New affordable housing complex coming to east Bradenton

A Miami-based affordable housing developer will move forward with a Bradenton project after securing tax credits through the Florida Housing Finance Corp.

The announcement was made Wednesday night. Jake Zunamon, senior development manager for the Housing Trust Group did not return a call for comment, but in an email to the city he said, “I can’t thank all of you enough for the help with the application. ... Thanks again and looking forward to bringing a really special development to the city.”

The 3.5 acres of vacant land is on the southwest corner of Sixth Avenue East and Ninth Street East. The project is called The Addison, which will have 90 units, including 10 three-bedroom apartments, 54 two-bedroom apartments and 26 one-bedroom apartments.

Sixty-nine percent of the units will be set aside for those earning below 60 percent of the area’s median income, which is $47,910; nine units will be for those earning below 35 percent of the area’s median income; and 12 units will be set aside for market rate rents. Estimated rents based for those making less than 60 percent of the area’s median income would be about $561 a month for a on- bedroom and $780 for a three-bedroom.

The project includes 2,000 square feet of retail space and will have an array of amenities for the residents, including clubhouse with community center, fitness center, media room, and swimming pool, as well as in-house resident classes on computer training, job employment assistance and literacy training.

The site has had several attempts at development in the past. BlueSky Communities made a tax credit attempt in late 2014 for a $17.5 million affordable housing complex, but was unsuccessful and the city permit eventually expired. The city committed $37,500 of Community Development Block Grant funds toward the project to help the developer strengthen his application.

The Housing Trust Group of Miami did not go through FHFC’s lottery system, rather they tried the more competitive, merit-based system, which produces even less success. However the project scored second highest and was awarded the credits. The redevelopment of the 1950s-era Love Apartments in east Bradenton scored fourth highest and was not funded.

Planning and Community Development Director Catherine Hartley said it was the second attempt for this particular development.

“We are super excited with what they’ve brought forward,” Hartley said. “It’s going to have some nice resident programs.”

Hartley said she will be trying to meet with Zunamon later this week and at that time, more details and potential time lines may come available. It is only the second successful tax credit project within city limits. The Grand Palms senior living facility in the 1700 block of 14th Street West qualified last year and that project is currently under construction.

This story was originally published April 27, 2017 at 2:57 PM with the headline "New affordable housing complex coming to east Bradenton."