— A groundbreaking ceremony was set Thursday for the future Cornell Colony, an affordable rental housing development funded by the United States Department of Housing & Urban Development HOME Program, a Heartland National Bank construction loan and the Highlands County State of Florida State Housing Initiative (SHIP) Program.
Located at 517 W. Cornell St., Avon Park, about 30 people attended the 10 a.m. ceremony led by Larry Shoeman, executive director of the Avon Park Housing Authority.
Cornell Colony will be a new 44 single family housing development being built on an 8.2-acre site of a former citrus grove. All of the homes will have three bedrooms, two bathrooms and approximately 1,250 square feet of living spaces, said Shoeman. The estimated$7.1 million project will include amenities such as a community center and playground facilities.
“Cornell Colony will be homes of hope, dreams and part of a greater quality of life we all will have within our community,” said Shoeman.
The project — which expands from Florida Avenue to Waldron Avenue and fronts Cornell Street, backing up to Kirkland Street — is expected to be completed by summer 2016.
Shoeman said projected monthly rents will average in the low to middle $500s “based on which income category the family qualifies.”