Another affordable housing complex coming to Bradenton after Manatee County OKs loan
County officials approved a $3.5 million loan to help cover the construction of a Bradenton apartment complex looking to add another 182 affordable housing units in the area.
Robin’s Apartments, just south of U.S. 301 on First Street East, will see new development on a vacant part of the property. The additional complex will include a mix of studio, one- and two-bedroom apartments for residents at lower income levels.
Mark Vengroff, managing partner of One Stop Housing, said his organization plans to open The Nest by the end of 2025.
“Every one of our properties has a waiting list of over 100 people, which gives you an idea of the demand,” Vengroff said in an interview with the Bradenton Herald.
The Manatee County Commission approved the request for a $3.5 million loan to be paid back over the next 20 years, despite a vote earlier this year to deny gap funding requests from affordable housing developers. One Stop Housing will also pay the county about $82,000 in interest every year, according to the loan agreement.
The county’s gap funding decision came while The Nest was still moving through the approval process. Based on One Stop Housing’s track record of providing affordable places to live in Manatee County, officials said they had no problem with the request.
Manatee approves affordable housing loan
“I’m excited about this,” said Commissioner Amanda Ballard. “I think you’re a wonderful organization and I love what you do.”
“I’m so happy to have such a great organization that’s doing such a great job,” added Commissioner Ray Turner.
Development of the new apartments is expected to cost roughly $23 million, according to public records. The Nest is also expected to feature community resources on-site, including after-school childcare.
“Robin’s is only studio apartments, currently, so this project is very meaningful to us because it’ll be one-bedroom and two-bedrooms, as well, so it’ll continue to support the community and provide those essential wraparound services that are so important,” said Maurice Campbell, president of One Stop Cares, a nonprofit organization that supports One Stop Housing.
In an agenda memo summarizing the funding request, county staff said they expect The Nest to be a successful endeavor.
“We are sure that The Nest multifamily development will lease up immediately following completion as there is still a housing deficit in Manatee County,” the memo said.
Captain Richard Gerken, a 30-year employee with the Manatee County Sheriff’s Office, also voiced support for the project.
“They’re a tremendous asset to the community and a great help for us,” said Gerken, who described One Stop Housing as a key resource for the sheriff’s office’s homeless outreach efforts.
Commissioners voted unanimously to approve the $3.5 million funding request. For more information, visit www.OneStopHousing.com.
