A rendering shows the proposed Murdock Square affordable housing development planned for Veterans Boulevard in Port Charlotte. The 88-unit project received Charlotte County’s support for a $340,000 Local Government Area of Opportunity loan as it competes for state housing tax credits.
Charlotte County government
Charlotte County commissioners approved a $340,000 Local Government Area of Opportunity loan for Coconut Grove-based Housing Trust Group’s proposed Murdock Square development, an 88-unit affordable housing project on Veterans Boulevard in Port Charlotte. But county officials said it represents only a small step toward addressing a severe housing shortage.
The commission approved the loan at its July 28 meeting following a recommendation from the Affordable Housing Advisory Committee.
Human Services Director Colleen Turner presented the committee’s findings and scoring results, then said after the meeting that the county remains thousands of affordable housing units short after years of hurricane damage and rapid population growth.
Housing Trust Group and St. Petersburg-based Blue Sky Communities competed for the annual loan, which can be awarded to only one project. Blue Sky sought the funding for Blue Deep Creek Phase 2, an 84-unit development on Luther Road.
To qualify, applicants must demonstrate they are likely to secure additional financing. Turner said both proposals were strong, but Housing Trust Group’s project was considered more likely to receive state funding and better aligned with the program’s priorities.
The Local Government Area of Opportunity loan, created through the Florida Housing Finance Corp., allows local governments to help support developments seeking competitive 9% Low-Income Housing Tax Credits by contributing local funding.
Before Turner’s presentation, Blue Sky Communities President Shawn Wilson urged commissioners to support his company’s proposal. Blue Deep Creek Phase 2 would be built adjacent to the company’s existing 70-unit Blue Deep Creek Phase 1 development.
Blue Sky also developed Jacaranda Place in Charlotte County in 2017.
Wilson noted the county approved rezoning the property from 10 units per acre to 15 units per acre in March and said he viewed that action as an endorsement of the project “in a manner of speaking.”
Housing Trust Group Senior Vice President Ariel Fraynd said the company has developed more than 10,000 affordable housing units since 1997 through partnerships with local governments, nonprofits and private organizations.
He said Murdock Square’s location on Veterans Boulevard would give residents easy access to jobs, shopping and other services without relying on public transit.
Turner acknowledged both developments were extremely desirable, but said Housing Trust Group scored better in key areas tied to state priorities.
Although Blue Deep Creek Phase 2 received the higher overall score — 86 points to Murdock Square’s 82 — Murdock Square met five of the eight goals outlined in the Live Local Act, compared with three for Blue Deep Creek Phase 2.
Murdock Square will include one-, two- and three-bedroom apartments serving households across a broader range of income levels, with about 44% of units reserved for residents earning up to 70% of the area median income.
A rendering shows the proposed Murdock Square affordable housing development planned for Veterans Boulevard in Port Charlotte. The 88-unit project received Charlotte County’s support for a $340,000 Local Government Area of Opportunity loan as it competes for state housing tax credits.
Charlotte County government
Blue Deep Creek Phase 2 will offer one- and two-bedroom apartments for households earning less than 60% of the area median income.
Fraynd said the broader income range would allow Murdock Square to serve larger families and more working households.
“A family of three with a household earning of about $60,000 would technically be priced out of the Blue Deep Creek site, just based on earning too much money,” Fraynd said. “We wanted to capture that” by providing housing for working families.
Despite the approval, Turner said Charlotte County still faces a shortage of about 10,000 affordable housing units.
She said the county continues to recover from decades of storm damage, beginning with Hurricane Charley in 2004.
Among the projects in progress, the nine-unit Stillwater Apartments, which flooded during Hurricane Milton, is permit-ready and awaiting final financing before construction begins.
Oak Tree Village, a 30-unit affordable housing development in east Punta Gorda, was destroyed by Hurricane Milton and is scheduled for demolition.
The Gulf Breeze and Verandas developments in Punta Gorda replaced affordable housing lost after Hurricane Charley. In December 2024, the first tenants moved into Verandas III, including residents displaced by Hurricane Milton earlier that year.
Additional affordable housing projects also are moving forward.
The St. Vincent de Paul Society is planning a 32-unit development to be built in two phases after securing funding through the Florida Housing Finance Corp. and Charlotte HOME subsidies for design and underwriting.
Peace River Community Housing Partners developed Villas at Scott Street, a three-unit affordable housing project for extremely low-income veterans in Punta Gorda.