Curated News
By: NewsRamp Editorial Staff
October 08, 2025
Affiliated Launches $250M Housing Fund to Tackle Florida Affordability Crisis
TLDR
- Affiliated Development's $250 million fund offers investors market-rate returns while financing luxury mixed-income housing projects across Florida's underserved markets.
- Affiliated Development utilizes public-private partnerships and government financing incentives to build Class A multifamily communities at attainable rents through their new impact fund.
- This fund addresses Florida's housing crisis by creating mixed-income workforce housing, helping cost-burdened renters while reinvesting capital back into local communities.
- Affiliated Development has 4,800 units completed or underway, including recent approvals for The Ray in Sunrise and The Cove in Fort Lauderdale.
Impact - Why it Matters
This development matters because it addresses one of Florida's most pressing social and economic challenges - the housing affordability crisis that affects over 60% of South Florida renters who are cost-burdened. As housing costs continue to outpace wage growth, initiatives like Affiliated's mixed-income workforce housing provide critical relief for middle-income workers, first responders, teachers, and service industry employees who form the backbone of local economies. The involvement of municipal pension funds creates a virtuous cycle where retirement investments directly benefit the communities they serve, while the public-private partnership model demonstrates how government incentives can catalyze private sector solutions to public problems. This approach not only provides immediate housing relief but also establishes sustainable models for addressing urban affordability challenges nationwide.
Summary
Affiliated Development, a leading real estate development, investment and asset management firm headquartered in Fort Lauderdale, Florida, has launched its second impact investment vehicle - the $250 million Affiliated Housing Impact Fund II, LP. Building on the success of its inaugural 2020 fund, this new capital pool will finance the company's pipeline of high-quality, mixed-income workforce housing projects across Florida, directly addressing the state's critical housing shortage with attainable, Class A living solutions. Principals Nick Rojo and Jeff Burns will serve as sole general partners and managers, continuing Affiliated's proven strategy of delivering luxury multifamily communities at attainable rents through innovative public-private partnerships.
The launch comes amid what Burns describes as South Florida being "the epicenter of the housing affordability crisis," with over 60% of renters in the region being cost-burdened - paying more than 30% of their income on rent. The Fund has already completed its initial closing with strong support from local municipal, police and fire pension plans, many of whom are repeat investors. This reflects a shared vision of reinvesting capital back into local communities to drive economic growth while providing critical housing and generating market-rate returns. Rojo emphasized the "win-win scenario where community investment drives financial returns," highlighting the company's expertise and agility in executing this strategy.
Affiliated Development has been actively executing its housing strategy since 2014, with numerous recent approvals and developments across South Florida. The company recently secured approval for The Ray, a 400-unit development in Sunrise, and The Cove, a 376-unit project in Fort Lauderdale. In Boynton Beach, Affiliated has approvals for 636 units across The Dune and The Pierce projects, with The Dune expected to break ground in Q4 2023. The company is currently building The Era, a 400-unit development in Fort Lauderdale, and expects to deliver The Tropic in Hollywood and The Spruce in West Palm Beach by year-end. With 4,800 units completed or under development and over $1 billion invested nationwide, Affiliated's pioneering efforts continue to reshape communities through sustainable, attainable housing solutions.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Affiliated Launches $250M Housing Fund to Tackle Florida Affordability Crisis
