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Two Affordable Housing Developments Break Ground on West Coast of Florida

Lincoln Avenue Capital, which brands itself as a mission-driven acquirer and developer of affordable housing, recently broke ground on the 301 Flats and The Savoy at 301 during a ceremony with County officials and financing partners. There is demand for affordable housing in Florida, and these projects will target families and individuals as well as seniors.

LAC’s first new-construction projects in Florida represent an exciting avenue for the company to continue growing its nationwide portfolio and expanding its impact to communities where families and individuals lack access to affordable homes.

“At Lincoln Avenue Capital, we’re always seeking new and innovative ways to deliver high-quality, affordable housing to communities that need it most,” said LAC Managing Partner Eli Bronfman. “We are thrilled to break ground on the 301 Flats and The Savoy at 301 and grateful to our partners who helped make this a reality.”

Upon completion in 2025, the 301 Flats and The Savoy at 301 will provide 324 units of affordable housing for families and individuals, and 248 units of senior housing, respectively. These quality, affordable homes are critically needed in the North Port-Sarasota-Bradenton metropolitan area, which ranked among the nation’s most expensive mid-size metro areas in 2022.

“LAC is proud to deliver long-term affordability for families, individuals and seniors facing a housing crisis across Florida and here in Manatee County,” said Jordan Richter, LAC Vice President and Project Partner. “As a mission-driven company, we’re deeply committed to helping people put down roots in their communities by expanding access to high-quality homes.”

The 301 Flats and The Savoy at 301 will include community amenities and a range of energy efficiency features, as LAC continues to prioritize sustainability and resiliency measures in its new construction and across its existing portfolio.

Speakers at the event included Manatee County Commissioners Amanda Ballard and George Kruse, and Manatee County Deputy Administrator Courtney De Pol. Following remarks, LAC leaders and local officials formally broke ground on a section of the property.

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