A workforce housing project planned for Bradenton achieved a milestone this week, after securing $15 million in construction financing. Ian Fitzgerald, an originator for Largo Capital, arranged the loan from Cogent Bank for Forest Cove, a workforce housing complex that will be built by affordable housing developer One Stop Housing.
Forest Cove will provide 156 apartments priced below market rate for employees of organizations that have signed on to help develop the project.
In addition to One Stop Housing, the development group consists of nine equity partners, according to One Stop Housing CEO and Managing Partner Mark Vengroff: Aladdin Pools, CareerSource Suncoast, Goodwill Manasota, Nissan Motors, Anna Maria Oyster Bar parent company Oysters Rock Hospitality, S&B Metals, Spirit Movers, Sunz Insurance and One Stop Housing Development and Construction…