PEMBROKE PINES, FL – Housing Trust Group (HTG), one of the nation’s largest developers of affordable housing, in partnership with award-winning Miami Jewish Health Systems (MJHS), one of the largest operators of independent and assisted senior living facilities in South Florida, held a grand opening today for Douglas Gardens V. Speakers at the event included Matthew A. Rieger of HTG, Johanna Suarez of MJHS, and Mayor Frank Ortis of the City of Pembroke Pines.
Douglas Gardens V is a new $36 million, 110-unit affordable community in Pembroke Pines, Fla. available to seniors (age 62 and up) with incomes at or below 60% of area median income. Rents range from $405 to $953 a month. The property is anticipated to be 100% leased by the end of this month due to the great need for affordable senior housing in Broward County.
“Douglas Gardens V would not have been possible without the critical support provided to HTG and Miami Jewish Health Systems from our partners at US Bank, Barings, the City of Pembroke Pines, Broward County and Florida Housing Finance Corporation,” said Matthew A. Rieger, President and CEO of HTG. “MJHS played an integral part of the development process, from facilitating site control to providing insight into the needs of the seniors they serve.”
Broward County is among one of the most expensive rental markets in the United States. A 2019 Rental Market Study conducted by the Shimberg Center for Housing Studies reported that nearly a third of Broward County renter households are cost-burdened – spending more than 40% of their monthly income on rent. This and other recent studies suggest that the problem has not materially improved in light of rising real estate prices.
“We applaud Miami Jewish Health Systems for taking a leadership role on a much-overlooked community health problem – the lack of affordable housing,” said Rieger. “There’s increasing evidence that access to safe, clean and affordable housing has a significant impact on overall health and mental well-being. By working together, HTG and Miami Jewish Health Systems can dramatically improve the lives of seniors on fixed incomes who are struggling to balance rising housing costs with increasing medical costs.”
Located at 705 SW 88th Avenue in Pembroke Pines, Douglas Gardens V offers one- and two-bedroom units ranging from 630 to 830 square feet. Community amenities include a multi-purpose community room, a Wi-Fi enabled computer lab and a private courtyard with landscaped pathways and gardens. Residents will also have access to services and programs, including health and wellness services, meal programs and extracurricular activities such computer classes, gardening, game and movie nights and other exciting events.
This is HTG’s third new senior housing community in Broward County. The firm recently completed Arbor View, a 100-unit affordable senior housing development in Margate, and developed the award–winning Village Place, a 112-unit affordable senior housing community in downtown Fort Lauderdale.
About Housing Trust Group: Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities whose real estate transactions exceed $3 billion in commercial, land and residential developments across Florida, the Southeastern U.S. and Arizona. HTG develops, builds and manages a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-use developments. For more information, please visit www.htgf.com