Florida Construction News staff writer
Housing Trust Group (HTG) and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, have started construction on Princeton Grove, a new $23.5 million affordable housing community catering to seniors and senior veterans in the City of Crestview.
The project team for Princeton Grove includes general contractor Bayern Construction; civil engineering firm Choctaw Engineering; architect and interior design from PQH Group; and landscape designer BDG Booth.
Located approximately one hour east of Pensacola, apartments at Princeton Grove will for income-qualifying residents who earn at or below 22, 30 and 60 percent of area median income (AMI) and a minimum of five apartments will be for veterans who meet the same household income and age criteria. The property is scheduled to open in Fall 2024.
Princeton Grove is the seventh affordable housing collaboration between HTG and AM Affordable Housing. Other joint ventures include the award-winning Courtside Apartments in Overtown, Miami (2016) and Shoreline Villas community in the nearby Panhandle City of Fort Walton Beach.
“The demand for housing in the Florida Panhandle has never been greater,” Matthew A. Rieger, president and CEO of HTG, said in a statement. “Princeton Grove supports Crestview’s 2020 master plan goals by creating more affordable housing, creating safe and attractive housing, giving residents access to a multitude of recreational and lifestyle amenities, giving the community a say in the development scheme, and by creating a property with excellent curb appeal that enhances the overall character of the surrounding area.”
Amenities at the four-story building will include a clubhouse, fitness center, pickleball court, putting green, media room with computer stations, resort-style swimming pool, and dog park. In-unit amenities include Energy Star®-rated appliances, granite countertops and it will be National Green Building Standard certified.
