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Independent LivingSenior Apartments✓ Verified
Apalachicola, Franklin County
Last verified: Sunday, October 25, 2026
Franklin County Subsidized & USDA Section 515 / FHFC LIHTC Apartment Inventory — Southern Villas, Heritage Villas, Carrabelle Cove & Eastpoint Apartments
About This Organization

Comprehensive regulator-verified directory of all 4 USDA Rural Development Section 515 / Section 521 Rental Assistance and Florida Housing Finance Corporation (FHFC) 9% Low-Income Housing Tax Credit (LIHTC) apartment communities operating across Franklin County in Apalachicola (32320), Carrabelle (32322), and Eastpoint (32328). Because Franklin County has zero standalone HUD Section 202 properties, these 4 federally and state-subsidized communities—Southern Villas of Apalachicola (#A11144), Heritage Villas of Apalachicola (#A20131), Carrabelle Cove Apartments (#A31842), and Eastpoint Apartments (#A31761)—provide the county's primary income-restricted 1- and 2-bedroom ground-floor apartments for older adults (62+) and persons with disabilities, offering 30%-of-income USDA Rental Assistance subsidies and full acceptance of NWFRHA Section 8 Housing Choice Vouchers.

Official Verification Sources: USDA Rural Development Multifamily Housing Rentals Portal — Franklin County Inventory; Royal American Management — Southern Villas, Heritage Villas & Eastpoint Apartments; Florida Division of Corporations (Sunbiz) — Document #A11144, #A20131, #A31842 & #A31761

Verified State & Regulatory Credentials
USDA Section 515 / 521 & Florida LP Registration — Southern Villas & Heritage Villas of Apalachicola: A11144 / A20131Status: Active (USDA Rural Development Section 515/521 & FHFC 9% LIHTC — Apalachicola)

Issuer: USDA Rural Development & Florida Division of Corporations (Sunbiz)

Notes: Southern Villas of Apalachicola, Ltd. (Sunbiz #A11144, 401 24th Ave, Apalachicola) and Heritage Villas of Apalachicola, Ltd. (Sunbiz #A20131, 398 24th Ave, Apalachicola); managed by Royal American Management, Inc. (Sunbiz #765319, (850) 653-9277).

USDA Section 515 / 521 & FHFC 9% LIHTC — Carrabelle Cove, Ltd.: A31842Status: Active (24 Units — USDA Section 515/521 & FHFC LIHTC in Carrabelle)

Issuer: USDA Rural Development & Florida Housing Finance Corporation (FHFC)

Notes: Carrabelle Cove, Ltd. (Sunbiz #A31842) located at 807 Gray Ave, Carrabelle, FL 32322 ((850) 697-2818); Hallmark Management.

USDA Section 515 / 521 & FHFC 9% LIHTC — Eastpoint Apartments RRH, Ltd.: A31761Status: Active (USDA Section 515/521 & FHFC LIHTC — Eastpoint)

Issuer: USDA Rural Development & Florida Housing Finance Corporation (FHFC)

Notes: Eastpoint Apartments RRH, Ltd. (Sunbiz #A31761) located at 45 Begonia St, Eastpoint, FL 32328 ((850) 670-8854); managed by Royal American Management, Inc. (#765319).

Services Offered
Southern Villas of Apalachicola (401 24th Ave, #2D, Apalachicola, FL 32320, (850) 653-9277, Sunbiz #A11144): USDA Section 515 & Section 521 Rental Assistance apartments managed by Royal American Management (#765319)
Heritage Villas of Apalachicola (398 24th Ave, Apalachicola, FL 32320, (850) 653-9277, Sunbiz #A20131): Dual USDA Section 515/521 and FHFC 9% LIHTC apartment community managed by Royal American Management
Carrabelle Cove Apartments (807 Gray Ave, Carrabelle, FL 32322, (850) 697-2818, Sunbiz #A31842): 24-unit USDA Section 515/521 & FHFC 9% LIHTC community in Carrabelle with 1-bedroom flats and Section 8 voucher acceptance
Eastpoint Apartments (45 Begonia St, Eastpoint, FL 32328, (850) 670-8854, Sunbiz #A31761): USDA Section 515/521 & FHFC 9% LIHTC apartment community serving central Franklin County (Royal American Management)
USDA Section 521 Rental Assistance & Elderly Deduction ($400/yr + Medical Expense Offset): Caps tenant rent at 30% of adjusted monthly income on RA-designated units
Nearest Age-Restricted 62+ Senior Apartments: Silent Creek Apartments in Port St. Joe ((850) 229-9110, 22 mi W) & Wakulla Trace Apartments in Crawfordville ((850) 926-6644, 48 mi NE)
Frequently Asked Questions

Factual details and direct answers about Franklin County Subsidized & USDA Section 515 / FHFC LIHTC Apartment Inventory — Southern Villas, Heritage Villas, Carrabelle Cove & Eastpoint Apartments's services, licensing, and credentials.

Are there any subsidized apartments with 30%-of-income rent in Apalachicola, Carrabelle, and Eastpoint?

Yes. Franklin County has four USDA Rural Development Section 515 / FHFC LIHTC communities: Southern Villas of Apalachicola (401 24th Ave) and Heritage Villas of Apalachicola (398 24th Ave) in Apalachicola ((850) 653-9277), Carrabelle Cove Apartments (807 Gray Ave, Carrabelle, (850) 697-2818), and Eastpoint Apartments (45 Begonia St, Eastpoint, (850) 670-8854). All four properties carry USDA Section 521 Rental Assistance on eligible units, capping tenant rent at 30% of adjusted monthly income, and also accept NWFRHA Section 8 vouchers.

Where are the nearest dedicated 62+ senior-only apartment complexes to Franklin County?

While the four USDA Section 515 / LIHTC complexes in Apalachicola, Carrabelle, and Eastpoint serve both senior/disabled households and families (with ground-floor 1-bedroom units favored by seniors), the nearest dedicated elderly-only (62+) USDA Section 515 complexes are Silent Creek Apartments (200 Silent Creek Ln, Port St. Joe, FL 32456, (850) 229-9110) 22 miles west of Apalachicola in Gulf County, and Wakulla Trace Apartments (112 Wakulla Trace Ln, Crawfordville, FL 32327, (850) 926-6644) in adjacent Wakulla County.

Contact Information
Address
401 24th Ave, Ste 2D, Apalachicola, FL 32320
Hours
Mon-Fri 8:00 AM - 5:00 PM (Leasing Offices: Apalachicola (850) 653-9277 / Carrabelle (850) 697-2818 / Eastpoint (850) 670-8854)
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Disclaimer: This directory listing is for informational purposes only. Florida Senior Support does not endorse or guarantee the quality of services. Please verify information and services directly with the organization.