More affordable housing under construction near downtown Bradenton. Here’s what to know
A new affordable housing complex is under construction on 14th Street West near downtown Bradenton.
A private equity investor is developing 40 units of affordable housing at 1003 14th St. W., according to permits filed with the city. The four-story Bradenton Lofts building represents a $2.7 million investment, according to planning documents.
Nathan Cassidy, the project manager for the Bradenton Lofts project, said construction is expected to pick up speed in the coming weeks.
“Bradenton Lofts has been an exciting project for our private equity firm, and the great support and dedication we have received from the City Of Bradenton have made this project possible,” Cassidy wrote in an email to the Bradenton Herald.
H4ME, the company behind the Bradenton Lofts project, also posted information to its website shedding light on the affordable housing complex.
In a short blog post, the private equity investor said it expects the project to be popular due to Manatee County’s affordable housing shortage.
“Given the shortage of affordable housing, especially in some of the fastest growing cities in Florida, such as Bradenton, we anticipate this project to be oversubscribed by qualified applicants,” H4ME wrote.
In an interview with the Bradenton Herald on Tuesday, City Administrator Rob Perry agreed that the housing meets a “critical need” for people looking for an affordable place to live.
“We have a lot of folks that work in education, healthcare and public safety, and it’s tough for folks that are entry-level to become part of the community and live near where their work is to mitigate traffic and make it financially viable to take jobs,” Perry said.
The city of Bradenton has approved other affordable housing developments recently, including Nine20 Manatee and Riverview6 in downtown Bradenton. The Met is another affordable complex under construction on 14th Street West.
The D.C.-based company has not shared further information about the Bradenton Lofts project, such as the construction timeline or the cost of monthly rent.
H4ME says a website for prospective tenants to submit applications will be available in the “coming weeks.”
This story was originally published October 25, 2023 at 5:00 AM.
