Amaryllis Park Place Phase I

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Sarasota, FL
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Amaryllis Park Place Phase I is a new construction senior affordable housing development in Sarasota’s Newtown neighborhood. The 84 one- and two-bedroom units are affordable to seniors ages 62 and older with annual incomes from 35% to 60% of AMI. The Amaryllis Park Place development site totals 14 acres and originally, contained 100-units of public housing that were in disrepair. Smith & Henzy worked with the Sarasota Housing Authority to craft a phasing plan for the site and remove portions from the Declaration of Trust, through HUD’s Section 18 Demolition and Disposition program for Amaryllis Park Place Phase I and Section 22 Voluntary Conversion program for Amaryllis Park Place Phase II. Smith & Henzy is one of the first developers in the country to utilize the Section 22 Voluntary Conversion program. Smith & Henzy and the Sarasota Housing Authority completed construction on Amaryllis Park Place Phase I in early 2022 and the community is fully leased; Amaryllis Park Place Phase II is currently under construction and slated for completion in 2023.

$22.2 million
million total development cost
gross square feet of residential space