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Trinity Towers South

615 East New Haven Avenue
Melbourne, FL
Deal Type: 
Preservation Acquisition
Year Built: 
1982
Acquisition Date: 
2013
Number of Units: 
162
Tenancy: 
Senior

POAH acquired Trinity Towers South, a 162 unit, 4 story, mid-rise property that serves seniors in Melbourne, FL, in 2013 from the Holy Trinity Episcopal Church.  Built in 1981, Trinity Towers South was financed with a HUD 223(f) insured loan at the time.  Acquisition financing was based on an assumption of this existing FHA insured 223(f) loan.  Trinity Towers South serves frail seniors; the property was developed as a Section 202/8 property with extensive amenities usually associated with congregate living facilities including a central kitchen that provides meals for the residents.  Resident services will continue to be a major feature of the property into the future. 

POAH intends to undertake a thorough rehabilitation of the properties in the future through use of Florida's tax credit program.

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