tax-exempt bonds issued by the Brevard County Housing Finance Authority and $11 million in equity from the sale of Federal Housing Tax Credits allocated through Florida Housing Finance Corp. The developer, Atlantic Housing Partners, also provided some funding sources.