Overview
Welcome to Wave at Richards, a thoughtfully planned rental community focused on expanding access to high-quality, affordable housing for working families and seniors in Collier County. Proposed for approximately 29 acres along Immokalee Road and pending approval by the Collier Board of County Commissioners, Wave at Richards is designed to respond to the clear and growing housing needs, while seamlessly fitting within the surrounding neighborhood. The project is being proposed by Onda Housing Group, a Naples-based affordable housing developer.
As one of the most expensive counties in which to live in Florida, many of our workers – from teachers and health care workers to service industry and nonprofit workers – struggle to find homes where they live close to where they work. Wave at Richards aims to address affordability concerns by creating a 100% affordable community serving households earning at or below 80% of the area median income, or less than $90,900 for a family of four in Collier County.
About The Developer
Based in Naples, Onda Housing Group is a leader in the affordable housing industry with a mission to provide a new wave of equitable living opportunities across the country. Work is underway on multiple affordable housing developments in Collier and Lee counties, including Bayshore Pines in North Fort Myers, Wave at Rose in Immokalee and Wave at Colonial in Fort Myers. With a foundation of financial certainty, Onda Housing Group maximizes community impact by fostering partnerships, promoting socio-economic mobility and creatively addressing the nation’s affordable housing shortage. Onda Housing Group is dedicated to generating long-term economic growth and stability by strengthening America’s working communities and building homes that inspire opportunity for years to come.
By The Numbers
%
of Collier County residents don’t think their neighbors have access to affordable housing
%
of Collier County residents believe controlling housing costs is a top public policy priority
%
of Collier County residents are cost-burdened, spending more than 30% of their gross monthly income on housing
Source: 2022-23 Collier County Community Assessment
Project Facts
- Wave at Richards is located on approximately 29 acres at the intersection of Immokalee Road and Richards Street in eastern Collier County, conveniently located near employment centers, schools and retail opportunities.
- Residents will have access to a variety of modern recreational amenities, including a pool, clubhouse, fitness center, playground and shared spaces aimed at promoting connectivity.
- The project requests a maximum of 687 rental units, proposed to include 237 units of senior housing and 450 units of multi-family housing. All units will be affordable, available to individuals and families making up to 80% of Collier County's area median income, or approximately $90,900 for a family of four.
- One-, two-, three- and four-bedroom units will be available with rents listed well below market rate, providing seniors, families and individuals with an affordable place to live.
- Housing affordability has long been a concern in Collier County, and Wave at Richards directly addresses Collier County's urgent need for affordable housing by providing individuals and families the opportunity to live in the community they serve.
Timeline
Feb. 25, 2026
Neighborhood Information Meeting
Spring 2026
Collier County Planning Commission Hearing
Fall 2026
Collier Board of County Commissioners Hearing
Spring 2027
Groundbreaking
Phase I Complete
(Summer 2026)
Vanderbilt Beach Rd Extension
Phase II Complete
(2027)
Neighborhood Impact
Onda Housing Group understands the importance of being a good neighbor and protecting the character of the surrounding neighborhood. At Wave at Richards, that means:
- Open space is prioritized with 60% of the site set aside for green space, buffers, pedestrian pathways and community amenities to foster a walkable, inclusive environment designed to enhance residents’ quality of life.
- Onsite stormwater management, ensuring proper stormwater retention and treatment to not only maintain water quality but also limit flooding potential.
- Robust landscape buffers, open spaces and feature lakes, which help enhance ecological functions and minimize potential conflicts with wildlife.
Wave at Richards aligns with Collier County’s vision for a walkable, sustainable community that offers a range of housing opportunities within a thoughtfully planned development.
Resources
FAQs
What is Wave at Richards?
Wave at Richards is a thoughtfully planned rental community focused on expanding access to high-quality, affordable housing for working families and seniors in Collier County. Developed by Onda Housing Group, a Naples-based affordable housing developer, the community is designed with the needs of current and future residents in mind. Pending approval by the Collier Board of County Commissioners, the proposal envisions a community that complements the surrounding area while delivering much-needed affordable housing solutions for Collier County residents.
Where is it located?
Wave at Richards is located at the intersection of Immokalee Road and Richards Street, approximately two miles east of Collier Boulevard on approximately 29 acres.
What else is nearby?
Wave at Richards is near several existing planned communities. Heritage Bay, a well-established residential golf course community featuring a mix of single-family homes, condominiums and resort-style amenities is located to the north. Several residential communities are located to the west of the site, including Ventana Pointe, reflecting the area’s ongoing shift from rural to residential communities.
Located about two miles east of Collier Boulevard, the proposed community is also within a short distance from employment centers, schools and retail opportunities.
How many units will be built?
As part of the Wave at Richards plan, Onda Housing Group is requesting a maximum of 687 units, pending approval by the Collier Board of County Commissioners. The project is proposed to include 237 units of senior housing and 450 units of multi-family housing. It will be a fully affordable community, with units available for individuals and families making up to 80% of the area median income in Collier County, or $90,900 for a family of four.
What types of amenities are included?
Wave at Richards residents will have access to a variety of modern recreational amenities, including a pool, clubhouse, fitness center, playground and shared spaces aimed at promoting connectivity.
How is rent and affordability determined?
Wave at Richards is envisioned to be a fully affordable community, offering apartments for income-qualified residents. Household income eligibility is determined by guidelines set by the U.S. Department of Housing and Urban Development.
One-, two-, three- and four-bedroom units will be available at Wave at Richards. All of the units will be below market rate, with rents varying based on bedroom count and income qualifications.
According to 2025 income and rent limits, a family of three with a household income of $81,850 a year, or 80% of Collier County’s area median income, could afford to spend $2,046 a month on a two-bedroom apartment. Based on these guidelines, an individual making $63,650 a year, or 80% of Collier County’s AMI, can afford to spend $1,705 a month for a one-bedroom apartment.
Click here to see the 2025 income and rent limits.
How will this impact traffic on Immokalee Road?
Immokalee Road is a six-lane urban roadway, designed to handle significant vehicular traffic. It is anticipated this project will have minimal impact on traffic on Immokalee Road, with a total of 236 weekday a.m. peak hour trips and 316 weekday p.m. peak hour trips.
Additionally, the Vanderbilt Beach Road extension is anticipated to ease existing traffic concerns along Immokalee Road. The Vanderbilt Road extension east is anticipated to be completed in late 2026.
Why is this project needed?
Collier County continues to see strong demand for affordable rental housing driven by population growth, limited housing supply and rising costs. These conditions have made it increasingly difficult for working families and seniors to find attainable housing within the community.
Wave at Richards is intended to help meet both current and long-term needs by expanding the supply of affordable apartment homes. Pending approval by the Collier Board of County Commissioners, the community will support Collier County’s workforce and help address gaps in the local housing market.
Comments & Questions