- New Construction
- Public Housing/RAD
- Sanford, FL
- 90 Units
- Includes indoor/outdoor seating areas, covered picnic area, multipurpose room, fitness room, library, walking path, community garden
- Completed October 2020
- Slocum Platts Architects
Georgetown Square is a 90-unit affordable senior community developed in partnership with the Sanford Housing Authority and Gardner Capital on the site of the former Redding Gardens public housing development. The development consists of 65 one-bedroom units and 25 two-bedroom units in an energy-efficient, four-story elevator building. Of these apartments, 28 are project-based Section 8 units, and the remainder are reserved for residents earning 60% AMI.
The 3.2-acre site is surrounded by a neighborhood of modest single-family homes, and is located less than half a mile from Sanford’s attractive downtown shopping and dining district. It is in close proximity to shopping, medical services, and senior services and within easy walking distance of Fort Mellon Park on the Lake Monroe waterfront, which is home to the Sanford Senior Center, Sanford Museum, and a variety of recreational activities.
Project amenities include indoor and outdoor seating areas, a covered picnic area with a grill and covered patio. A multipurpose room with kitchen accommodates community events and activities. The property also includes a fitness room, library, and laundry room. The attractively landscaped grounds include a walking path and community garden area.
The project received a 9% Low Income Housing Tax Credit allocation from Florida Housing Finance Corporation (FHFC). Stratford Capital is the tax credit syndicator, and TD Bank is the tax credit equity investor and construction lender. Permanent financing is from a Freddie Mac loan from Newmark Knight Frank and a subordinate loan from FHFC.