Housing Trust Group (HTG), a leading nationwide multifamily developer, has closed on financing and commenced construction of Fox Pointe, a $25.7 million affordable housing community in Daytona Beach. The property is expected to be completed by Q4 2025, with leasing to begin in the fall of that same year.
“As rental rates remain elevated across major metros throughout Florida, Volusia County has seen a growing need for affordable housing and a solution to address the rise in its homeless population,” said Matthew Rieger, President and CEO of HTG. “Marking our second development with HfH Supportive Housing, our mission is to alleviate this challenge with viable housing options that serve as an example of how to solve the local housing crisis.”
Located at 1088 10th Street in the City of Holly Hill, Fox Pointe will include 36 one-bedroom, 24 two-bedroom, and 10 three-bedroom units ranging from 600 to 975 square feet. Built across more than five acres, the project will encompass more than 80,200 square feet of space featuring a resort-style swimming pool, clubhouse with lounge area, business center, picnic pavilion, dog park, playground, a state-of-the-art fitness center along with on-site resident services.
Funding sources include: $18.3 million in Low-Income Housing Tax Credits (LIHTC) from Florida Housing Finance Corporation that was syndicated through Raymond James Equity Investor; $13.5 million in construction financing from TD Bank; a $3.9 million Rental Recovery Loan Program (RRLP) Base Loan; a $2 million Volusia County HOME and SHIP Loan; $1.3 million in financing from HOME Investment Partnerships American Rescue Plan (HOME-ARP); and a $235,500 RRLP ELI Loan.
The design and construction team for Fox Pointe includes Park and Eleazer Construction, FK Architecture, civil engineer Mark Dowst & Associates, Inc., interior designer Builders Design, and landscape architect Culliver Design, Inc.
Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities whose real estate transactions exceed $4 billion in commercial, land and residential developments across Florida, Texas, Illinois and Arizona. HTG develops, builds and manages a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-use developments.
