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March 2022

McDowell Housing Partners’ broke ground on The Harmony on Santa Barbara and Allegro at Hacienda Lakes, Naples, Florida

McDowell Housing Partners’ broke ground on The Harmony on Santa Barbara, Naples, Florida

Community members, partners, and government leaders gathered on March 10th to commemorate the construction commencement of three new construction, true affordable, housing developments comprised of 402 total units. These are the first housing tax credit developments in Collier County since 2005.

McDowell Housing Partners’ broke ground on The Harmony on Santa Barbara, an 82-unit affordable housing development with a mix of one, two, and three-bedroom units targeted toward working class families is located at 4660 Santa Barbara Boulevard, Naples, FL.

In late 2019 McDowell was competitively selected amongst 10 respondents to develop the 3.78-acre county owned land. McDowell entered a 99-year land lease with the County where they committed to develop the property for families earning at or under 80% of the County’s area median income (2021 $47,280-54,000). McDowell quickly secured competitive gap financing and housing tax credits from Florida Housing Finance Corporation that are essential to sufficiently source $25.4M development with rent and income restrictions. The Harmony is designed to Class A market-rate standards with large well-appointed units and loads of amenities including: a standalone clubhouse with multipurpose community rooms, fully equipped fitness center, business center, and veranda overlooking the pool and hardscaped deck with covered outdoor BBQs and playgrounds. The Harmony on Santa Barbara is a perfect example of what public/private partnerships can do to provide high quality affordable housing options for Collier County. The first units are anticipated to be available for occupancy by February of 2023.

In late 2019 McDowell was competitively selected amongst 10 respondents to develop the 3.78-acre county owned land. McDowell entered a 99-year land lease with the County where they committed to develop the property for families earning at or under 80% of the County’s area median income (2021 $47,280-54,000). McDowell quickly secured competitive gap financing and housing tax credits from Florida Housing Finance Corporation that are essential to sufficiently source $25.4M development with rent and income restrictions. The Harmony is designed to Class A market-rate standards with large well-appointed units and loads of amenities including: a standalone clubhouse with multipurpose community rooms, fully equipped fitness center, business center, and veranda overlooking the pool and hardscaped deck with covered outdoor BBQs and playgrounds. The Harmony on Santa Barbara is a perfect example of what public/private partnerships can do to provide high quality affordable housing options for Collier County. The first units are anticipated to be available for occupancy by February of 2023.

McDowell has also broken ground on the first phase of 320-unit multiphase senior affordable housing developments. The developments, respectively known as Allegro at Hacienda Lakes and Cadenza at Hacienda Lakes will each provide 160 apartments for seniors ages 62+ earning 60% of the area median income or less. The development is located at 8455 Rattlesnake Hammock Rd., on the east side of Collier County conveniently behind Physicians Regional Medical Center – a growing area with numerous health and wellness services that are well-suited to serve the senior population. Allegro and Cadenza will provide a mix studio, one- and two-bedroom units along with a standalone clubhouse, resort-style pool, bocci and pickleball court, dog park, covered BBQ areas, and community gardens. McDowell is developing the community in partnership with the Collier County Community Land Trust. Completion of Allegro is slated for late summer of 2023 and Cadenza in the first quarter of 2024.

About McDowell Housing Partners:

McDowell Housing Partners (MHP) is the affordable development arm of McDowell Properties, a national workforce housing investment company that has acquired over 40,000 units across 13 states.

MHP is one of the fastest growing affordable housing developers in the country, with offices in Miami, FL and Dallas, TX. MHP started construction on 615 new affordable units, within 5 individual developments, in 2021 with another 8 fully funded projects in the development pipeline scheduled to close in 2022. over 1,200 moving toward closing in 2022.

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