Setting Standards
Affordable-housing apartment complex celebrates its opening
From Newberry Road in Jonesville, Brookside Apartments looks like the newest luxury apartment complex in west Gainesville.
But the 176-unit complex, complete with a pool, fitness room and after-school day care, will cater to residents who do not make more than 60 percent of the area's median income. For a family of four, that's about $30,000 a year.
During a ceremonial ribbon-cutting Wednesday, local officials and the developers hailed the community as an example of what they hope will become the new standard for affordable housing in the state of Florida.
"We've really tried to raise the bar here for affordable housing," said Scott Culp, executive vice president of the CED Construction Companies of Maitland, which built Brookside and another affordable complex called Harbor Cove off Tower Road.
The $13.5 million Brookside project was made possible in part by $7.7 million in tax-exempt bonds issued by the Alachua County Housing Finance Authority.
The county has no financial obligation to repay the debt, but the partnership gives the developer access to lower-than-market interest rates.
County Commissioner Cynthia Chestnut said there is definite need for affordable housing in the county.
"This is a benefit to the community in that we're providing entry level housing," she said.
Rent at the apartments, which include marble bathrooms, decorator mini-blinds, walk-in closets, ceiling fans and dishwashers, are $538 for one bedroom. Two-bedroom apartments rent for $636; three bedrooms run $734 and four bedrooms cost $813. Washer and dryer hook-ups are available.
The cost runs about $100 less than other similar living facilities on the west side of town, officials said.
This is the third apartment development in the county to be built with tax-exempt, multifamily revenue bonds issued by the finance authority.
CED Companies also built the 208-unit Harbor Cove complex last year, complete with similar amenities as those at Brookside.
Lewis Place near the Ironwood Golf Course, which was completed two years ago, was the first development to be built with county-issued revenue bonds.