Auburn Trace

Future Renovation to be Named Village at the Park

Owner Auburn Trace, Ltd.
Developer Florida Affordable Housing Inc. (FAHI), now developing new properties as Auburn Development, LLC
Site 37 acres
Number of Units 256 multi-family rentals plus a 7,500 sq. ft. child care center on 37 acres (7 units per acre)
Completion 1990
Approximate Cost $16,000,000

Florida Affordable Housing Inc. (FAHI) developed this 256-unit, affordable housing development for low- to moderate-income households in Delray Beach, Fla. FAHI arranged all financing for this development, including a$1,765,000 State Apartment Incentive Loan (SAIL) from the Florida Housing Finance Agency; $5,840,000 Urban Development Action Grant from the United States Department of Housing and Urban Development (HUD);$200,000 grant from the City of Delray Beach; and a $1,488,000 loan from the City of Delray Beach at zero percent interest for 15 years.

Award Winning Development
Auburn Trace won the National Builders Association Award as the "Best Affordable Multifamily Project" in the Pillars of the Industry Awards national competition.