Groundbreaking scheduled for 10:30 a.m. ONOct. 2,apartments reserved for low-income households
McDowell Housing Partners has broken ground on Ekos at Rockledge Park, a $38.2 million affordable housing development that will bring 100 apartment homes to Rockledge in Brevard County. The five-story community, located at 1505 Cogswell Street, is being developed by Miami-based McDowell Housing Partners and represents the company’s 18th affordable housing project to begin construction in Florida since 2019.
Ekos at Rockledge Park is a $38.2 million affordable housing development that will bring 100 apartment homes to Rockledge in Brevard County.
BREVARD COUNTY • ROCKLEDGE, FLORIDA — McDowell Housing Partners has broken ground on Ekos at Rockledge Park, a $38.2 million affordable housing development that will bring 100 apartment homes to Rockledge in Brevard County.
The five-story community, located at 1505 Cogswell Street, is being developed by Miami-based McDowell Housing Partners and represents the company’s 18th affordable housing project to begin construction in Florida since 2019.
It is also MHP’s first development in Brevard County.
The project is designed to provide housing for households earning between 30% and 70% of the area median income, including apartments reserved for extremely low-income households.
A groundbreaking ceremony is scheduled for 10:30 a.m. Friday, Oct. 2, and is expected to include Rockledge Mayor Thomas J. Price, Deputy Mayor and Vice Chair Frank T. Forester, and council members Michael A. Cadore Sr., R. Shaun Ferguson, Sammie Brown Martin, Duane A. Daski and Tara L. Connor, along with representatives from McDowell Housing Partners.
100 Affordable Apartments
Ekos at Rockledge Park will contain 100 apartments in a single five-story residential building, with an internal clubhouse and resident amenities.
The apartment mix will include:
• 70 one-bedroom apartments
• 25 two-bedroom apartments
• Five three-bedroom apartments
Units will range from approximately 671 to 1,162 square feet. According to MHP, apartments will feature full-size stainless-steel appliances, granite countertops, modern cabinetry, luxury vinyl tile flooring, balconies, and washer-and-dryer hookups.
The development will serve several income levels. Fifteen percent of the apartments — 15 units — will be reserved for households earning up to 30% of AMI. Another 40 units will serve households at 60% of AMI, while the remaining 45 units will serve households at 70% of AMI.
The income distribution is intended to provide housing options across multiple levels of affordability within the same community.
Resident Amenities
The development will include an internal clubhouse containing on-site property management offices, a fitness center, a media and business center with computer stations, and a multipurpose clubroom equipped with a kitchenette and game tables.
Other planned amenities include a mailroom, package lockers, community laundry facilities, and an outdoor shaded pavilion with seating.
MHP also said the development will incorporate energy-efficiency measures designed to reduce residents’ utility consumption.
Ekos at Rockledge Park is planned to achieve certification under the National Green Building Standard. Apartments will include Energy Star-rated appliances, low-flow plumbing fixtures, impact-resistant windows and LED lighting, among other efficiency features.
Public and Private Financing
The $38.2 million development is being financed through a combination of tax-exempt bonds, $10 million in Community Development Block Grant-Disaster Recovery (CDBG-DR) funds and 4% noncompetitive Low-Income Housing Tax Credits (LIHTC), according to MHP.
The Florida Housing Finance Corporation issued the financing.
Bank of America is serving as the project’s tax-credit investor and construction lender, while Cedar Rapids Bank & Trust is providing long-term permanent financing.
The use of CDBG-DR funding places the project within a broader public financing framework for housing and recovery-related development, while the LIHTC program is a primary federal mechanism for financing the construction and preservation of affordable rental housing.
First Brevard County project for MHP
Ekos at Rockledge Park expands McDowell Housing Partners’ affordable housing activity beyond the company’s existing Florida projects and marks its entry into Brevard County.
MHP said the Rockledge development is its 18th affordable housing project to start construction in Florida since 2019.
Construction is expected to continue through 2027, with completion currently anticipated during the first quarter of 2028.
Once completed, Ekos at Rockledge Park will add 100 income-restricted rental homes to the Rockledge housing market, with units serving households across the 30% to 70% AMI range.
