Golden Gate Golf Course to Transform into 252-Unit Affordable Housing Development
Collier County is making significant strides toward addressing its affordable housing crisis with the recent approval of $10 million in funding for a new workforce housing project at the former Golden Gate Golf Course. The Board of County Commissioners unanimously voted on August 13, 2024, to allocate over $8.9 million for pre-development and construction costs and an additional $1.13 million to support impact fees for the project, known as Renaissance Hall at Old Course.
Project Overview
This ambitious development, spearheaded by Rural Neighborhoods, will consist of 252 rental apartments aimed at essential service workers, including government employees, healthcare professionals, and educators. The project is designed to provide affordable housing options in a region where nearly 50,000 households are considered cost-burdened, spending more than 30% of their income on housing.
Funding Sources
The funding for this project is part of the American Rescue Plan, which allocated $900 billion in relief funds for state and local governments. Collier County received $74.76 million from this fund, allowing for significant investments in local projects. The recent $10 million allocation includes a $100,000 increase due to the availability of previously unallocated fees.
Construction Timeline
With funding now secured, construction is expected to begin in fall 2024 and will take approximately two years to complete. The development will feature nine buildings and a clubhouse, all situated on about 22 acres of the golf course property, which the county purchased for $29.1 million in 2019 to prevent overdevelopment.
Rental Rates
Rent for the new apartments will be set at 80-120% of the Area Median Income (AMI), which is currently $104,300. Expected rental prices range from $872 for a one-bedroom unit to $2,414 for a three-bedroom unit, making it a viable option for many local workers.
Future Plans
In addition to the workforce housing, plans for the Golden Gate Golf Course site include a veterans nursing home and a redesigned public-private golf course, further enhancing the community’s offerings.
Rural Neighborhoods has also secured additional financial commitments for the project, including $2 million from a U.S. HUD Community Project Grant and $1.5 million from the State Housing Initiatives Partnership (SHIP).
This project represents a crucial step in addressing the housing needs of Collier County and is expected to significantly impact the local community by providing affordable living options for essential workers.