The Verandas opens in Punta Gorda

Rebirth of affordable housing following Hurricane Charley’s destruction in 2004

PUNTA GORDA, Fla. (April 12, 2017) – More than 100 residents, city leaders and government officials attended the ribbon cutting ceremony of The Verandas Senior Apartment Homes this week.

Dr. Harry Agabedis, Loraine Helber, Ron Monk, Pat Oliva & Steve Fabian

This is the Punta Gorda Housing Authority’s newest affordable senior housing development, following the destruction of its units by Hurricane Charley 13 years ago.

Special guests included officials from partnering agencies including the City of Punta Gorda, Charlotte County, U.S. Department of Housing and Urban Development, Florida Housing Finance Corporation, Norstar Development USA, Bank of America, Banc of America Community Development Cooperation and the PGHA.

Situated at the corner of Airport Road and Cooper Street, The Verandas consists of two phases with 120 senior units of affordable housing, which are 100 percent occupied and were leased within 60 days. Its amenities include a dining room with full kitchen and screened outdoor lanai, resident library/reading room, executive boardroom, fitness center, billiards and a craft room.

Funding for the $25 million project was provided through $3.55 million in insurance proceeds, RHF funds, other housing funds and $170,000 in SHIP funds committed by Charlotte County. Florida Housing Finance Corporation also allocated nine percent low-income housing tax credits for PHA Revitalization of Affordable Housing Developments, and Bank of America provided a $14 million loan for construction.

The Verandas has received the Florida Green Home Certification, which creates socially sustainable affordable housing and integrates Universal Design principals. The buildings’ design is based on Spanish revival to further meld the project into the Punta Gorda community.

The Verandas was developed by Norstar Development USA and is managed by Norstar Accolade Property Management. The development team includes RDI Architects, Banks Engineering and Brooks & Freund.

For more information, call 941-639-4344 or visit www.puntagordaha.org.