MIAMI, FL - Housing Trust Group (HTG), an award-winning developer of market-rate and affordable housing, proudly announces the official opening of Hillsboro Crossing, a $42 million affordable senior community in Deerfield Beach, Florida. This development in partnership with the Broward County Housing Authority, provides 75 affordable apartments designed for residents aged 62 and older. Hillsboro Crossing marks the first phase in a two-phase redevelopment of a former public housing site, which was demolished in 2007.
Located at 3851 N Dixie Highway, Hillsboro Crossing offers spacious one- and two-bedroom units spanning from 702 square feet to 927 square feet. Monthly rents range from $348 to $1,926 for income-qualifying residents earning at or below 22%, 25%, and 60% of the area median income (AMI).
"As housing costs remain at elevated levels throughout Florida, the problem is particularly acute for seniors in our community,” said Matthew A. Rieger, President and CEO of HTG. “Roughly ten percent of those aged 62 and older are experiencing homelessness throughout the state according to the Florida Council on Homelessness. The delivery of Hillsboro Crossing is meant to alleviate this problem and serve as an example of effective public-private development.”
Hillsboro Crossing offers 5,000 square feet of amenity space, including a state-of-the-art fitness center, a multipurpose room, and outdoor rooftop terraces, providing residents with both comfort and convenience. The community is also pet-friendly and includes 96 parking spaces. It is conveniently located near Hillsboro and Pompano Beaches, Publix and Whole Foods grocery stores, and Broward Health North.
The property meets National Green Building Standard certification, featuring energy-efficient lighting and appliances to promote sustainability.
With the recent completion of Hillsboro Crossing, one of HTG’s newest communities in Broward County, and the addition of Mount Hermon Apartments—a 104-unit senior community in Fort Lauderdale—plus the recent completion of University Station with 216 units in Hollywood, HTG continues to make a significant impact in South Florida. These developments reflect HTG’s ongoing commitment to affordable housing, bringing the total to over 900 affordable units across eight properties in Broward County and more than 3,000 units across 26 properties throughout the South Florida tri-county area.
Hillsboro Crossing was funded through a combination of public and private sources, including $17.4 million in Low-Income Housing Tax Credits (LIHTC) provided by Florida Housing Finance Corporation syndicated by Raymond James, along with a State Apartment Incentive Loan (SAIL) and Community Housing Impact and Preservation (CHIRP) loan totaling $7.1 million; a National Housing Trust Fund (NHTF) loan of $1.5 million, an Extremely Low Income (ELI) loan of $600,000; a $25 million construction loan from Fifth Third Bank; a $12.17 million permanent loan from Grandbridge Real Estate Capital, a $1,050,000 land loan from Broward County Housing Authority (BCHA), and a Broward Housing Finance Authority (BHFA) grant of $100,000.
The design and construction team for Hillsboro Crossing includes general contractor Ferncore Corporation, ATL Architecture, engineer Keith & Associates, interior design by Builders Design and landscape architecture by Sieger Suarez Architects.