McDowell Housing Partners (MHP), a leading affordable housing development and investment company, has completed construction of phase one of Ekos at Arbor Park in North Port, a city located in Sarasota County, Florida.
Located at 1320 Citizens Parkway, Ekos at Arbor Park delivers 136 units (76 one-bed / 60 two-bed), providing much-needed senior housing to households making between 20-70% of the Area Median Income. That translates to rents ranging between $330- $1,235 for one-bedroom units and $385 – $1,471 for two-bedroom units. The community is restricted to residents 55 years of age and older, filling the need for low- and moderate-income individuals still in the workforce, as well as retirees.
“We are incredibly proud to celebrate the completion of the first phase of Ekos at Arbor Park. It’s an incredibly well appointed and managed community with rent levels that are far lower than anywhere else in North Port and Sarasota County,” said Chris Shear, COO of McDowell Housing Partners. “We remain dedicated to addressing the housing crisis in Sarasota County as we advance toward the closing of the land adjacent to phase one, where Ekos Arbor Park Phase II will be built, providing an additional 66 high-quality affordable apartments to families and individuals of all ages.”
The community was funded through 4% LIHTCs purchased by Wells Fargo, Wells Fargo construction loan, Freddie Mac permanent senior debt and subordinate loans from Florida Housing Finance Corporation.
The community boasts an array of amenities and resident services including a clubhouse with multipurpose social/community room, a fully equipped fitness center, media center and outdoor grills on the lanai overlooking the resort-style pool. Ekos at Arbor Park offers well-appointed one- and two-bedroom apartments, ranging from 700 to 946 square feet. Each apartment unit offers spacious kitchens incorporating energy star appliances, granite counter-tops with tile back-splashes, stainless steel appliances, walk-in closets, in-unit washers/dryers, and tile flooring throughout all apartment homes.
The developments are conveniently located just off of Toledo Blade Boulevard and W Price Boulevard, providing residents with easy access to dining options, grocery stores, medical centers, and recreational options.
Forum Architecture and Interior Design served as the architect and MHP-Hennessy Construction, LLC, a joint venture between MHP Builders and Hennesy Construction Services, served as the general contractor, bringing the modern and functional design to life.
