Property: Hudson Village
Developer: Housing Trust Group
Architect: Corwil Architects
Location: Hollywood, Florida
Unit Size: 96
Cost: $36 million
Rent: $401-$1,300 (subsidized)
Construction is complete on Miami-based affordable housing developer Housing Trust Group’s Hudson Village project, which added 96 new affordable units to downtown Hollywood, Florida.
Hudson Village is the first new affordable high-rise development in Hollywood in over two decades, according to city manager Dr. Wazir Ishmael. The building is currently 100% leased, with rents ranging from $401 to $1,300 for families making between 30%, 60% or 70% of the local average median income.
“Broward County is among the most cost-burdened counties in the entire country, with very limited affordable housing,” said Matthew A. Rieger, president and CEO of Housing Trust Group. “This property will be a godsend for the many working families and students who currently face long commutes to their jobs in downtown Hollywood or at the hotels and restaurants along the beach.”
The exterior’s contemporary architecture combines concrete, stucco, green walls and aluminum louvers designed to look like natural wood. The building cantilevers over an arcade-style covered sidewalk, which offers shade to passerby as well as a look inside the building’s lobby through a glass facade.
The lobby itself incorporates avant-garde-inspired design elements to create a sense of “movement,” including LED lighting accents, metal grillwork, geometric-patterned tiles and a custom-designed Murano glass sculpture.
Housing Trust Group worked closely with the city of Hollywood on the building’s development, and its street-facing design elements were made with the city’s goals for harmony between the pedestrian and built environments in mind. Landscaping was also coordinated with the city to integrate native plant species near the sidewalks.
The $36 million development cost was financed through a $26 million loan from Chase, $26 million in Low Income Housing Tax Credits and an almost $10 million permanent loan from Walker & Dunlop through Freddie Mac.
The unit mix at Hudson Village includes 54 one-bedroom apartments and 42 two-bedroom, two-bath apartments. All include walk-in closets, Energy Star-rated stainless steel appliances, and low-flow fixtures. Almost all units have private balconies, and residents of the east-facing apartments have views of the Atlantic Ocean and shoreline.
The property’s 6,000-square-foot pool deck features a resort-style pool, barbecue area, lounge chairs and planters. Other amenities include a clubhouse with a catering kitchen, bar, media center, ping-pong table and pool table; a fitness center; a package delivery room and a parking garage with 122 spaces