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Housing Trust Group (HTG) has secured financing and commenced construction on Villa Jordana, a $64 million affordable senior housing community in Hollywood, Florida. The project represents a new addition to the region’s age-restricted housing stock and is intended to expand rental options for older residents facing cost pressures in the local market.
Villa Jordana is located at 826 S Dixie Highway and is designed as a 96-unit community reserved for residents age 62 and older. The development targets low-income seniors earning between 33% and 60% of the area median income, aligning its unit mix and rent levels with affordable housing program requirements. The property is scheduled for completion in 2027, adding new supply to the local senior housing pipeline.
Rents at Villa Jordana are projected to range from $713 to $1,555 per month for income-qualified residents. These levels compare to an average rent of $2,179 per month in the City of Hollywood, underscoring the affordability gap the project is intended to address. By restricting eligibility to seniors within a defined income band, the community is positioned to serve tenants who might otherwise be priced out of conventional market-rate options.
The capital stack for Villa Jordana is anchored by Low-Income Housing Tax Credit (LIHTC) equity. The project is receiving $33.8 million in LIHTC equity allocated by the Florida Housing Finance Corporation, with Raymond James syndicating the credits to investors. This equity forms a core component of the financing structure and supports the delivery of below-market rents.
Debt financing includes both construction and permanent loan components. Capital One is providing a $32 million construction loan and a $10.2 million permanent loan for the project, executed through Freddie Mac. In addition to the LIHTC equity and agency-backed financing, the City of Hollywood is supporting the development with a $640,000 loan, contributing a layer of local public-sector participation to the capital structure.
HTG has assembled a project team to deliver Villa Jordana, naming Ballast Construction as general contractor and Realization Architects as architect. Together with the financing partners and public agencies involved, these firms are advancing a senior-focused, income-restricted community that is planned to open later this decade.
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