Meyer Orbach Leads Acquisition and Modernization of Harbor Cove Apartments, Extending Affordability for 30 Years

Orbach Affordable Housing Solutions has acquired Harbor Cove Apartments, committing to a $13 million rehabilitation project to modernize the 208-unit community while extending its affordability for 30 years

NEW YORK--(BUSINESS WIRE)--Orbach Affordable Housing Solutions (OAHS), led by Chairman Meyer Orbach, has announced the acquisition of Harbor Cove Apartments, a 208-unit affordable housing community in Alachua County, Florida. This milestone underscores OAHS’s mission to preserve and enhance affordable housing across the nation while providing safe, modernized living spaces.

The Harbor Cove Apartments, located at 6815 W University Avenue, will undergo significant rehabilitation to improve and stabilize the property while extending its affordability for an additional 30 years. The $63 million project includes an investment of $13 million in rehabilitation costs to deliver comprehensive upgrades that will benefit tenants for decades to come.

“This acquisition and planned rehabilitation reflect our unwavering commitment to preserving affordable housing,” said Meyer Orbach, Chairman of The Orbach Group and OAHS. “By modernizing Harbor Cove Apartments, we’re not only improving the quality of life for residents but also reinforcing our dedication to providing energy-efficient, sustainable housing solutions for everyone.”

The planned improvements include:

• Planned Energy-Efficient Appliances: New installations to reduce energy consumption and utility costs for residents.
• Updated Flooring: Enhancements to create a more durable and attractive living environment.
• Kitchen and Bathroom Renovations: Complete redesigns to meet modern standards, ensuring comfort and functionality.

OAHS’s investment in Harbor Cove Apartments aligns with its overarching mission of delivering high-quality, affordable housing. With this project, OAHS continues to set the standard for preserving affordability and improving resident well-being through sustainable practices.

About Orbach Affordable Housing Solutions

Orbach Affordable Housing Solutions, a subsidiary of The Orbach Group, owns and manages over 8,500 multifamily units across the United States. The company is dedicated to preserving and enhancing affordable housing communities through significant investments, a plan to provide a range of energy-efficient upgrades, and community-focused initiatives.

About Meyer Orbach

Meyer Orbach is the chairman of Orbach Affordable Housing Solutions and The Orbach Group, a comprehensive real estate organization specializing in Class-A properties and affordable housing. Under his leadership, the company has acquired over 50 buildings in New York City and has managed more than 50 affordable properties nationwide. He is also the co-founder of GO Partners, which owns iconic Manhattan towers like The Copper Buildings and One East River Place.