The Residences at Beverly Park, an affordable housing development in Hollywood, Florida.
NuRock Companies has secured $38.7 million to develop the Residences at Beverly Park, an affordable housing project in Hollywood, Florida. Comprising 115 units, this development aims to address the local affordable housing crisis by offering energy-efficient homes to low- and moderate-income residents. The project will be designed by CFM Architects and will include various amenities such as a swimming pool and gym. Following this project, NuRock plans to launch another housing initiative nearby, continuing their commitment to affordable living solutions in the region.
NuRock Companies has successfully secured a significant funding package of $38.7 million aimed at advancing the construction of the Residences at Beverly Park, a 115-unit affordable housing development based in Hollywood, Florida. The development emphasizes NuRock’s commitment to tackling the ongoing affordable housing crisis in the area.
This funding is being managed by Regions Bank and comprises various components, including a $15.6 million construction loan, a $22.5 million bridge note, and a $772,850 Freddie Mac loan that will mature in 2027. The project also qualified for 9 percent Low-Income Housing Tax Credits (LIHTC), which highlights its purpose of providing housing to low and moderate-income residents. To support this tax credit application, the local government has issued a $640,000 note.
The Residences at Beverly Park are being designed by CFM Architects and will consist of a 10-story building featuring a variety of one- to three-bedroom units. These apartments are expected to target residents earning up to 30%, 60%, and 80% of the area’s median income. Emphasizing sustainability, the units will incorporate energy-efficient features and modern finishes in alignment with the aim for Green Certification.
Future residents can look forward to numerous amenities, which include an elevated swimming pool with a sundeck, a gym, a community room, and structured parking. Furthermore, a dedicated NuRock management team will be in place to provide supportive services and to organize various community events that will enhance the living experience for residents.
The project is situated at 6017 Washington Street, approximately 19 miles north of downtown Miami and about 15 miles southeast of Fort Lauderdale. This strategic location places it within walking distance to several retail options and a nearby park, making it well-suited for future residents seeking convenience and community.
NuRock plans to further its impact on affordable housing in the region by initiating another project known as the Residences at Foxcroft Cove, located less than six miles from the Beverly Park development. This upcoming project aims to add 83 income-restricted units to the market, enhancing the overall housing options available in the area.
As of July, over 5,100 units of fully affordable projects were under construction in Greater Miami, which represents 14.7% of the total supply pipeline. In addition, the first half of 2025 saw the completion of approximately 1,610 units in fully affordable developments, which marked more than double the total number of units completed during the previous year. This indicates a substantial uptick in the commitment to affordable housing in the region.
Other noteworthy projects, such as Wynwood Works, which consists of 120 units and was developed in collaboration with the Omni Community Redevelopment Agency, reflect the growing trend of affordable housing initiatives across Florida.
With the Residences at Beverly Park set for completion in January 2026, this development represents a significant advancement in addressing the affordable housing needs of the Hollywood and Broward County regions while promoting a sense of community and sustainability.
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