McDowell Housing Partners Starts $36M Clara Landings Affordable Housing Project in Naples

• McDowell Housing Partners has closed financing and started construction on Clara Landings, an 84-unit affordable housing development in Naples, Florida.
• The $35.9 million project will provide apartments for households earning 30%, 60%, and 70% of area median income (AMI).
• Completion is expected in spring 2028, with financing supported by tax-exempt bonds, Low-Income Housing Tax Credits, and $10 million in CDBG-DR funding.

What Clara Landings Will Deliver

McDowell Housing Partners has launched construction on Clara Landings, an affordable housing community at 4470 Santa Barbara Boulevard in Naples. The development is designed to expand rental housing options for working families in Collier County. The four-story, elevator-served building will include 84 apartments, comprising 60 one-bedroom, one-bath units averaging 730 square feet and 24 two-bedroom, two-bath units averaging 972 square feet. The apartments will be income-restricted across three AMI levels. Thirteen homes will serve households earning 30% of AMI, 32 units will be designated for 60% AMI, and 39 apartments will target households earning 70% AMI.

 

 

What the Project’s Design and Amenities Include

Fugleberg Koch is serving as architect of record, while DeAngelis Diamond is the general contractor. The project team also includes Kimley-Horn Engineering as civil engineer. Apartment interiors will feature ENERGY STAR-certified appliances, low-flow plumbing fixtures, SEER 15 HVAC systems, and LED lighting. The building is designed to achieve Bronze certification under the ICC 700 National Green Building Standard. Planned amenities include a leasing office, community clubroom, covered outdoor terrace, and tot lot. These shared spaces are intended to provide residents with community-oriented amenities alongside affordable housing.

What Financing Is Supporting Clara Landings

The $35.9 million development uses a layered affordable-housing financing structure. Funding includes tax-exempt bonds issued by Florida Housing Finance Corporation, 4% Low-Income Housing Tax Credits, and $10 million in CDBG-DR subordinate financing awarded by Florida Housing for areas affected by Hurricane Ian. First Horizon Community Investment Group provided tax-credit equity, while R4 Capital is serving as construction and permanent lender. The combination of public financing, tax-credit equity, and lending is helping bring the income-restricted project forward. The CDBG-DR allocation also connects the development to Florida’s broader recovery efforts following Hurricane Ian.

What the Development Means for Naples

Clara Landings adds 84 income-restricted apartments to Collier County, where housing affordability remains a major issue for local workers and families. McDowell Housing Partners Chairman and CEO W. Patrick McDowell said the project reflects the company’s commitment to expanding access to quality affordable homes. With financing closed and construction underway, the development is expected to reach completion in spring 2028. Its mix of apartment sizes, income tiers, and community amenities will provide a new affordable rental option in Naples.