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Download Holly_Ridge_Marketing_Package_3-2-2018.pdf
  • Senior LIHTC Property Placed in Service in 2001 for Ages 55 and Older
  • Palatka is Located 62 Miles South of Jacksonville and 44 Miles East of Gainesville
  • Palatka is Home to St. Johns River State College
  • Georgia Pacific is the Single Largest Private Employer in the City

6401 St. Johns Avenue
Palatka, FL 32177

  • Status: Available
  • Price: UNPRICED
  • # of Units: 120
  • Rentable SF: 77,700
  • Year Built: 2001
  • # of Buildings: 1
  • Lot Size: 13.45 Acres
  • Density: 8.92 Units/Acre
  • # of Stories: 3
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  • Description:

    • Holly Ridge Apartments is a 120-unit affordable housing community for seniors ages 55 and older, located in Palatka, FL.  Within blocks of the property you will find parks, shopping, restaurants, health care facilities, and entertainment.

      Holly Ridge was built and placed in service in 2001 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place with Florida Housing and Finance Corporation, which requires all units to be rented to income qualifying tenants earning no more than 40%, 50%, and 60% of the Area Median Income. The property is beyond its initial 15-year tax credit compliance period. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordable housing units and to fulfill all requirements of an existing regulatory agreement. 

      Residents benefit from a multitude of community amenities including a swimming pool, fitness center, business center, on-site laundry facilities, billiards, clubhouse, resident activities, and easy access to public transportation and the freeway. Unit amenities include a kitchen with a dishwasher, stove, refrigerator and breakfast bar. The bedrooms have walk-in closets, ceiling fans, and the units contain a fireplace.