Housing Trust Group and AM Affordable Housing JV breaks ground on Florida affordable senior project

Housing Trust Group (HTG) and AM Affordable Housing have closed on financing and began construction on Astoria on 9th, a new $37.4 million, 120-unit affordable housing community catering to seniors aged 62 and up in Bradenton, Fla.

Located approximately one mile from downtown Bradenton, Astoria on 9th will be reserved for income-qualifying residents who earn at or below 22, 30 and 60 percent of area median income, with rents ranging from $356 to $1,165 per month. The property is scheduled to open in fall 2024 with leasing slated to begin in summer 2024.

Astoria on 9th marks HTG’s first senior affordable community in Bradenton and its fourth affordable housing community in the city overall. HTG also developed The Addison, Oaks at Lakeside, and Riverview6, which is currently under construction as well.

“Seniors in particular have felt the brunt of our current affordable housing crisis, so we are pleased to be developing our first affordable community exclusive