Village Square Underway

Village Square will offer a range of living options

Village Square will offer a range of living options

The Delray Beach Housing Authority (DBHA) held a ground breaking ceremony recently to celebrate the commencement of Village Square, a revitalization project that will offer 259 affordable residential housing units in the southwest area of Delray Beach. Village Square, located at 770 SW 12th Terrace, will promote a mixed-income community by providing rental and homeownership opportunities for elderly, workforce and low income families.

The project is scheduled to be completed by June 2014.  Construction will be completed in three (3) phases: Phase 1 Elderly (84 rental apartment units), Phase 2 Multi-Family (144 rental apartment units) and Phase 3 Single Family (31 single family homes). The total cost of the project, $38.4 million, is being funded by the Florida Tax Exempt Bond Financing ($5.9 million), the Delray Beach Community Redevelopment Agency ($2.7 million) Private Capital Contributions ($10 million) and tax credits by the Florida Housing Finance Corporation ($19.8 Million).

Dorothy Ellington, Executive Director for the Delray Beach Housing Authority said the project will have a profound impact on the city’s southwest section.

This construction project is projected to add more than 100 construction jobs and approximately 10 permanent jobs to the Delray Beach community and will positively contribute to the City’s tax base,” she said.  “The Partnership, which includes the Delray Housing Group, a non-profit subsidiary of the Authority, will contract with a private company skilled in managing Tax Credit developments so as to protect the substantial investments and long term viability of the community.  In addition, a superior security plan has been developed and will be maintained over the life of the development. This will remain a great asset for the City of Delray Beach and the southwest neighborhood.

Village Square, formerly known as the Carver Estates Public Housing Complex, encompasses approximately eighteen (18) acres of vacant land at SW 7th Street to the north, SW 10th Street to the south, Delray Beach Cemetery to the east and NW 13th Avenue/Auburn Avenue to the west.

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