Arbours at Fort King presented the Arbour Valley Communities team with many exciting challenges. Coming on the heels of the 2008 financial crisis, there was a tremendous need for affordable housing, but very limited financing opportunities. The east Pasco County region was especially hard-hit, and AV searched hard for an opportunity to bring affordable housing to the area – eventually finding a very well-located site near the area hospital and school.
Arbour Valley Communities successfully worked through the challenging tax credit application and approval process, while simultaneously assisting the property owner and their lender through post-2008 difficulties. Using a variety of programs, including tax credits, the Tax Credit Exchange Program, Brownfield Designation/Remediation, Florida Sales Tax Affordable Housing incentives, and FHA 221(d)(4) new construction financing, Arbour Valley was able to develop this garden-style apartment community on time and on budget. Arbours at Fort King brought the first new affordable housing to the community in decades, and brought along with it on-site programs, including Arbour Valley Management’s after-school “Read and Feed” program that provides snacks and homework assistance; adult computer literacy; and other community-building programs.
Arbour Valley Construction was involved in all aspects of construction management, materials selections, architectural design, civil engineering, construction contracting and timeline management.
Arbour Valley Management, which leases and manages the Arbours at Fort King, maintains the community to the highest standards.