LADY LAKE, FL – ConcordRENTS announced the ground breaking of Lake Sumter Apartment Homes, a $28.7 million affordable housing community, consisting of 158 apartment homes serving those making 40% – 80% of the area median income. Located minutes from the Lake Sumter Landing in The Villages, Lake Sumter Apartment Homes is the newest affordable community in 16 years in Sumter County.
Lake Sumter Apartment Homes is dedicated to provide safe and quality housing for the expanding needs of families in Sumter County. The community will appeal to the most discerning preferences including traditional 3-Story Garden style building designs as well as unique Carriage Homes over Garages. Each home will be fully equipped with granite countertops and CleanSteel energy efficient appliances, along with other modern finishes. By offering more 3 and 4 bedroom homes than most other apartments communities, it provides opportunity for larger families and those wanting additional space for a guest room or home office. The residents will also be able to take advantage of community amenities with a business center, heart healthy cardio and fitness studio, walking path along community pond and a dog park.
The Villages is one of the largest age-restricted active adult communities in the country, expanding over 3 counties and 20,000 acres, and filled with over 100 miles of golf cart legal streets and trails. This 55+ community features three town squares, 60 recreational centers, as well as 12 championship golf courses, including the famous Palmer Legends and Lake Sumter Apartment Homes is located just minutes from the epicenter.
Funding for Lake Sumter Apartment Homes comes from $14.3 million in Tax-Exempt Bonds, issued by the Housing Finance Authority of Volusia County, $10.85 million in equity from the sale of Federal Housing Tax Credits allocated through Florida Housing Finance Corporation, and other sources provided through by the Developer, Atlantic Housing Partners, L.L.L.P.
ConcordRENTS is a national leader in high quality, customer-focused property management of affordable multifamily rental housing. ConcordRENTS oversees over 100 properties in Florida.