Renaissance Hall at Old Course $94M
Total financing of $94M closed October 11, 2024, commencing new construction of the 252-unit Renaissance Hall rental community in suburban Golden Gate. The project is financed in part by U.S. Department of Treasury (under Federal Award Number 1505-0271) and Collier County Community & Human Services Division, PGIM’s HUD 221(d)(4) program, Collier’s International, Collier County’s and Florida Housing Finance Corporation’s SHIP Program, Rural Neighborhoods’ debt and governmental grant support from HUD, together with philanthropic contributions from the Richard M. Schulze Family Foundation, Moorings Park Foundation and Collier Community Foundation. The complex layers of debt and equity enable below-market rents to essential service personnel in Collier.
Rural Neighborhoods’ President, Steven Kirk, stated, “the public support from the Collier Board of County Commissioners and Congressman Mario Diaz Balart over an extended predevelopment period was critical to getting to the finish line.” Kirk noted, “it happened because of the faith and trust of public officials.” Construction is scheduled over 24 months with initial units becoming available to rent in January 2026. RHOC marks the largest investment in Rural Neighborhood’s experience.
