Housing Trust Group (HTG), a leading multifamily developer, has closed on financing and commenced construction on Forest Glen, a $28 million affordable housing community located in Titusville, Florida.
Comprised of 80 affordable units, the senior living community is HTG’s second development in Titusville and third development built in partnership with HFH Supportive Housing.
Forest Glen is designed to serve low-income seniors offering 72 one-bedroom and 8 two-bedroom units, with rents ranging from $750 to $1,350 per month for income-qualifying residents earning at or below 40% and 60% of the area median income (AMI).
“Florida’s senior population is growing fast, and in Brevard County, too many older adults are struggling to afford housing,” said Matthew Rieger, President and CEO of Housing Trust Group. “Forest Glen provides safe, quality homes designed to support aging in place — and it’s exactly the kind of solution we need more of to meet this critical and growing demand.”
In Brevard County, the need for affordable senior housing is increasingly urgent. According to the Brevard Homeless Coalition, one in three unhoused individuals in the region are aging adults — meaning that seniors now occupy a significant portion of the county’s homeless encampments and shelters. This trend underscores a growing crisis among older
residents who face limited options for safe, stable, and affordable housing.
Located at 2001 South Street, the community features a multipurpose clubhouse, a state-of-the-art fitness center, luxury pool, bocce ball court, BBQ grill stations, and a dog park. Residents benefit from weekly check-ins, access to social and wellness events
and a financial management program.
Funding sources for Forest Glen include $23.6 million in Low-Income Housing Tax Credits (LIHTC) provided by the Florida Housing Finance Corporation and syndicated through Raymond James, $22 million in construction financing from TD Bank and a $6.8 million permanent loan from Grandbridge Real Estate Capital.
