Despite the ongoing challenges — including complicated underwriting and a sagging economy — of making affordable housing pencil out, developers across the country have recently started several such projects.
From Florida to Ohio to Washington state, these new developments aim to ease the lack of accessible homes in their respective communities. Some target specific demographic groups, such as older adults and farmworkers.
Read on about four affordable multifamily developments that have just broken ground.
Altaire at Queen Anne
Location: Seattle
Developer: SRM Development
Units: 114
Cost: $71 million
The Urban League of Metropolitan Seattle and SRM Development broke ground Monday on Altaire at Queen Anne, an affordable rental housing development that will offer studio, one-, two- and three-bedroom apartments for households earning between $66,000 and $100,000 per year, Hoodline reported.
The project will transform a long-vacant site into housing for local workers, families and artists in Queen Anne, one of Seattle’s higher-cost neighborhoods. It was realized through a public-private partnership with the Seattle Office of Housing, Amazon’s Housing Fund, the Washington State Housing Finance Commission, Citibank and PNC Bank, according to Spokane, Washington-based SRM.
Move-ins are anticipated in November 2027.
Green Oaks of Canal Winchester
Location: Columbus, Ohio
Developer: Evergreen Real Estate Group
Units: 120
Cost: $42.5 million
Evergreen Real Estate Group has started construction on Green Oaks of Canal Winchester, a four-story affordable assisted living community for older adults in Columbus, Ohio, according to a March 5 press release from the Chicago-headquartered developer. The project is among the first purpose-built affordable assisted living developments to break ground in the state. It will offer 67 studio and 53 one-bedroom apartments for older adults across a range of income levels, including those who qualify for Medicaid.
The project came about through a partnership with Ohio Housing Finance Agency, Ohio Department of Medicaid, Ohio Department of Aging, Ohio Department of Health and other public and private entities. The goal with the development is to enable area seniors to age in a community-based, residential setting at about half the Medicaid cost of nursing home care, according to Evergreen. It’s located near a grocery store, pharmacy, shopping center, urgent care facility, public library and several parks.
Completion is expected in March 2027.
Ekos on Creekside
Location: Naples, Florida
Developer: McDowell Housing Partners
Units: 160
Cost: $64.1 million
McDowell Housing Partners broke ground March 4 on Ekos on Creekside, a seven-story family housing development targeted to households making between 30% and 80% of the area median income. The property will offer one-, two- and three-bedroom apartments with spacious kitchens and washer-dryer hookups, as well as a clubhouse with a pool, a fitness center and other amenities, according to a press release from the Miami-based developer.
The project marks the first development in Collier County to be delivered under Florida’s Live Local Act, a state initiative that aims to increase affordable housing, Gulfshore Business reported. Collier County bought the land for the project with its Workforce Housing Land Acquisition Surtax funds, and the building will be developed under a 99-year ground lease with the county.
Move-ins are projected to begin in Q2 2027.
JFM Villas Senior Apartments and the JFM Villas Family Apartments
Location: Indio, California
Developer: Coachella Valley Housing Coalition
Units: 150
Cost: N/A
The Coachella Valley Housing Coalition started construction March 5 on the JFM Villas Senior Apartments and the JFM Villas Family Apartments, KESQ reported. They’re named after the organization’s late founding executive director, John F. Mealey, who died in January.
The development will include 50 units for seniors and retired farmworkers and 100 apartments for current farmworkers and families, according to KESQ. Designs for the project include community spaces, wellness classes and on-site childcare to support working parents.
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