ORANGE COUNTY, Fla. – Nearly 100 new units at the Preserve at Emerald Villas in Pine Hills will now be the home to dozens of seniors in Orange County.
The $19 million project was designed to help seniors who earn from 40% to 60% of the area median income.
“This is an opportunity for us to have a public, private partnership to address the deficit of affordable housing here in our community,” Orange County Mayor Jerry Demings said.
The property was bought back in 2011 and was in deep foreclosure then became the second phase of development at Emerald Villas affordable housing.
Construction started last year on the 96-unit build.
“When it’s clean, when it’s safe, when it’s affordable it gives the I think the indication that we all care about this community and we certainly care about our seniors,” Demings said.
Orange County Government gave $3.2 million in Federal Neighborhood Stabilization Program funds to the project as part of the recommendations for Mayor Demings' Housing for All Task Force, according to the press release.
The complex was built in partnership with the Orlando Neighborhood Improvement Corporation and Related Urban Development.
“We delivered the building in June and we are already 60% occupied and 80% pre-leased,” Tony Del Pozzo, VP of Related Group said.
Pozzo said less than 20 units are still available for seniors at the Preserve at Emerald Villas.