Housing Trust Group (HTG), a leading multifamily developer, in partnership with AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, proudly celebrated the grand opening of Astoria on 9th, a new $37.4 million affordable senior housing community in Bradenton, Florida.
To commemorate this significant milestone, Housing Trust Group (HTG) hosted a grand opening ceremony on May 27th, bringing together key partners and community leaders who were instrumental in bringing the project to life. The event marked the official debut of Astoria on 9th, a five-story, 120-unit development that stands as HTG’s first affordable senior housing community in the City of Bradenton for residents 55 and older. This project also represents HTG’s fourth community in Manatee County, joining The Addison, Oaks at Lakeside, and Riverview6.
Featured attendees included Jordan Tolman, Chief Operating Officer of HTG; Alonzo Mourning, founder of AM Affordable Housing; Manatee County Commissioner George Kruse; City of Bradenton Mayor Gene Brown; and Dr. Jeff Burton, Executive Director of the City of Bradenton CRA, Florida State Senator Jim Boyd.
“The opening of Astoria on 9th is a commitment to not only seeing, but also serving seniors throughout Tampa Bay and Florida,” said Jordan Tolman, COO of Housing Trust Group. “This is a critical moment where private and public partners are meeting today’s needs and delivering safe, high-quality affordable housing to those who need it most. We’re proud to work alongside incredible individuals that understand this need and helped make this new community a reality.”
Astoria on 9th offers a mix of one- and two-bedroom units ranging from 635 to 907 square feet for income-qualifying residents earning at or below 22%, 30%, and 60% of the area median income (AMI). Rents range from $322 to $1,316 per month, well below Bradenton’s average rent of $2,475 (Zillow).
“Through the Fifth Third Community Development Corporation, we were honored to provide both a construction loan and an equity investment to help bring this vision to life,” said Stephanie Green, South Florida Regional President at Fifth Third Bank. “This project exemplifies the power of partnership—between Housing Trust Group, AM Affordable Housing, and the many public and private stakeholders who made it possible. Together, we’re not just building housing—we’re building dignity, opportunity, and a stronger future for our seniors.”
Located at 2244 9th Street West, Astoria on 9th features a clubroom, cyber café with catering kitchen and bar, state-of-the-art fitness center, surface parking, and a dog park. Residents also benefit from programs and services, including adult literacy training and assistance with daily activities such as grocery shopping, laundry, and housekeeping. Located less than ten minutes from downtown Bradenton, the community is situated close to numerous local eateries, supermarkets and churches.
The community also features a powerful public art installation titled “Embrace,” commissioned through SUAP Art by artist Saro Utukian. The sculpture symbolizes the connection between generations, reflecting Astoria’s core mission to create a place where the wisdom of our elders meets the curiosity of youth, and where every life experience is honored.
Funding sources for Astoria on 9th included a $19 million construction loan provided by Fifth Third Bank; $17.18 million in 4% Low-Income Housing Tax Credit equity syndicated through Raymond James; a $4.75 million State Apartment Incentive Loan (SAIL), a $713,400 National Housing Trust Fund (NHTF) loan and a $600,000 Extremely Low Income (ELI) loan. Florida Housing Finance Corporation also released funding through the Construction Housing Inflation Response Program (CHIRP), and the property was allocated an additional $4.3 million of SAIL.
Additionally, the property received a $7.64 million Freddie Mac loan through Capital One; $1.2 million in funding from Manatee County, as well as a $600,000 loan from the Bradenton CRA.
The project team for Astoria on 9th included general contractor Hennessy Construction Services Corp.; architecture from Fugleberg Koch, LLC, engineering firm Hamilton Engineering & Surveying, LLC, and interior designer Builders Design.
