University Station Hollywood
Update
06/14/23
Housing Trust Group Breaks Ground on University Station in Hollywood, FL
Housing Trust Group has closed on financing for University Station with construction kicking off this month. The project, located on 2.5 acres of city-owned land will include 216 affordable apartments, 2,000 square feet of retail space, and 12,210 square feet of educational space. Amenities will include a fitness center, multipurpose room, and a swimming pool.
Funding sources for University Station include $39.9 million in FHFC 9% Low-Income Housing Tax Credit (LIHTC) equity syndicated through Raymond James, a permanent loan of $17.75 million provided by Bank of America, a $10.6 million State Apartment Incentive Loan (SAIL), a $1.5 million National Housing Trust Fund (NHTF) loan and a $600,000 Extremely Low Income (ELI) loan. Additionally, the property received $8.4 million in parking funds, a $6 million Broward Loan, a $2.4 million City Loan, and $100,000 in State Housing Initiatives Partnership (SHIP) funding from Broward County.
