The NRP Group, a developer, builder and manager of multifamily housing, announced the financial closing and groundbreaking of Alora Lofts, an 88-unit affordable housing community in Kissimmee, Florida, 18 miles south of Orlando.
The community is a four-story building located on a 4.49-acre site and features a mix of one-to three-bedroom apartments designed to accommodate families of varying sizes. Amenities include a fitness center, outdoor resort-style swimming pool, multipurpose room and community kitchen, outdoor grill area and playground.
According to the company, the community is designed for individuals and families earning between 30% and 70% of the Area Median Income (AMI).
“Alora Lofts represents an important step in The NRP Group’s broader affordable housing strategy in Florida at a time where the region is experiencing unprecedented population growth and housing affordability challenges,” said Bill Zunamon, vice president of development at The NRP Group. “What excites us most about this project is the opportunity to bring much-needed affordable housing to a well-located, high-demand neighborhood without compromising on design, quality or residents’ overall experience. This is our first affordable housing project in Florida in over a decade, and we are proud to partner with the city to deliver critical housing for the residents of Kissimmee for generations to come.”
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