Future Renovation to be NamedVillage at the Park
Auburn Trace, Ltd.
Florida Affordable Housing Inc. (FAHI), now developing new properties as Auburn Development, LLC
Site: Number of Units:
256 multi-family rentals plus a 7,500 sq. ft. child care center on 37 acres (7 units per acre)
Florida Affordable Housing Inc. (FAHI) developed this 256-unit, affordable housing development for low- to moderate-income households in Delray Beach, Fla. FAHI arranged all financing for this development, including a $1,765,000 State Apartment Incentive Loan (SAIL) from the Florida Housing Finance Agency; $5,840,000 Urban Development Action Grant from the United States Department of Housing and Urban Development (HUD); $200,000 grant from the City of Delray Beach; and a $1,488,000 loan from the City of Delray Beach at zero percent interest for 15 years.
777 East Atlantic Ave., Suite 200
Delray Beach, FL 33483
Award winning development
Auburn Trace won the National Builders Association Award as the “Best Affordable Multifamily Project” in the Pillars of the Industry Awards national competition.