SKN | Construction Begins on $38.2 Million Affordable Housing Community in Rockledge

Construction is officially underway on Ekos at Rockledge Park, a new $38.2 million affordable housing community that will bring 100 below-market-rate apartments to Rockledge in Brevard County along Florida’s Space Coast.

Developed by McDowell Housing Partners (MHP), the project marks the company’s first affordable housing development in Brevard County and its 18th affordable housing community to begin construction in Florida since 2019.

Expanding Affordable Housing Options

Located at 1505 Cogswell Street, the five-story development is designed to serve working families and lower-income households by offering rental housing at affordable rates.

The community will include 70 one-bedroom apartments, 25 two-bedroom units, and five three-bedroom residences ranging from approximately 593 to 1,026 square feet.

Each apartment will feature stainless steel appliances, granite countertops, modern cabinetry, luxury vinyl flooring, private balconies, and washer and dryer hookups.

According to McDowell Housing Partners Chairman and CEO W. Patrick McDowell, the development represents an important investment in workforce housing that allows residents to live closer to their jobs while improving long-term housing stability.

Housing Reserved for Multiple Income Levels

The development will serve a broad range of income-qualified households.

Fifteen percent of the apartments will be reserved for extremely low-income households earning up to 30% of the Area Median Income. Another 40% of the units will serve households earning up to 60% of AMI, while the remaining 45% will be available to residents earning up to 70% of AMI.

This income mix is intended to expand affordable housing opportunities for both lower-income residents and essential workforce employees across the region.

Modern Amenities for Residents

Ekos at Rockledge Park will offer amenities commonly found in market-rate apartment communities.

Residents will have access to an on-site clubhouse with management offices, a fitness center, business and media center, multipurpose community room with kitchenette and game tables, package lockers, laundry facilities, and an outdoor swimming pool with barbecue areas and seating.

The project is designed to provide affordable housing without sacrificing quality-of-life features that support residents and families.

Focus on Sustainability

The development is being built to achieve certification under the National Green Building Standards.

Apartments will incorporate numerous energy-efficient features, including Energy Star-certified appliances, LED lighting, impact-resistant windows, and low-flow plumbing fixtures. These upgrades are expected to reduce utility costs while improving long-term building performance and environmental sustainability.

Financing Supports Affordable Development

The project is financed through a combination of public and private funding sources.

Its capital stack includes tax-exempt bonds, $10 million in Community Development Block Grant Disaster Recovery (CDBG-DR) funding, and 4% Low-Income Housing Tax Credits administered by the Florida Housing Finance Corporation.

Bank of America is serving as both the tax-credit investor and construction lender, while Cedar Rapids Bank & Trust is providing permanent financing for the completed development.

Strategic Location Near Major Employers

The property is situated near U.S. Highway 1 and Interstate 95, providing convenient access to major employment centers throughout Brevard County.

Residents will be located within commuting distance of Cocoa Beach, Port Canaveral, Kennedy Space Center, and numerous employers in the aerospace, healthcare, defense, and technology industries that continue to drive economic growth along Florida’s Space Coast.

The project team includes Slocum Platts Architects as architect of record, MHP Park & Eleazer Construction LLC as general contractor, and Kimley-Horn as civil engineer.

Market Outlook

As population and employment continue expanding across Florida’s Space Coast, developments such as Ekos at Rockledge Park are expected to play an increasingly important role in addressing workforce housing needs. By combining affordable rents, modern amenities, energy-efficient construction, and proximity to major employment hubs, the project supports both regional economic growth and long-term housing affordability.