MIAMI, FL - McDowell Housing Partners (MHP), a leading affordable housing developer and investment company, announced the financial closing and construction commencement of Ekos at Rockledge Park, a 100-unit affordable housing community near Florida’s Space Coast in Rockledge, Florida. Ekos at Rockledge Park will provide desperately needed housing options to the Rockledge market for families making between 30-70% of the Area Median Income (AMI).
“Ekos at Rockledge Park marks a milestone in local workforce housing, offering 100 modern apartments with rents significantly below market rate. This community is designed to empower working families, allowing them to live where they work and truly transform their lives,” said W. Patrick McDowell, Chairman and CEO of McDowell Housing Partners. “More than just a residential development, Ekos at Rockledge Park represents a lasting investment in Brevard County's future and its workforce.”
The community will serve a mix of income levels, with 15% of units reserved for extremely low-income (ELI) households at 30% of Area Median Income (AMI), 40% of units serving households at 60% AMI, and the remaining 45% serving households at 70% AMI.
As the developer continues expanding its footprint across Florida, Ekos at Rockledge Park represents Miami-based McDowell Housing Partners' 18th affordable housing project to start construction in the state of Florida since 2019, and its first development in Brevard County.
Located at 1505 Cogswell Street, Ekos at Rockledge Park will deliver 100 apartment homes within a five-story residential building with a fully-amenitized internal clubhouse. The project will provide 70 one-bedroom, 25 two-bedroom, and five three-bedroom well-appointed units ranging from 593 to 1,026 square feet and feature kitchens with full-size stainless-steel appliances, granite countertops, modern cabinetry, luxury vinyl tile flooring, balconies, and washer/dryers hookups in all units.
The community-oriented amenities will include an internal clubhouse with on-site management offices, a state-of-the-art fitness center, a media/business center with computer stations, and a multipurpose clubroom with a kitchenette and game tables. Additional amenities include a mailroom, package lockers, community washers/dryers, and an outdoor pool with BBQ grilling stations and seating.
Ekos at Rockledge Park will be a green building certified under the National Green Building Standards to help residents keep their utility bills down. Each apartment will offer many energy efficiency features, including Energy Star-rated appliances, low-flow plumbing fixtures, impact windows, LED lighting, and more.
Finance for this development is made possible through a combination of tax-exempt bonds, $10,000,000 in CDBG-DR funds, and 4% non-competitive Low-Income Housing Tax Credits (LIHTC), all issued by Florida Housing Finance Corporation. Bank of America serves as the project's tax-credit investor and construction lender, while Cedar Rapids Bank & Trust provides long-term permanent financing.
Nestled in the heart of the Space Coast, the City of Rockledge offers seamless commuting with major thoroughfares like U.S. Highway 1 and Interstate 95 right at its doorstep. The community will be approximately 45 miles east of Orlando with easy access to Cocoa Beach, Port Canaveral, and Kennedy Space Center. The area is a hub for aerospace, healthcare, and technology employment, drawing a stable workforce and fueling strong housing demand.
The project team for Ekos at Rockledge Park includes Slocum Platts Architects (SPA) as the architect of record, MHP Park & Eleazer Construction LLC as the general contractor, and Kimley Horn as the civil engineer. Ekos at Rockledge Park is expected to be completed in the first quarter of 2028.