Property: Douglas Gardens Residences
Developers: Miami Jewish Health, McDowell Housing Partners
Architect: Reprtwar Architecture and Design
Location: Pembroke Pines, Florida
Cost: $137 million
Miami-based developer McDowell Housing Partners and Davie, Florida-based general contractor ANF Group have partnered with Miami-based nonprofit senior care provider Miami Jewish Health to build a new affordable senior housing development on its Douglas Gardens North campus in Pembroke Pines, Florida.
The upcoming Douglas Gardens Residences — the fourth of four low-income senior housing developments run by Miami Jewish Health at Douglas Gardens North — broke ground last month and is scheduled for completion in late 2024. The project will deliver an updated mixed-income community, merging health care and housing into one development for local seniors, according to a press release.
The property will provide 410 studio, one-bedroom and two-bedroom apartment units restricted to residents age 62 or older, all of them Americans with Disabilities Act-accessible. Three hundred and ninety of the units will be both income- and age-restricted, while the remaining 20 will be rented at market rate. Amenities will include a fitness center, indoor and outdoor gathering areas, a business center, a library, pet grooming areas, game and craft rooms and a pond with walking paths.
The developers also plan to open a 15,500-square-foot medical facility on the property, which will include an adult day health center under MJH’s Program of All-Inclusive Care for the Elderly, which provides medical and social services for Medicaid and Medicare-eligible elderly living in a designated service area.
Funding for the project includes:
- $77 million in tax-exempt bonds from the Broward County Housing Finance Authority, lent by Citi Community Capital Bank.
- $50 million syndicated through affordable housing investor CREA.
- A $14 million subordinate loan from Broward County’s Housing Trust Fund.
- $12 million in seller take-back financing from MJH.
- $12 million in developer equity contributions.
The Douglas Gardens Residences will be the fourth low-income senior housing development run by Miami Jewish Health at Douglas Gardens North. Two earlier projects, totaling 142 units, were completed in 2006 and 2008 under the Department of Housing and Urban Development’s Section 202 Supportive Housing for the Elderly Program, followed by a third phase of 75 apartments in 2013. The nonprofit also operates market-rate independent living, assisted living and memory care housing on its main campus in Miami.