Housing Trust Group Builds 73-Unit Kissimmee Cove Affordable Housing Project in Florida

• Housing Trust Group (HTG) is developing Kissimmee Cove, a 73-unit affordable apartment community at 1790 N. Hoagland Boulevard in Kissimmee, Florida.
• The four-story project will feature one- and two-bedroom apartments restricted to households earning up to 30%, 60%, and 70% of area median income.
• Construction is underway, with completion targeted for early 2028. Financing includes public housing funds, tax-credit equity, and private lending.

What Housing Trust Group Is Delivering at Kissimmee Cove

Kissimmee Cove will occupy a two-acre site at 1790 N. Hoagland Boulevard in Kissimmee. The four-story building will contain 73 apartments, with a mix of one-bedroom and two-bedroom floor plans. The units will include quartz countertops, tile flooring, and Energy Star appliances. The community is planned with a resort-style swimming pool, fitness center, business center, library, and bicycle storage. HTG also plans to incorporate energy-efficient and impact-rated windows, alongside other sustainability and resiliency features intended to support long-term efficiency and resident comfort.

What the Affordability Requirements Mean

The apartments will be reserved for households earning at or below 30%, 60%, and 70% of area median income (AMI). Osceola County’s median income was reported at $88,559 in 2025. State housing records show the unit distribution as 11 apartments at the 30% AMI level, 29 at 60%, and 33 at 70%. The project is structured to serve households across several income bands rather than one single eligibility threshold. For investors, income restrictions are central to the project’s operating model. They shape eligible rents and resident qualification while supporting access to affordable housing financing programs.

Who Is Financing and Building the Development

HTG is the developer, with FK Architecture serving as architect, Hamilton Engineering & Surveying as civil engineer, and Park & Eleazer as general contractor. Financial partners include Raymond James, Florida Housing Finance Corporation, Fifth Third Bank, and Grandbridge/Freddie Mac. The capital structure combines housing tax-credit equity, disaster recovery funding, construction financing, and permanent debt. The project is supported in part by an $8.4 million Community Development Block Grant Disaster Recovery loan, linked to Florida’s recovery funding following Hurricane Ian. This layered financing approach helps advance income-restricted housing that may not be feasible using conventional market-rate capital alone.

What Kissimmee Cove Signals for Central Florida Multifamily

Kissimmee Cove reflects continued development activity in the Central Florida housing market, where population growth and affordability pressures remain important factors. Income-restricted communities can add rental supply while creating a different investment profile from conventional market-rate properties. For landlords and developers, the project underscores the role of structured financing and public-private partnerships in delivering new multifamily housing. With construction underway and early 2028 completion targeted, the next milestone is execution through delivery.