The eight-story project breaks ground April 24.
"Senior housing needs have not been well-addressed with new development in South Florida," Patrick Martin, Related's executive vice president, says in a prepared statement. He calls the Meridian project "an excellent investment that may help jump-start a renewal in this important but underserved housing sector in South Florida."
Related is providing a $4.4 million equity investment for the tax credits generated by the Meridian. Charter Mac, a Related-managed company, is coming up with $8.6 million in bonds issued to the project by Broward County.
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