In an effort to combat the affordable housing crisis for our aging populations, the Tampa City Council approved $750,000 to help fund the construction of an 88-unit affordable housing complex called Madison Highlands II.
The funds were made possible with a State Housing Initiative Program (SHIP) Grant, which provides local governments with financial resources to preserve affordable homeownership for low-income families. The apartments, located at 5315 N. 37th Street, will be Phase II of Madison Highlands. Phase I opened in November 2021.
“Ensuring our area’s most vulnerable seniors have access to affordable housing that enables them to live independently is a priority,” said Mayor Jane Castor. “Housing costs are a long-standing issue for seniors, especially retirees on fixed incomes, and this development will help remove that burden.”
Of its 88 units, nine of the units of Phase II will be reserved for extremely low-income tenants, and fifty percent of those will be deemed “Special Needs” units. Ninety percent of the units will be set aside for those at sixty percent area median income (AMI), and ten percent of the units are for those at forty percent area median income.
“The demand for affordable, accessible housing for seniors on limited incomes has soared,” said Kayon Henderson, the City’s Director of Housing and Community Development. “Affordable housing has been shown to support independence – and reduce the housing cost burden for those on fixed income—ultimately contributing to our senior community’s housing needs. Awarding this SHIP grant money is a major step in the right direction.”
The complex will include a picnic pavilion, BBQ grills, a swimming pool and outdoor screened lanai. Construction is expected to begin Summer 2024.