Alonzo Mourning Secures $47M for Affordable Senior Housing in Hollywood
The NBA Hall of Famer's nonprofit and Coconut Grove-based Housing Trust Group have closed financing on Villa Jordana, a 96-unit project for seniors 62 and older. Monthly rents will range from $713 to $1,555, well below Hollywood's average of $2,179.
Key Takeaways
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Villa Jordana is a 96-unit affordable senior housing project at 826 South Dixie Highway in Hollywood, with completion expected next year.
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The $47 million financing package includes $33.8 million in tax credit equity from Raymond James, construction and permanent loans from Capital One through Freddie Mac, and a $640,000 loan from the city of Hollywood.
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Units are restricted to renters 62 and older earning between 33% and 60% of the area median income, with monthly…
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