Blue Deep Creek opens 70 affordable units in Charlotte County

Construction is complete and leasing is underway at Blue Deep Creek, a $23 million affordable housing development bringing 70 apartments to the Deep Creek area of Charlotte County.

Geoff Harlan, senior vice president of acquisitions for developer Blue Sky Communities, told Charlotte County commissioners that the project at 2480 Luther Road was made possible through a combination of public and private financing and the county’s expedited permitting process.

“We finished construction and we started lease-up, so this is great news; we’re excited,” Harlan said.

The first phase includes nine one-bedroom apartments and 61 two-bedroom apartments, with monthly rents ranging from about $940 to $1,500.

The community is designed to serve households earning up to 80% of the area median income, with some apartments reserved for residents earning 30% or less.

Amenities include a clubhouse, fitness center, activity room and playground. The development was built to National Green Building Standards, incorporating energy-efficient features intended to help residents manage utility costs.

The second phase, now in the permitting process, will add 70 apartments, bringing the community’s total to 140. Harlan said he expects to secure all necessary permits by Jan. 27, 2027.

The project received approximately $1.8 million in government housing assistance, including $340,000 through the Local Government Area of Opportunity program, $400,000 from the State Housing Initiatives Partnership program, $400,000 in Hurricane Housing Recovery funding and nearly $639,000 through a HOME program loan.

“We couldn’t build affordable housing without this kind of support,” Harlan said.

Blue Sky Communities also secured nearly $18 million in financing associated with the Florida Housing Finance Corp. and a competitive 9% low-income housing tax credit allocation. Additional financing included a $2.25 million bank loan and $1.2 million through the developer’s fee structure.

A ribbon-cutting ceremony is scheduled for Nov. 18, although the first residents are expected to move into the community before then.

Blue Sky Communities previously partnered with Community Assisted and Supported Living to develop Jacaranda Place, an 88-unit apartment community off Loveland Boulevard in Port Charlotte that provides housing for low-income residents and people with disabilities.

Founded in 2012, Blue Sky Communities has developed more than 2,800 affordable housing units throughout Florida, including several projects in Southwest Florida.