Lofts on Lemon, a project of Smith & Henzy’s and the Sarasota Housing Authority’s, is an innovative mixed-income project that utilizes a diversity of financing sources. Lofts on Lemon Phase I is a new construction, 128-unit, affordable workforce community for families in downtown Sarasota. The project is comprised of a five-story mid-rise building that contains a mix of one-, two-, and three-bedroom apartments for families with annual incomes from 30% to 80% AMI. Lofts on Lemon Phase I will offer a large community room for residents, an indoor gym, and a fifth-floor community media room with a balcony. Of the 128 units, 76 are tax credit units and the remaining 52 are workforce units with a preference for individuals that qualify for a local program called “Hometown Heroes,” which aims to provide housing to local police officers, firefighters, teachers, and nurses. Construction will be complete on Lofts on Lemon Phase I in 2022. Smith & Henzy and the Sarasota Housing Authority are pursuing financing for Lofts on Lemon Phase II, with plans to begin construction in late 2023. To date, we have been awarded $7 million in American Rescue Plan Act funds from Sarasota County.
