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Auburn Trace

Auburn Trace

Future Renovation to be NamedVillage at the Park

Owner: Developer:

Auburn Trace, Ltd.

Florida Affordable Housing Inc. (FAHI), now developing new properties as Auburn Development, LLC

Site: Number of Units:

37 acres

256 multi-family rentals plus a 7,500 sq. ft. child care center on 37 acres (7 units per acre)

Completio

n:

1990

Approximate Cost:

$16,000,000

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.

p: 561.278.3901

f: 561.278.3903

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.

www.AuburnCommunities.com

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