McDowell Housing Partners To Build $65 Million Affordable Senior Housing

McDowell Housing Partners (MHP) announced the financial closing and construction commencement of Ekos at Pembroke Park, a 150-unit affordable senior housing community in Pembroke Park.

As the developer continues expanding its footprint across Florida, Ekos at Pembroke Park represents Miami-based McDowell Housing Partners’ 16^th affordable housing project to start construction in the state of Florida, and its second development in Broward County.  The closing comes on the heels of McDowell’s near completion of Douglas Gardens Senior Health and Living, a 410-unit, new community in Pembroke Pines that serves as the largest affordable living development for seniors in Broward County, providing desperately needed senior housing for households making between 30-100% of the Area Median Income. Ekos at Pembroke Park is the first Live Local development in the Town of Pembroke Park.

“Ekos at Pembroke Park is our second affordable community in Broward County with 150 apartments for seniors that will also provide direct access to supportive services to help residents thrive and age in place with dignity,” said Patrick McDowell, Chairman & CEO of McDowell Housing Partners.  “Ekos at Pembroke Park is a truly affordable housing development that will alleviate Florida’s affordable housing shortfall.”

Located at 5595 SW 41st Street, Ekos at Pembroke Park will deliver 150 well-appointed one-bedroom units ranging from 657 to 680 square feet within a 10-story residential building. Ekos at Pembroke Park will provide desperately needed housing options to Broward County’s seniors earning up to 80% of the Area Median Income (AMI).  The homes will feature kitchens with stainless steel appliance packages, granite countertops, tile backsplashes, Energy Star ceiling fans with lighting in bedrooms and living rooms in all units.

Ekos at Pembroke Park will be a certified Silver level under the Florida Green Building Council’s program. Each spacious apartment will offer many energy efficiency features, including Energy Star-rated appliances, low-flow plumbing fixtures, LED lighting, and more.

Resident amenities will include an on-site management office, clubroom, fitness, package lockers, and bike storage.  In addition, the community will feature six EV car charging stations.

A commercial space will be leased to the nonprofit organization Area Agency on Aging of Broward County, which will house an office on-site to offer supportive services to older adult residents, age 60 or older.

Financing for the $64.68 million development was made possible by an issuance of tax-exempt bonds and subordinate HOME – ARP loan from the Housing Finance Authority of Broward County; a subordinate Live Local State Apartment Incentive Loan (SAIL) from the Florida Housing Finance Corp.; LIHTC equity from Us Bank; and senior construction and permanent loans from R4 Capital.

The project team for Ekos at Pembroke Park includes JWR Construction as the general contractor, Reprtwar as the architect of record, and HSQ Group as the civil engineer.  Ekos at Pembroke Park is expected to be completed in the summer of 2027.