Housing Trust Group Seeks $1.95M Hollywood Loan for Mosaic

Housing Trust Group is asking the City of Hollywood for a $1.95 million loan to help buy a troubled Dixie Highway site for Mosaic Hollywood, an 84 unit affordable apartment project built under the state’s Live Local Act. The Hollywood City Commission takes up the loan resolution, R-2026-304, at a special meeting on September 14.

Why it matters

Live Local Act projects get density and height bonuses by right, but land acquisition still has to close before any of that matters, and HTG is going to the city for gap money at exactly that step. The draft resolution treats the loan as two things at once, a site control tool now and a Local Government Area of Opportunity contribution later, which state tax credit rules can require of a city partner. That structure, a small city loan unlocking a much larger low income housing tax credit application, is the template other affordable developers working the Broward and South Florida pipeline will study as land costs keep pushing projects toward secondary corridors like Dixie Highway.

The numbers

HTG is requesting $1.95 million in City Interlocal Agreement funds to acquire 1708 North Dixie Highway, at the corner of Taft Street, for Mosaic Hollywood. Of that amount, up to $640,000 could convert to a soft loan to meet the Local Government Area of Opportunity requirement in Florida Housing Finance Corporation’s 2027 and 2028 Large County 9 percent tax credit rounds. The project itself is planned as a 10 story, 84 unit building with 77 one bedroom and 7 two bedroom units and 103 parking spaces. Units would be split across four AMI bands, 13 at or below 30 percent, 42 at or below 60 percent, 19 at or below 70 percent, and 10 at or below 80 percent of area median income. HTG has site control through a purchase agreement and intends to apply for 9 percent low income housing tax credits to complete the capital stack.

What’s next

The commission votes on the loan resolution September 14. If approved, HTG still needs a Florida Housing Finance Corporation tax credit award in the 2027 cycle, or 2028 if the first attempt misses, before construction financing is in place. HTG has committed to clearing debris and vehicles from the site by the end of 2026 as part of its purchase agreement with the current owner.