PENSACOLA, FLA. — McDowell Housing Partners has announced plans for Ekos at Warrington, a $41.9 million affordable housing community in Pensacola. Construction is slated for completion by the third quarter of 2027. The 120 units at Ekos at Warrington will be reserved for tenants earning between 40 and 60 percent of area median income. Fifty percent of the units will be set aside for active-duty military members, veterans and their families. Half of those units, representing 5 percent of the total project, will be reserved for veterans experiencing homelessness. The property is about seven miles north of Naval Air Station Pensacola.
Ekos at Warrington is being financed through a combination of tax-exempt bonds, a state apartment incentive loan and funding set aside for extremely low-income households provided by the Florida Housing Finance Corp. The developer also secured 4 percent Low-Income Housing Tax Credits (LIHTC). CREA served as the tax credit investor, and R4 Capital is the construction and permanent lender.
The project team for Ekos at Warrington includes Park & Eleazer Construction as the general contractor, Slocum Platts Architects as the architect of record and Kim Do as co-developer.