PEMBROKE PARK, FLA. — McDowell Housing Partners has announced the commencement of construction of Ekos at Pembroke Park, a new affordable seniors housing development located in Pembroke Park. Upon completion, the $64.7 million project will total 150 units reserved for seniors earning up to 80 percent of the area median income.
This marks the 16th affordable housing project in Florida for McDowell. Amenities at the community will include a clubroom, fitness center, package lockers, bike storage and six electric vehicle charging stations. Nonprofit organization Area Agency on Aging of Broward County will lease a commercial space at the property and offer onsite supportive services to residents age 60 and older.
Financing for the development includes tax-exempt bonds and a loan from the Housing Finance Authority of Broward County; a loan from the Florida Housing Finance Corp.; LIHTC equity from U.S. Bank; and senior construction and permanent loans from R4 Capital.