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Affiliated Lands $46M to Build Workforce Housing in Hollywood
Affiliated Development secured a $45.5 million construction loan for a workforce housing development near the Young Circle in Downtown Hollywood, Fla., property records show.
The debt from Bank United will go toward building Tropic, an 18-story development housing 223 units at 303 S Federal Highway, just south of the Young Circle.
A quarter of units will be reserved for those earning up to 100 percent of the area median income with another 25 percent dedicated for those earning up to 120 percent, according to Broward County filings.
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