When complete in early 2024, Greenlawn Manor Apartments will provide 80 affordable housing units for seniors in need at 911 Oleander St. in the city's Historic Westside neighborhood. The $23 million development, funded by a U.S. Department of Housing and Urban Development Low Income Housing Tax Credit, represents the single biggest affordable housing boost in city history, itself nearly matching the 91 units built since the New Smyrna Beach Housing Authority was established in 1950.
To expand the local affordable housing supply even further, on Aug. 22 city commissioners approved contributing $460,000 in Community Redevelopment Agency funds toward securing a $20 million Florida Housing Finance Corporation Low Income Housing Tax Credit that would, in addition to other funding sources such as Volusia County’s State Housing Initiatives Program, help facilitate construction of a proposed $27 million second phase multifamily project that would bring an additional 72 units to nearby 500 Brooks St.
Would you like to know more? Visit Greenlawn Manor Apartments online here and read the latest community redevelopment news in the September issue of our "In the Loop" economic development newsletter here.