College Trace (Pensacola, Florida)

College Trace Apartments is a garden style 112-unit Project-Based Section 8 HAP Contract property located in Pensacola, Florida. Of the 112 units, there are 42 one-bedroom units, 58 two-bedroom units and 11 three-bedroom units. On site amenities include a business center, community wifi, on-site laundry facilities and a community recreational building that includes a full size basketball court.

Omni Affordable Florida, LLC an affiliate of SBV, acquired College Trace Apartments in October 2021. OAF closed on the syndication for College Trace Aparmtnets in November 2022 and has begin renovations on the project in December 2022. The financing of the project includes $16.4 million in Freddie TEL loan proceeds and $10.5 million in Low Income Housing Tax Credit ("LIHTC") equity. The project will be subject to regulation in accordance with the LIHTC program and will maintain affordability.