McDowell Housing Partners (MHP), a leading affordable housing development and investment company, announced the financial closing to build the second phase of Ekos at Arbor Park, an affordable housing community comprising a total of 66 units in North Port, Florida.
As the developer continues expanding its footprint across Florida, Ekos at Arbor Park II represents Miami-based McDowell Housing Partners’ 14th project to start construction in the state of Florida. The closing comes on the heels of McDowell’s recently completed phase one of Ekos at Arbor Park, an affordable senior community with 136 units adjacent to the future development.
“We are excited to close on phase two of Ekos at Arbor Park, our second affordable development in Sarasota County, that will provide family apartments and loads of amenities in a prime location,” said Christopher Shear, President of McDowell Housing Partners. “We remain committed to building affordable housing to meet the increasing demand in cities across Florida.”
Located at 1511 W Price Boulevard, Ekos at Arbor Park II will deliver 66 apartment homes across three separate three-story buildings, providing much-needed housing options to families with incomes at or below 70% of the Area Median Income (AMI).
Ekos at Arbor Park II will be a green building certified under National Green Building Standards (Bronze Level) and will include a photovoltaic solar system. Each spacious apartment will offer many energy efficiency features, including Energy Star-rated appliances, low-flow plumbing fixtures, SEER 15 HVAC systems, LED lighting and more. Enhanced community amenities will feature a playground, hardscape courtyard, pet park/wash/waste, and bike parking. The development is conveniently located just off Toledo Blade Boulevard and W Price Boulevard, providing residents with easy access to dining options, grocery stores, medical centers, and recreational options.
Financial partners include Truist Bank, Grandbridge Real Estate Capital and Fairview Housing Partners. The development received Community Development Block Grant (CDBG) funding from Sarasota County Resilient SRQ.
The project team for Ekos at Arbor Park II includes Park & Eleazer as the general contractor and FK Architecture as the architect of record.
