City

City approves $460K loan for 96-unit affordable housing project in northeast Gainesville

Gainesville city commissioners voted unanimously Thursday to approve a $460,000 loan from the city’s ConnectFree grant program to support a proposed affordable housing development in northeast Gainesville. The project, called Hope at Debra Heights, would construct 96 apartments across four three-story buildings on a six-acre property along Northeast Second Street, serving residents earning up to 70% of the area median income. The roughly $31 million development’s local funding contribution is intended to bolster its application for low-income housing tax credits at the state level.

Sources: WCJB TV20