McDowell Housing Partners (MHP), a leading affordable housing developer and investment company, announced the financial closing and construction commencement of Ekos Creekside, a 160-unit affordable housing community in Naples, Florida.
As the developer continues expanding its footprint across Florida, Ekos Creekside represents Miami-based McDowell Housing Partners’ 15th affordable housing project to start construction in the state of Florida, and it’s 4th development in Naples. The closing comes on the heels of McDowell’s completion of Ekos Cadenza, a 320-unit multi-phase affordable senior housing community on Rattlesnake Hammock Road just east of Collier Boulevard in Naples, an area that has experienced a construction boom, with multiple market-rate apartment communities, assisted-living facilities, and new retail developments added recently.
“Ekos Creekside is our fourth affordable housing development in Naples, and without question, our most impactful. With 160 apartments for working families, in a prime location along the Tamiami Trail corridor, and with rents more than 30% below market, this community will transform lives by providing stability for 160 working families,” said Christopher Shear, President of McDowell Housing Partners. “Ekos Creekside is not just about creating housing, it’s about investing in Collier County’s future and supporting the families who are the backbone of its economy.”
Located at 6360 Collier Boulevard, Ekos Creekside will deliver 160 apartment homes within a seven-story residential building with a standalone fully-amenitized clubhouse. Ekos Creekide provides desperately needed housing options to the Naples market for households making between 30-80% of the Area Median Income (AMI). The project will provide 98 one-bedroom, 48 two-bedroom, and 14 three-bedroom well-appointed units ranging from 767 to 1287 square feet and feature kitchens with stainless steel appliance packages, granite countertops, kitchen islands, tile backsplashes, walk-in closets, and washer/dryers in all units.
Enhanced community amenities will feature an outdoor pool with BBQ grilling stations, a state-of-the-art fitness center, a business center with computer stations, and a multipurpose clubroom with a kitchenette and media area.
Collier County, through its Workforce Housing Land Acquisition Surtax Fund, secured the land for this development and entered into a long-term ground lease with McDowell Housing Partners to ensure Ekos Creekside remains affordable in perpetuity.
Financing for this development is made possible through a strong public–private partnership that includes a State Apartment Incentive Loan (SAIL) and tax-exempt bonds from the Florida Housing Finance Corporation. Fifth Third Bank provided the construction loan, while Barings, LLC a global investment management firm owned by Mutual Life Insurance Company, is providing the permanent financing. McDowell raised equity for the development through the syndication of 4% Low-Income Housing Tax Credits (LIHTC) to CREA, LLC.
The project team for Ekos Creekside includes DeAngelis Diamond as the general contractor, FK Architecture as the architect of record, and Davidson Engineering as the civil engineer. Ekos Creekside is expected to be completed in the second quarter of 2027.
