BRADENTON, FLA. — Housing Trust Group (HTG) is developing Riverview6, a $34 million affordable housing property in Bradenton, about 45 miles south of Tampa, Florida. The project, which is estimated to open by the middle of next year, will include 80 units reserved for residents earning at or below 70 percent of area median income (AMI). These rent restrictions equate to a range of $486 to $1,571 per month.
Funding sources for Riverview6 include 9 percent Low-Income Housing Tax Credit equity syndicated through Raymond James; a construction loan through Fifth Third Bank; a permanent loan through Grandbridge and Freddie Mac; and loans from Manatee County, Bradenton Community Redevelopment Area and the city of Bradenton.
The project team for Riverview6 includes general contractor Hennessy Construction, civil engineering and landscape firm Thomas Engineering, architect Flux Architects and interior designer Builders Design.
Riverview6 will be developed along one city block at the intersection of Manatee Avenue and 9th Street West. The name is a nod to the property’s proximity to 6th Avenue as well as to Bradenton’s Riverwalk, a waterfront park about four blocks from the property that runs along the Manatee River.
The five-story development will offer a mix of one-, two- and three-bedroom units ranging from 601 square feet to 1,085 square feet. Amenities will include a community clubhouse with a catering kitchenette and dining areas, lounging and gaming areas and a fitness center. The property staff at Riverview6 will provide support services such as an employment assistance program and a financial management program.