ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
A proposed $80 million senior housing development in downtown Orlando may receive a major financial boost from the city and its redevelopment agency — a move which could help address growing demand for affordable housing among older residents.
Banyan Development Group, an affiliate of Orlando-based AGPM LLC, is seeking $10 million in funding from the city of Orlando and its Community Redevelopment Agency to support the construction of Mariposa Grove, a 12-story mixed-use project on roughly 0.7 acres at 417 E. Jackson St., according to city documents.
The development would include 138 senior mixed-income housing units, 10,000 square feet of retail space and a 120-space parking garage. The move comes as Orlando’s Community Redevelopment Agency seeks to draw more people to live downtown so that more retail and restaurants will open.
Click here to read the full story on the Orlando Business Journal’s website.
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