Housing Trust Group (HTG), a leading multifamily developer, and Mount Hermon African Methodist Episcopal Church Inc., under the ministry of Rev. Dr. Henry E. Green III, proudly hosted a grand opening celebration for Mount Hermon Apartments, a $43.5 million affordable housing community for seniors aged 62 and older, located in the heart of Fort Lauderdale.
The event, held on Thursday, June 26th, welcomed dozens of community leaders, public officials, residents, and project partners to commemorate the opening of the 104-unit development. Featured speakers included Bryan Finnie, Senior Vice President of Operations at HTG; Rev. Dr. Henry E. Green III of Mount Hermon AME Church; City of Fort Lauderdale Mayor Dean J. Trantalis; Broward County Commissioner Robert McKinzie; and City Commissioner Pam Beasley-Pittman.
“Mount Hermon Apartments is a testament to the power of partnership and purpose,” said Bryan Finnie. “In a city where average rents exceed $2,200, this community offers seniors a safe, affordable place to age with dignity. It’s a meaningful example of what’s possible when mission-driven organizations and government leaders work together to change lives.”
Located at 750 NW 4th Street, Mount Hermon Apartments offers one- and two-bedroom units for income-qualifying seniors earning at or below 25% and 60% of the area median income (AMI). Rents range from $433 to $1,422 per month, far below Fort Lauderdale’s average of $2,222 for a one-bedroom apartment (Apartments.com).
The seven-story community includes modern amenities designed to foster wellness and community, including a rooftop terrace with a walking path, lounge seating, and outdoor kitchen; a fitness center; multipurpose clubroom; and a 2nd-floor community gathering space. On-site services include 24-hour assistance, an assurance check-in program, adult literacy training, and support with light housekeeping, grocery shopping, and laundry.
Mount Hermon Apartments was financed with $32.6 million in 9% Low-Income Housing Tax Credit equity syndicated through Raymond James, a $33 million construction loan from TD Bank, a $7.536 million permanent loan through Berkadia and Freddie Mac, and a $640,000 loan from the City of Fort Lauderdale.
The project team included general contractor HTG Gomez Construction, architect REP-R-TWAR, civil engineer Thomas Engineering, and interior design firm B. Pila Design Studio.
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.
