Monaco Apartments

The Monaco Apartments project involves the development of a 367-unit Class A multifamily rental housing complex by NRP Group, LLC. Located near SH-71 Frontage Road and Kellam Road, the project comprises one-, two-, and three-bedroom units. The development will feature amenities such as a clubhouse, pool, fitness center, and more. The project will offer 74 units at 60% AMI, 110 units at 80% AMI, and 183 units at market rate. The total development cost is estimated at $90.95 million, with financing through $60,000,000 in tax-exempt bonds and over $20 million in anticipated tax credit equity. This project aims to provide high-quality, affordable housing options and includes comprehensive resident services like educational support and job readiness programs.