Orange Avenue RedevelopmentOrange Avenue Update August 2023
Funding Update
With support from the City, County and the Community Redevelopment Agency, we were able to secure additional financial commitments to close a $3 million funding gap for Phase III of the redevelopment. Florida Housing has set an aggressive timeline that we hope will get us within funding range. We submitted an application for State Apartment Incentive Loan financing with 4% tax credits on August 3rd. We will also apply on Sept. 12, 2023 for 9% tax credits.
Construction Update
Phase III will be a 100-unit senior (62+) facility located on the southeast corner of Orange and Country Club on what is now Sebring Court. Four adjacent acres were purchased to provide more useable land for the development; avoiding the floodway.
The solicitation for Phase III abatement and demolition was delayed so that inspection of the vacant units for asbestos containing materials could be completed. As you know , the previous demolition solicitation underestimated the amount of ACMs in the buildings, because the units were occupied and the solicitation was based on an estimate. The abatement/demolition solicitation included a more accurate determination of the ACMs. The solicitation demolished the units down to the slab (Sebring Dr.) and were issued in July. We plan to have the solicitation completed and awarded early August with abatement demolition to begin by September.
Much of the exterior construction work for Phase I has been completed. Most of the windows have been installed, the buildings have been wrapped with Tyve, most of the siding and brick masonry is completed except on building 5. Roofing installation is completed on buildings 1-4 and the trusses have been set on building 5. The retaining wall around the retention pond is underway. The City has installed all utilities for Phase I and II. Site water service installation
is 80% complete. Interior framing is underway.
The pads for Phase II buildings 1 and 2 have been poured. The foundation framing for buildings 3-6 are complete and ready for concrete. Vertical construction should begin by the end of the month for phase II.