Brooksville City Council declined to contribute $20,000 at this time to the development of an affordable housing complex located in South Brooksville. After discussion on December 19, 2022, the Council agreed they would reconsider the local government match in the form of a loan rather than a grant.
The complex, referred to as Brookstone, after its parent company, is planned for the 14.4-acre property located on the south side of Daniel Avenue, bordered by South Mildred Avenue to the west. The eastern border, at its widest point, is along Hale Avenue. The narrow southernmost end is at the north side of West Dr. Martin Luther King Jr. Boulevard (MLK).
Sam Bick, Senior Development Manager with LDG Development, said that the latest proposed name for the complex is The Apex since it is to be built at a high point in Brooksville, at an elevation of 128 feet.
LDG is seeking local government contributions to fill an approximate $500,000 funding gap. Currently, the request is not necessary to apply for Florida Housing Finance Corporation tax credits and multifamily mortgage revenue bonds. Principals of the project have reportedly contributed $3.6 million.
The Hernando County Board of County Commissioners recently approved a $20,000 contribution in the form of a grant.
Council members agreed to decline the contribution based on current information. Bick and LDG are expected to return to the Council in January to discuss a loan option.
The complex is expected to provide 216 units consisting of one, two, and three bedrooms between eight three-story garden-style buildings. Construction is expected to be completed in December 2025.
