T
he Urban League of Broward County is poised to break ground on Village at Oakland Park, a 469-unit affordable housing development in Oakland Park. The project will feature 355 apartments in mid-rise buildings and 114 townhouses west of I-95. The Oakland Park City Commission recently rezoned the 19.7-acre site, allowing for the development's construction.
Eligibility to rent or buy at Village at Oakland Park will extend to a broad range of renters and buyers earning between 30% and 140% of area median income. Median household income in Broward County is $70,331 per year. The Urban League hopes this project will catalyze not only residential development but also business, economic, and community growth in the area.
The site includes vacant land owned by the Urban League, as well as properties held by Harris Chapel Church and the Rock Island Professional Development Center. The Urban League has a contract to acquire the latter property for $5.6 million. No construction will occur on the 4.5-acre church property, but an existing community center may be reconfigured.
Amenities planned for Village at Oakland Park include a linear park, community garden, playground, and mango tree grove. Open space will comprise 7.3 acres, exceeding local minimum requirements. The estimated total cost of the development is $170 million, which the Urban League plans to cover with low-interest loans and philanthropic equity.
After recruiting a co-developer, the Urban League will set below-market rents and townhouse prices. "We have brought it as far as we can," said Germaine Smith-Baugh, president and CEO of the Urban League. "Now we're looking for like-minded entities to consider."
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