The Housing Trust Group (HTG) has started construction on Oak Valley, an affordable living complex in the Ocala community. The Lunz Group provided architectural design services for the 96-unit complex, catered to senior residents age 62+.
The senior community will be located at 805 NE 28th Street, less than three miles from downtown Ocala. Upon completion, Oak Valley will provide senior residents with a total of 96 one and two bedroom units, housed in three-story buildings on an eight acre site. All units will be restricted to senior residents earning 40-60 percent of the area’s median income.
Amenities will include a fitness center, theater room, swimming pool and three sports courts. The community will provide services including light housekeeping, adult literacy programs and computer training.
The HTG recently obtained necessary financing to break ground on the complex. U.S. Bancorp Community Development provided a $14 million construction loan and a $3.4 million permanent loan, and they will also invest $15.7 million in 9 percent tax credit equity.
HTG is collaborating with Rodda Construction on the $19 million complex, which is slated for completion in June of 2021. The Lunz Group has also provided site plans for a potential Phase II expansion.
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