Fred Gunther with Gunther Properties brokered the purchase of approximately 5.78 acres in West Pensacola by Southport Development (www.sphome.com). An application submitted by SP Magnolia, LLC was approved for funding by Florida Housing in RFA 2024-305 Community Development Block Grant — Disaster Recovery to be used in Conjunction with Tax-Exempt Bonds and Non-Competitive Housing Credits in Counties Deemed Hurricane Sally Recovery Priorities, which will result in 88 units of affordable housing for seniors, called Magnolia Trail, being developed on the site. Fred Gunther held an ownership interest the property, and the entity that held ownership was a listed development partner in the application submitted to Florida Housing. We are proud to support Escambia County’s efforts bring more much needed affordable housing to this community.
