NARANJA, FLA. — Housing Trust Group (HTG) and AM Affordable Housing have secured financing to begin construction of the first phase of Artisan Pointe, an affordable housing community in Naranja, 34 miles south of Miami. Located at 26115 S. Dixie Highway, Artisan Pointe will include 115 units in the first phase. Rents for the one- and two-bedroom units are restricted to 30, 60 and 70 percent of area median income (AMI). Monthly rents for qualifying residents will range from $766 for a one-bedroom apartment at the 30 percent AMI tier to $2,145 for a two-bedroom apartment at the 70 percent AMI tier.
The development’s financing includes $31.5 million in Low-Income Housing Tax Credit (LIHTC) equity allocated by the Florida Housing Finance Corp. and syndicated by U.S. Bancorp; a $39 million construction loan from U.S. Bancorp; a $16.9 million permanent loan arranged through Berkadia; and $7 million in support from the Naranja Lakes Community Redevelopment Agency, including a $3.5 million loan and $3.5 million in tax increment financing (TIF) reimbursements.
Artisan Pointe represents the first phase of a larger master-planned affordable housing community. The second phase is anticipated to add approximately 160 additional affordable apartments. The development team includes Ferncore Construction as general contractor, Palenzuela & Hevia Design Group as architect, SRS Engineering as civil engineer and XS Interior x Architecture as interior designer. The development team broke ground in in June with completion slated for January 2028.