July 7, 2020
Affordable housing developer Housing Trust Group has broken ground on Oak Valley, a $19 million affordable housing community for seniors in Ocala.
The garden-style community will consist of 96 one- and two-bedroom units for residents 62 and older who earn 40% and 60% of the local area median income. Rents will range from $412 to $742 for qualifying residents. Amenities will include a gathering and catering area, fitness center, a theater room, pool and a sports court. The community is located at 805 NE 28th St.
Oak Valley is a partnership between HTG and non-profit AM Affordable Housing Inc., an organization founded by NBA Hall of Famer Alonzo Mourning. Funding sources for the project included a $14 million construction loan and a $3.4 million permanent loan from U.S. Bancorp Community Development Corp.
For comments, questions or concerns, please contact David Cohen