Kissimmee is adding 88 affordable apartments to a fast-growing corridor south of Orlando, with construction already underway and move-ins still more than a year away. The project is small compared with the region’s giant apartment pipeline, but its income restrictions make it a notable addition for local families and workers priced out of much of Central Florida.
The NRP Group has completed the financial closing and broken ground on Alora Lofts, a four-story community planned for Kissimmee. According to Business Wire, the development will serve households earning between 30% and 70% of the area median income.
Alora Lofts Will Offer One- To Three-Bedroom Homes
Alora Lofts will include a mix of one-, two- and three-bedroom apartments, giving the project a range of layouts for individuals, couples and families. The NRP Group lists a fitness center, swimming pool, clubhouse-style multipurpose space, community kitchen, outdoor grills and a children’s playground among the planned amenities.
The project is designed as a single building on roughly 4.5 acres along the John Young Parkway corridor. Its location is less than a mile from multiple LYNX bus stops and near everyday destinations including Publix, Publix Pharmacy and Highland Elementary School, according to the developer’s project details.
New Housing Lands Amid A Local Affordability Push
Kissimmee’s own long-range planning documents acknowledge the problem Alora Lofts is meant to address. The city’s 2040 Comprehensive Plan calls for promoting workforce housing and addressing the city’s current and future affordable housing shortage.
Local television station WFTV reported that the project’s apartments will be reserved for income-qualified residents and that construction is expected to deliver new homes late next year. The development’s amenities and proximity to transit are part of the pitch, especially for residents who need access to jobs and services without adding another long commute to the Central Florida traffic mix.
Hurricane Ian Recovery Funding Is Part Of The Financing
Alora Lofts is being financed through a mix of Florida Housing Finance Corporation tax credits, tax-exempt bonds and Community Development Block Grant–Disaster Recovery funding administered through the U.S. Department of Housing and Urban Development. The project’s financing partners also include Truist and Grandbridge, while HUD describes CDBG-DR dollars as long-term recovery funding for disaster-impacted communities.
The NRP Group said the disaster-recovery money was made available through resources tied to Hurricane Ian, adding a post-storm angle to a project otherwise focused on Central Florida’s ongoing growth. The company also described Alora Lofts as its first affordable housing project in Florida in more than a decade and said the building will use concrete construction intended to withstand severe weather and hurricane conditions.
Construction is underway, with completion scheduled for December 2027. For Kissimmee, the project will not solve the region’s housing shortage by itself, but it will put 88 income-restricted homes on the ground in a location connected to buses, schools, retail and Orlando-area employment centers.
