Emerald Place (Titusville, Florida)

Emerald Place Apartments is a 136 unit multi-family project located in Titusville, Florida. The property consists of 16 two-story garden style residential buildings and one office building containing 136 units (24 one bedroom, 104 two bedroom, and 8 three bedroom). Forty-two of the units at Emerald are covered by a Project Based Section-8 Housing Assistance Payments contract.

Omni Affordable Florida, LLC an affiliate of SBV, acquired Emerald Place on October 12, 2022 and plans to rehabilitate and re-enroll the Project in the low income housing tax credit program in Q2 of 2024. Financing is anticipated to consist of approximately $15 million of tax-exempt bonds issued by the Florida Housing Finance Corporation, approximately $7.9 million of equity generated by the syndication of 4% as-of right LIHTCs.