Groundbreaking affordable housing project set to reshape New Smyrna Beach

Written by Kristen Schmutz

Belden Communications News

In a significant milestone for affordable housing initiatives in New Smyrna Beach, the Greenlawn Manor Apartments project, which will be complete in early 2024, is poised to provide 80 affordable housing units exclusively designed for seniors in need, at 911 Oleander Street, will be in the heart of the city's Historic Westside neighborhood.

With a budget of $23 million, this development, funded in part by the U.S. Department of Housing and Urban Development Low Income Housing Tax Credit, is set to become the most substantial affordable housing contribution in the city's history.

The Greenlawn Manor Apartments project promises to be a beacon of hope for senior citizens seeking affordable housing solutions in New Smyrna Beach, with these 80 units being a testament to the city's commitment to addressing the pressing issue of housing affordability, offering a lifeline to seniors in their golden years.

According to a release, the $23 million development, funded by a U.S. Department of Housing and Urban Development Low Income Housing Tax Credit, represents the hugest affordable housing boost in city history, itself nearly matching the 91 units built since the New Smyrna Beach Housing Authority was established, in 1950.

In a recent development, New Smyrna Beach city commissioners took a decisive step on August 22 by approving a financial commitment of $460,000 in Community Redevelopment Agency funds. This financial backing will secure an impressive $20 million Florida Housing Finance Corporation Low Income Housing Tax Credit.

This additional funding, in conjunction with support from other sources such as Volusia County's State Housing Initiatives Program, will play a pivotal role in facilitating the construction of a proposed $27 million second-phase multifamily project earmarked for 500 Brooks Street, bringing an additional 72 affordable housing units to the community.