Avery Place

More affordable housing for working families in Pensacola is on the horizon with the development of Avery Place. Its convenient location of the site of the former Baptist Hospital will include 112 one-, two-, three-, and four-bedroom apartments for individuals making 30% to 80% of the Area Media Income. Avery Place apartments will feature modern design tailored to families along with energy-efficient appliances and fixtures and many other amenities.

Completion of Avery Place is estimated to be in 2027. This approximately $39.1 million affordable housing development is financed through a combination of federal Low-Income Housing Tax Credit equity, permanent financing, and public funding sources. Key contributors include federal CDBG-DR funds, magnet funds, and a sales tax rebate, supporting long-term affordability while keeping permanent debt at a sustainable level. Construction is supported by approximately $22.0 million in construction loan funding during the build period.