Punta Gorda Housing Authority Executive Director Kurt Pentelecuc was all smiles as ground was broken Jan. 18 on 72 apartment homes in an affordable housing complex. However, with more than 800 applicants on a waiting list, the number of additional affordable units falls short of what is needed, he said.

The Verandas of Punta Gorda III marks the final phase in the redevelopment of the Punta Gorda Housing Authority’s public housing apartment homes, which were lost during Hurricane Charley in 2004. The first redevelopment site, Gulf Breeze Apartments, was completed in 2008. The second and third phases, Verandas I and II, were completed in November 2017.

“We are excited to complete final redevelopment of PGHA’s public housing developments,” Pentelecuc said. “There are plenty of people in Charlotte County looking for the opportunity to live in a quality community at an affordable price.”

When home prices skyrocketed in recent years, many families could not afford to pay their rising rents, forcing them to find alternate means of housing. Some younger families wound up living with relatives, Pentelecuc said.

The 72 apartments in Verandas III, which are scheduled to open in early 2025, are designated affordable housing for families whose incomes are 60% or less of the area median income.

Some units will receive subsidies to supplement the rental price, and the complex will accept vouchers from the housing authority, Pentelecuc said.

The Verandas III apartments will join the 120 apartment homes already in place in the first two phases of the Verandas on Airport Road in Punta Gorda.

Verandas III include four three-story buildings with one-, two- and three-bedroom apartment homes.

Designed to resemble Verandas I and Verandas II, the third complex also will look upscale and blend in with the surrounding community.

The apartments will have open floor plans, granite countertops, Energy Star appliances and balconies or porches.

The first two Verandas are for those 55 and older with amenities that include a community center with a range of activities. There also is a pool and a cyber cafe.

Verandas III will be for single people or families meeting the income requirement, and their complex will offer an array of amenities and services, including credit and home ownership counseling, and enrichment opportunities, such as education, job training and placement programs to promote self-sufficiency.

Tenants can enroll in the Resident Opportunity and Self Sufficiency program, a Department of Housing and Urban Development program for public housing residents with supportive services, resident empowerment activities and assistance in becoming economically self-sufficient.

The complex also will have a clubhouse, fitness center, business center and playground.

“A case manager on staff will meet with folks to see what their needs are to get out of poverty,” Pentelecuc said.

The PGHA operates the Public Housing program and the Housing Choice Voucher program, also known as Section 8, for low-income residents in Charlotte County and the city of North Port.

It provides housing in 184 public housing units and manages 500 Housing Choice Vouchers for area landlords.

Funding for the project includes Charlotte County funds, city of Punta Gorda funds, a Viability Loan from Florida Housing Finance Corporation, PGHA funds and low-income housing tax credit equity and construction and permanent loans from Bank of America. Verandas III is the first affordable housing development awarded funds from the Charlotte County Housing Trust fund through the Charlotte Homes Application process.

Verandas III is being co-developed by Newstar Development, Norstar Development USA and PGHA, and will be managed by Norstar Accolade Property Management. The development team includes Forum Architecture, Banks Engineering and NSBF as the general contractor.

“The Verandas III is a great example of how quality affordable housing can help a community,” said Brian Evjen, president of Newstar Development. “We are proud to be the developer for the project, and working with the Punta Gorda Housing Authority has been an absolute pleasure for us.”