NW REGION
$615,000 FCLF loan
Refinancing
74 units of affordable rental housing
Area Housing Commission was created to provide safe, decent, and quality affordable housing and supportive services to those with limited incomes. The vision of AHC includes crafting solutions to the community’s affordable housing dilemma in a holistic manner and turning these solutions into reality. The AHC is a public housing authority entity that has been providing housing to the Escambia County area for over 80 years and currently oversees 570 public housing units and 254 affordable housing units. One of the affordable housing communities owned and operated by AHC is Morris Court II in Pensacola.
With financing from Florida Community Loan Fund, AHC refinanced an existing loan on Morris Court II. Located in the downtown area of Pensacola, near Interstate 10 and U.S. Highway 98, Morris Court II was built in 2008. The apartment community includes seventeen buildings (fifteen residential) with 74 one-, two- and three-bedroom rental apartments. On-site amenities include a fitness center and laundry area, and there is also an office and maintenance shop on the property. The majority of the apartments are available to households with incomes at or below 60% of the area median income (AMI), with the 15% of the units set aside for extremely-low income households with incomes at 35% of AMI. This affordability is ensured for a 50-year period under an agreement with the State.
