$63M affordable housing complex breaks ground in Naples

A $63 million affordable housing community broke ground Wednesday in Naples. Ekos Creekside is a project by Miami-based affordable housing developer McDowell Housing Partners. It is the first development in Collier County to be delivered under Florida’s Live Local Act, according to a statement.

At 6360 Collier Blvd., Ekos Creekside will consist of 160 apartments in a seven-story residential building as well as an amenitized clubhouse. The community will be available to seniors in households making 30 to 80% of the area median income.

“With 160 apartments for working families, in a prime location along the Tamiami Trail corridor, and with rents more than 30% below market, Ekos Creekside is our fourth affordable housing development in Naples, and our most impactful,” McDowell Housing Partners President Christopher Shear says in a statement. 

“We are investing in the long-term prosperity of Collier County by ensuring our vital workforce has quality, affordable homes,” Shear says. “Ekos Creekside is a commitment to the workforce that keeps Collier County running, offering stability to the families driving our local economy.”

The residential building will include 98 one-bedroom, 48 two-bedroom, and 14 three-bedroom units, with floor plans ranging from 767 to 1,287 square feet. Apartments will have stainless steel appliance packages, granite countertops, kitchen islands, tile backsplashes, walk-in closets and washers and dryers.

There will also be an outdoor pool with grilling stations, a fitness center, business center with computer stations a multipurpose clubroom with kitchenette and media area.

Naples-based DeAngelis Diamond is the general contractor. FK Architecture of Maitland is the architect, while Davidson Engineering of Naples is the civil engineer. 

"Affordable housing is one of the most pressing needs facing communities across Florida, and Collier County is no exception.” DeAngelis Diamond President Reggie Morgan says in the statement. “As Naples natives, we understand firsthand the challenges families and workers face in finding quality, attainable housing in this market. Through intensive collaboration and innovative solutions, we are proud to partner with McDowell Housing Partners to help address that need and make a lasting difference right in our own backyard.”

Through its Workforce Housing Land Acquisition Surtax Fund, Collier County secured the land for Ekos Creekside, according to the statement. The county purchased the site in 2024 for $3.75 million, Collier County property records show. To ensure Ekos Creekside remains affordable in perpetuity, the county entered into a long-term ground lease with McDowell Housing Partners.

Financing for the project comes through public-private partnerships that include a State Apartment Incentive Loan and tax-exempt bonds from the Florida Housing Finance Corporation, according to the statement. Fifth Third Bank provided the construction loan, while Barings LLC, a global investment management firm owned by Mutual Life Insurance Co., is providing the permanent financing. McDowell Housing Partners raised equity for the development.

Developers expect Ekos Creekside will be completed in the second quarter of 2027.

McDowell Housing Partners has secured competitive funding for 22 new affordable communities, providing more than 3,100 units across Florida and Texas. Other complexes it has developed in Naples include Ekos on Santa Barbara, Ekos Cadenza I and Ekos Cadenza II.