Hope VI

The Daytona Beach Housing Authority has been awarded two HOPE VI Revitalization Grants by HUD.

The first grant was awarded in 2002 for the revitalization of Bethune Villages and Halifax Park. This grant totaled $17,242,383.00.

The second grant was awarded in 2003 for the Revitalization of The Martin Luther King, Jr. Apartments. This grant totaled $7,639,191.00.

DBHA and its co-developer, Picerne affordable Developers from Altamonte Springs, FL applied for, and received, Low Income Housing Tax Credits to assist in the costs of rebuilding the buildings that were demolished on the sites. These tax credits provided approximately $25,000,000.00.

Approvals have been obtained and construction is underway on all three sites. The three new developments will be privately managed by Picerne Management.

Halifax Park, renamed the Villages at Halifax, will contain a total of 71 new apartments. 31 will be operated as public housing units under contract with HUD and 40 as tax credit units. 50 of the units contained in 2 two-story apartment buildings are targeted for the elderly. 21 town-home style units are for families. Construction is expected to be completed in July of 2007

The Martin Luther King, Jr. Apartments, renamed Lakeside Villages, will contain a total of 103 new apartments, 50 will be operated as public housing units under contract with HUD and 53 as tax credit units. Construction is expected to be completed in December of 2007.

Bethune Village, renamed Pine Haven, will contain 136 rental units. 63 will be operated as public housing units under contract with HUD, 73 will be operated as tax credit units. Construction is expected to be completed in December of 2008.

Homeownership units will be constructed on all three sites as well. Final plans for the number of homes on each site are still being developed, but the total number is expected to exceed 120 single family detached homes. These homes will be developed outside of the terms of the HOPE VI grants.