SANFORD, FL – Gardner Capital, a family-owned private equity firm specializing in multifamily housing and renewable energy development and investment, anticipates Sanford’s first new affordable housing complex in several years to open in October. Built on the site of the former Redding Gardens public housing development, Georgetown Square will give precedence to former Redding Gardens residents.
Seniors interested in the new Georgetown Square site, to be located at 400 S. Locust Ave., can begin applying for housing as early as Monday. The $14.8 million apartment complex, with funding chiefly from housing credits, will include 90 one- and two-bedroom apartments.
The Sanford Housing Authority and Duvernay + Brooks served as development partners for the project and Winter Park Construction provided general contractor services. Stratford Capital and TD Bank are financial partners for the development.
“We are proud to jumpstart the first affordable housing complex in Sanford in years and look forward to revealing the transformation of this site into a modern apartment community this fall,” said Michael Gardner, President and CEO of Gardner Capital. “We hope this is the start of more much-needed affordable housing development in this area.”
Royal American Management will be property manager for the Georgetown Square senior apartments, which will include a fitness room, library, covered picnic area, multipurpose room, walking path and community garden.