Housing Trust Group Breaks Ground on $47M Villa Jordana Senior Housing Project in Hollywood, FL

Key Points

• $47M total development cost for a 96-unit affordable senior housing project in Hollywood, FL
• Rents from $713 to $1,555, well below Hollywood’s average rent of $2,179

The Deal

Housing Trust Group has broken ground on Villa Jordana, a $64 million affordable senior housing community at 826 S Dixie Highway in Hollywood, Florida. The 96-unit project will serve residents age 62 and older and is expected to deliver in 2027. Rents will range from $713 to $1,555 per month. That is significantly below Hollywood’s average rent of $2,179, highlighting the affordability gap in Broward County. For landlords and multifamily investors, the story here is less about luxury supply and more about how deeply capitalized affordable housing continues to move forward despite higher interest rates.

Project Economics and Cost Structure

With a total development cost of roughly $47 million, Villa Jordana reflects the rising expense of building multifamily housing in South Florida. Land costs, insurance requirements, construction labor, and materials have all increased over the past several years, pushing per-unit development costs significantly higher than a decade ago. For affordable housing developers, these economics make careful underwriting essential. Projects like Villa Jordana typically rely on long-term affordability restrictions and stable rent collections rather than rapid rent growth to support the investment. While rents are capped well below market levels, the predictability of income, combined with strong demand from income-qualified seniors, can still make these projects financially viable over the long term.

The Team Behind the Project

Housing Trust Group continues to expand its footprint across Florida’s affordable housing sector. Ballast Construction is serving as the general contractor, with Realization Architects leading design. The focus is clear: deliver income-restricted senior housing in high-demand submarkets where market rents have outpaced fixed incomes.

Why Senior Affordable Housing Remains Attractive

South Florida’s population continues to age, and Florida remains one of the country’s top retirement destinations. At the same time, rising insurance costs, property taxes, and operating expenses are pushing market rate rents higher. That dynamic creates sustained demand for subsidized senior housing. Properties targeting seniors often benefit from lower turnover and steady occupancy, especially when supported by federal tax credits. For pro-landlord investors, affordable housing backed by tax credits offers defensive positioning. Revenue streams are regulated but predictable, and demand is driven by demographic shifts rather than economic cycles.

What This Means for Investors

Villa Jordana underscores a broader trend. Even as some market-rate multifamily projects stall due to financing constraints, affordable housing deals with strong public support continue to close. Housing Trust Group’s $47 million commitment in Hollywood shows that capital is still flowing into income-restricted senior communities, particularly in growth markets like Broward County, for investors watching South Florida, affordable senior housing is shaping up to be one of the more resilient plays in today’s multifamily landscape.