McDowell Housing Partners Begins Construction on 100-Unit Affordable Housing Community in Rockledge

McDowell Housing Partners (MHP) has broken ground on Ekos at Rockledge Park, a $38.2 million affordable housing development located at 1505 Cogswell Street in Rockledge, Florida. This five-story residential building will feature 100 apartments designed for households earning 30 to 70 percent of the Area Median Income (AMI). The project, which held its groundbreaking ceremony on October 6, 2026, marks MHP's first venture in Brevard County and its 18th affordable housing start in Florida since 2019.

The development will offer a mix of 70 one-bedroom, 25 two-bedroom, and five three-bedroom units, ranging from 671 to 1,162 square feet. Fifteen percent of the units are reserved for extremely low-income households (30% AMI), 40 percent for 60% AMI, and 45 percent for 70% AMI. Residential interiors will include full-size stainless steel appliances, granite countertops, and luxury vinyl tile flooring.

Amenities will center around a clubhouse with management offices, a fitness center, and a business center. The building aims for National Green Building Standard certification, incorporating energy-efficient features like ENERGY STAR appliances and LED lighting to reduce utility costs.

Financing for Ekos at Rockledge Park includes tax-exempt bonds, $10 million in Community Development Block Grant Disaster Recovery (CDBG-DR) funding, and 4% noncompetitive Low-Income Housing Tax Credits (LIHTC), administered by the Florida Housing Finance Corporation. Bank of America is providing construction lending and serving as the tax-credit investor, with Cedar Rapids Bank & Trust offering permanent financing. Completion is anticipated in the first quarter of 2028. This project illustrates the continued use of public-private partnerships to address affordable housing needs.