ROCKLEDGE, Fla. — McDowell Housing Partners, a leading affordable housing developer and investment company, has announced the financial closing and commencement of construction for Ekos at Rockledge Park.
This new development will bring 100 affordable housing units to Rockledge, providing much-needed housing options for families earning between 30% and 70% of the Area Median Income (AMI).
Ekos at Rockledge Park is McDowell Housing Partners’ 18th affordable housing project in Florida to begin construction since 2019, marking its first development in Brevard County.
The community is designed to serve households at various income levels, with 15% of units allocated to extremely low-income households at 30% AMI, 40% to households at 60% AMI, and the remaining 45% to households at 70% AMI.
The affordable housing community is located at 1505 Cogswell Street.
It will feature a five-story residential building containing 100 apartment homes. The unit mix includes 70 one-bedroom, 25 two-bedroom, and five three-bedroom units, with sizes ranging from 593 to 1,026 square feet, each equipped with full-size stainless-steel appliances, granite countertops, modern cabinetry, luxury vinyl tile flooring, balconies, and washer/dryer hookups.
Residents will have access to a fully amenitized internal clubhouse with on-site management offices, a state-of-the-art fitness center, a media and business center with computer stations, and a multipurpose clubroom with a kitchenette and game tables. Additional amenities will include a mailroom, package lockers, community washers and dryers, and an outdoor pool with BBQ grilling stations and seating.
Ekos at Rockledge Park is planned as a green building, certified under the National Green Building Standards to help minimize residents’ utility bills. Each apartment will incorporate energy efficiency features such as Energy Star-rated appliances, low-flow plumbing fixtures, impact windows, and LED lighting.
The development’s financing package includes tax-exempt bonds, $10 million in Community Development Block Grant Disaster Recovery (CDBG-DR) funds, and 4% non-competitive Low-Income Housing Tax Credits (LIHTC). These funds were all issued by the Florida Housing Finance Corporation.
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 City of Rockledge, located in the heart of Florida’s Space Coast, offers convenient commuting with major thoroughfares like U.S. Highway 1 and Interstate 95 readily accessible. The community is approximately 45 miles east of Orlando and provides easy access to Cocoa Beach, Port Canaveral and Kennedy Space Center. The region is characterized by a strong demand for housing, fueled by employment in the aerospace, health care and technology sectors.
Ekos at Rockledge Park is projected to be completed in the first quarter of 2028.
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