SOUTH REGION
FCLF LOAN $2,250,000
Construction Line of Credit
40 Affordable Homes for Ownership
4 permanent jobs
52 temporary construction jobs
"We are very grateful and proud to work with FCLF, an organization that helps us better serve the community by providing affordable housing for low-income families." – Isaac Simhon, Executive Director
Housing Programs, Inc., a Miami based nonprofit home builder, is closing the gap of affordable homeownership for low-income families.
In Miami-Dade County, 49% of households are cost burdened, paying more than 30% of their income for housing. There are 19% of households paying over 50% of their income towards housing – or severely cost burdened. A family with one full-time worker at minimum wage cannot afford the local fair market rent for a 2-bedroom apartment. Housing Programs, Inc. was created in response to these economic conditions.
Leveraging the best of County and State resources and programs and the experience of its development team, Housing Programs helps close the gap of home ownership for moderate and low-income residents and improve the future of the community. In March 2013, Miami-Dade County conveyed ownership of 10 vacant lots to Housing Programs. These lots are scattered over a 2-mile area around the Liberty City and Overtown neighborhoods, and all are located in low-income established neighborhoods with existing homes and retail services. Building new homes on these once vacant lots has been a vast improvement to the neighborhoods as it increases property value and reduces crime. Since those first 10 donated lots, Housing Programs, Inc. has continued to acquire properties and build homes for sale.
With financing from Florida Community Loan Fund, Housing Programs acquires lots and builds affordable homes for sale to moderate and low-income families. First-time homebuyer mortgage assistance is available through local City and County programs, and as part of the application process Housing Programs assists each family with financial and credit counseling. Completion of the first group of homes was in early 2015; since that time FCLF has increased the capital available through the line of credit loan, and construction continues.
In 2020, Housing Programs, Inc. expanded their reach, building 13 affordable townhomes in Hollywood, Florida, for sale. The FCLF line of credit was also used towards this project.
Watch the video about FCLF and our work with Housing Programs, Inc.
View more photos of Housing Programs on FCLF's Flickr Page. Pictured above, sample home developed by Housing Programs, Inc. Below, interior of a home; new homeowners; architectural rendering of townhome project.
