All the financing resources you need under one roof

First Housing mobilizes capital to finance multifamily housing in the state of Florida and beyond.


Learn moreArrow

Place your confidence in first housing.

We provide easy and reliable tenant compliance monitoring and top notch training. Complying with public agencies' multifamily housing requirements isn't always easy, but it is familiar territory for First Housing.


Learn moreArrow

Manage the financing process with intelligence and ease.

We help lenders and investors make sound decisions by proving underwriting, financial analysis, servicing and loan administration services.


Learn moreArrow

First Housing University

Dedicated to enhancing knowledge of affordable property compliance with web courses, workshops, workshops, and personalized training.


Learn moreArrow

First Housing Originates $60.9 Million in Construction Financing for Pearl Apartments

Posted on: December 13th, 2016 by Anne Gehlsen No Comments

the-pearl-rendering
December 1, 2016 – First Housing Development Corp. originated and closed $60,890,000 in permanent, fixed-rate debt through its HUD/FHA program for the construction of Pearl Apartments, a 314-unit apartment community in Tampa, FL. The loan features a 40-year term and 40-year amortization with a fixed interest rate of 3.54 percent. Pearl Apartments will include three residential buildings of four and seven stories with a central parking structure. Units will have one to three bedrooms and average 1,010 square feet in size.  The three apartment buildings will also include 28,500 square feet of retail space on the ground floor.  The first move-ins are slated for January 2018.

Pearl Apartments is to be incorporated into the Developers’ overall plan of an $820 million mixed-use development on the Tampa Heights waterfront. The Heights will include the revitalization of Armature Works, which is slated to house a market hall, event space and restaurants.  There will also be an expansion of the Tampa Riverwalk and Atlantic Beer & Oyster, a waterfront restaurant.

Pearl Apartments is a joint venture between SoHo Capital and Tampa-based DDA Development.

Batson-Cook and EWI Construction are the general contractors on the project.

Senior Vice Presidents Ed Busansky and Scott Moreman originated the loan for First Housing.

Ed Busansky, SVP       ebusansky@firsthousingfl.com    (813) 283-1043
Scott Moreman, SVP    smoreman@firsthousingfl.com     (813) 283-1045


Leave a Reply

© Copyright 2018 First Housing FL. All rights reserved. 107 S. Willow Ave. | Tampa, FL 33606 | mail@firsthousingfl.com | Privacy Policy