A new affordable housing community nearly 10 years in the making officially opened its doors Aug. 18 in St. Johns County, one of Florida’s fastest-growing regions.
Village of New Augustine, a $26.5 million project years in the making, celebrated its ribbon-cutting this week as leasing continues for units serving households earning up to 60% of area median income.
Representatives from Jacksonville-based nonprofit Ability Housing joined leaders from St. Johns County, the city of St. Augustine, the West Augustine Community Development Corporation, Bank of America and the National Equity Fund to celebrate the new apartment community at 280 N. Volusia Street.
What is the Village of New Augustine?
The Village of New Augustine is a newly completed, affordable rental housing development built specifically for working families who can’t afford market-rate rent in St. Johns County.
It’s the first St. Augustine project for Ability Housing, a nonprofit multifamily developer with properties across Florida.
The community includes four three-story residential buildings with a mix of unit sizes: 20 one-bedroom apartments, 36 two-bedroom apartments and 36 three-bedroom apartments. Seven units include design features that meet ADA accessibility standards.
Beyond housing, the property offers a gym, a community center with on-site leasing offices, a computer lab, a library, flexible event and workshop space, a pavilion, a walking trail and surface parking.
Who qualifies for the affordable apartments, and how much does rent cost?
All 92 units are reserved for households earning up to 60% of the Area Median Income, a threshold calculated annually by the U.S. Department of Housing and Urban Development. Actual eligibility and rent amounts depend on household size and income.
Rent currently ranges from about $634 a month for a one-bedroom apartment up to $1,599 a month for a three-bedroom apartment, though exact pricing varies by unit and household.
Village of New Augustine is actively leasing.
How long has Village of New Augustine been in development?
The West Augustine Historical Community Development Corporation first approached Ability Housing about partnering on an apartment community to address a shortage of housing options for working families in the neighborhood in 2018.
That partnership took nearly eight years to move from concept to completed, leased apartments.
“This development is the product of a vision for a better West St. Augustine – a community where people have quality, affordable housing options that lead to long-term stability and a place to call home,” said Reggie Fullwood, CEO of Ability Housing, in a news release.
How was Village of New Augustine funded?
The development drew on a mix of state, local and private financing sources, including $4,265,345 in affordable housing loan financing from the Florida Housing Finance Corporation.
The project also had funding in the form of $1.625 million in Low Income Housing Tax Credits; a $14,227,317 construction loan from Bank of America; a $5.37 million permanent mortgage provided by Churchill Stateside Group after construction; and $460,000 Affordable Housing Grant from the St. Johns County Board of County Commissioners, among other sources.
County policy also played a role when the St. Johns County Board of County Commissioners passed an ordinance in 2022 that allowed developers to defer impact fees, which lowered upfront costs for the project during a period of rising material, labor and capital costs.
What services are available to residents at Village of New Augustine?
Ability Housing pairs its developments with voluntary programs meant to help residents build long-term stability.
At the Village of New Augustine, the organization plans to work with community partners to offer free programs in adult literacy, employment assistance and personal finance.
“As the county’s population continues to grow, the Village of New Augustine serves as an exemplary model for development that balances immediate, individual needs with sustainable support,” said Joe Cone, Assistant Director for Health and Human Services of St. Johns County, in a news release. “Families moving into this community are surrounded by people and organizations ready to help connect them with tools, programs and resources — an approach that maximizes the positive impact of public investment.”
How do I apply for housing at Village of New Augustine?
For leasing details and eligibility information, visit VillagesNewAugustine.org.
For more on Ability Housing’s broader work developing affordable housing across Florida, visit AbilityHousing.org.
This article originally appeared on Florida Times-Union: New 92-unit affordable apartment community opens in St. Augustine
Reporting by Alexandria Mansfield, Jacksonville Florida Times-Union / Florida Times-Union
USA TODAY Network via Reuters Connect
By Alexandria Mansfield, Jacksonville Florida Times-Union | USA TODAY Network
