Financing Secured for Affordable Senior Housing in Gainesville, Florida

August 28, 2025 - 17:46

Financing has been successfully arranged for the construction of an affordable senior housing community in Gainesville, Florida. A significant contribution comes from KeyBank Community Development Lending and Investment, which is providing a $13 million construction loan for the Hawthorne Heights project. This development is set to comprise 86 units and is spearheaded by the nonprofit organization National CORE, which focuses on creating affordable housing solutions.

In addition to the construction financing, KeyBank Commercial Mortgage Group has facilitated a permanent loan of $6.53 million through Freddie Mac. This financial backing is crucial for the project, which aims to address the growing need for affordable housing options for seniors in the area.

The Hawthorne Heights community is expected to enhance the quality of life for its residents by providing accessible and affordable living spaces, thereby contributing positively to the local community. Completion of the project is anticipated to make a significant impact on the housing landscape for seniors in Gainesville.