$600,000 FCLF financing
Line of credit for land acquisition, predevelopment, construction
26 affordable homes for ownership
"Our collaboration with FCLF will allow us to expand our range of affordable home ownership products." – Rev. Joaquin Willis, President/CEO
The Collective Empowerment Group of South Florida, Inc. (CEG) was formed in 2005 by a group of local churches in South Florida, with the original purpose of providing homebuyer training, credit counseling services, and enhancing fairness in lending practices. Since that time, the organization has identified and nurtured several member churches that wish to develop vacant sites or repurpose under-utilized properties.
The CEG later formed Collective Developers, LLC, as its affordable housing development entity. In June 2017 the CEG was awarded 26 infill lots by Miami-Dade County, and they recently started construction on the first single-family home on those lots, located throughout the communities of Brownsville and Liberty City. The homes will be 3-bedroom, and affordable for ownership by low- and moderate-income households.
Financing from Florida Community Loan Fund will enable Collective Developers to build various affordable for-sale homes on those lots, including single-family, duplex, and four-plex models . All of the homes will be built in neighborhoods with significant poverty levels (above 30%).
The CEG focus is on promoting home ownership – as opposed to rentals – to allow low- and moderate-income families to build family wealth and long-term financial independence through accumulation of home equity values.