7-story, 104-unit building with one- and two-bedroom apartments. Ninety percent of units are reserved for seniors earning at or below 60% of the AMI, with ten percent of units reserved for seniors at 25% of the AMI.
Project Size: 50+ Units
Completed: 2025
Cost: $43500000
Location: Ft. Lauderdale, FL
Affordable Housing and Shelter on Faith Land Database
Mount Hermon Apartments
Project & Congregation Details
Congregation Information
House of Worship: Mount Hermon AME Church
Denomination: AME
Leadership: Rev. Henry Green
Location Information
State: FL
City: Ft. Lauderdale
Geography: Urban
Neighborhood: Dorsey-Riverbend
Project Information
Approval: 2023
Completed: 2025
Cost: $43500000
Developer: Housing Trust Group
Architect: REP-R-TWAR
Land: Leased
Housing Type: Affordable Rental
Funding
Local
$650,000 loan from the City of Fort Lauderdale
Federal
Low-Income Housing Tax Credits (9%) with $32.6 million in equity from syndicator Raymond James;
$7.5 million permanent Freddie Mac loan through Berkadia
Other
$33 million construction loan from TD Bank;