Janie's Garden Phase I & II
SHA and its developer Michael’s Development has redeveloped the first two phases of the distressed Janie Poe public housing site into what is now known as Janie’s Garden (Phase I & II).
Janie’s Garden Phase III has been awarded Low Income Housing Tax Credits through the Florida Housing Finance Corporation, with demolition of the last remaining Janie Poe units underway and vertical construction to begin this year.
Janie’s Garden Phases I, II & III are a significant public/private partnership among SHA, Michaels, the City of Sarasota, Sarasota County and others.
Janie’s Garden Phase I was financed through equity from the sale of 9% LIHTC (sold to investors for equity) and other funding from the Florida Housing Finance Corporation, local funding from the City of Sarasota and Sarasota County, The Federal Home Loan Bank of Chicago, and conventional financing through Chase and The Bank of Commerce.
Phase II began in September 2010 and was financed through two separate HUD stimulus competitive grants totaling $5 million, local funding from the City of Sarasota and Sarasota County, 4% LIHTC (sold to investors for equity) from the Florida Housing Finance Corporation and private activity bond proceeds.
Janie's Garden Phase I:
- Awarded the Gold Medal by the National Association of Home Builders’ Best in American Living Awards, for Best Community Design in 2012.
- 86 mixed-income apartments (26 Public Housing Apartments, 40 Low-Income Housing Tax Credit Apartments, and 20 Market Rate apartments) with modern amenities such as central air, Energy Star appliances, low VOC building materials, etc.
- A LEED (Leadership in Energy & Environmental Design) Certified Silver Property Management and Resident Services building (pictured above) with a library, computer lab, exercise facility, laundry equipment, and community meeting space.
Janie’s Garden Phase II:
- 68 affordable apartments (21 public housing, 14 Section 8 PBV, 33 Low-Income Housing Tax Credit) with modern amenities such as central air, Energy Star appliances, low VOC building materials, etc.
- A commercial retail component called the Marketplace at Janie’s Garden, consisting of 10,500 sq. feet of retail space.
Janie’s Garden Phase III:
- 72 apartments including a mix of market rate, LIHTC and public housing units.