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Sarasota Housing Authority Breaks Ground on Two New Affordable Housing Communities
The Sarasota Housing Authority, in partnership with Fortis (a joint venture between Smith Henzy and Calston), will celebrate a historic double groundbreaking on Wednesday, September 17th, 10AM at 1672 21st Street, Sarasota, for two major affordable housing developments: Cypress Square 2 and Lofts on Lemon 2. Together, these communities will bring more than 200 new affordable apartment homes to Sarasota, addressing critical housing needs for residents with incomes ranging from extremely low (30% of Area Median Income) to low income (80% of AMI).
Cypress Square 2 will feature 108 one-, two-, and three-bedroom apartment homes. Financial closing was completed on April 17, and construction is expected to be finished by Summer 2026.
Lofts on Lemon 2 will deliver 100 one-bedroom apartment homes. The project reached financial closing on August 6, with construction scheduled for completion in the third quarter of 2026.
William Russell, CEO of Sarasota Housing Authority, said:
“This double groundbreaking is more than just turning dirt—it’s about turning hope into reality. Cypress Square 2 and Lofts on Lemon 2 will provide safe, high-quality homes for families and individuals who need them most. These communities represent our commitment to ensuring that Sarasota remains a place where everyone, regardless of income, has the opportunity to thrive.”
Both developments are made possible through broad collaboration among public, private, and nonprofit partners, with key funding support from the Florida Housing Finance Corporation, local government partners, and leading financial institutions.
