Firm provides financing for 84-unit affordable housing development

SARASOTA — Capita and financing firm Walker & Dunlop Inc. has structured $5.2 million in permanent financing for Amaryllis Park Place, a 62-plus, age-restricted, 84-unit affordable housing development in Sarasota.

The project will be constructed using 9% Low Income Housing Tax Credits, according to a press release.

Amaryllis Park Place, a three-story garden-style apartment building, will have community amenities including a business center, community room, fitness center, picnic areas and laundry facilities. In conjunction with the 9% Low Income Housing Tax Credits equity provided, the borrower will enter into a 15-year term HAP Contract with the Sarasota Housing Authority at construction closing, providing Project-Based vouchers for 42, or 50%, of all units at the site.