NRP Group Breaks Ground on 88-Unit Affordable Housing Community in Kissimmee Florida

The NRP Group announced the financial closing and groundbreaking of Alora Lofts, an 88-unit affordable housing community in Kissimmee, Florida, located 18 miles south of Orlando. According to the release, the development will serve individuals and families earning between 30% and 70% of the Area Median Income.

Bill Zunamon, Vice President of Development at The NRP Group, stated, "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. 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."

The company reports that Alora Lofts is a single, 4-story building situated on a 4.49-acre site at 1300 Windsor Drive along the John Young Parkway corridor. The development features a mix of 1 to 3 bedroom apartments.

The property is positioned less than 1 mile from multiple LYNX bus stops along North John Young Parkway. Nearby amenities include Publix, Publix Pharmacy, and Highland Elementary School.

FK Architecture designed the community, which incorporates a concrete construction system intended to address Florida's weather conditions and hurricane risk profile, according to the release.

Planned amenities include a fitness center, outdoor swimming pool, multipurpose room and community kitchen, outdoor grill area, and tot lot.

Financial partners for the development include the Florida Housing Finance Corporation, which provided housing tax credits, tax-exempt bonds, and Community Development Block Grant-Disaster Recovery funding administered through the U.S. Department of Housing and Urban Development. The company reports that disaster recovery funding was allocated in response to Hurricane Ian. Additional financing partners include Truist and Grandbridge.

The NRP Group reports it has developed more than 68,000 apartment homes nationwide since 1994 and currently manages over 33,000 residential units across the U.S. In Florida, the company owns and manages over 1,700 apartment homes statewide.

Construction is underway, with completion scheduled for December 2027.