Colonnade Park

Colonnade Park, Green Mills Group, exterior viewWEST REGION
$2.5 million FCLF financing
106 units of affordable rental housing

“We’re thrilled to have closed financing for another affordable housing development with Florida Community Loan Fund. Colonnade Park is Green Mills Group’s fourth community financed with FCLF long-term permanent debt, which helps enable us to develop beautiful homes that serve families in need of affordable housing. FCLF is great to work with in every way, and we look forward to more partnerships with them…” – Mitch Rosenstein, principal of Green Mills Group

In Florida’s Citrus County nearly 25% of renter households are cost burdened – paying more than 30% of income for housing and related expenses – and like so many areas of Florida there is a shortfall of available, affordable rental homes.

Colonnade Park in Inverness will help alleviate the shortage of affordable rental homes, providing 106 new, energy efficient apartments. The apartments are in three residential buildings of three stories each, with a mix of 1- and 2-bedroom units. Additional on-site amenities include a pool, clubhouse, game room/library, fitness room, and laundry area. All homes include Energy Star appliances and low-flow plumbing fixtures, helping minimize utility expenses for residents. The property is near a major park and has easy access to central Inverness.

Developed by Green Mills Group, Colonnade Park will remain affordable for at least 50 years in accordance with the Low-Income Housing Tax Credit (LIHTC) program. The apartments are affordable to households with incomes at 60% of AMI (Area Median Income), with a portion of the units limited to households with incomes at 45% of AMI.

Florida Community Loan Fund provided $2.5 million in permanent financing for Colonnade Park. The project is also supported by a grant from Citrus County.

FCLF received a Capital Magnet Fund (CMF) award from the Community Development Financial Institutions (CDFI) Fund, which allowed FCLF to offer more favorable terms to Colonnade Park to further help the project be successful.

Colonnade Park, Green Mills, aerial view

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"Trinity Health is happy to partner with FCLF. We look forward to seeing the impact in the communities you serve." – Sr. Kathleen Coll, SSJ, Administrator, Shareholder Advocacy

Trinity Health

“Thank you so very much for the exceptional services. We truly value FCLF’s contributions to furthering our mission." – Michael L. Bean, CEO

Housing Authority of Brevard County

“Thanks to FCLF we’re able to provide brand-new safe, affordable homes for 90 families in a sustainable mixed-use, mixed-income community." – Mitchell Rosenstein, Founder & Principal

Green Mills Group

“FCLF is much more than a financing entity; they are the ultimate partner. They are on the front line protecting and building resources for the most vulnerable in our community."– Seth Eisenberg

Purpose Built Families Foundation

"We're thrilled to partner with FCLF to make our project a reality to serve generations of kids in our community." – Dawn Stanhope, President & CEO

Boys & Girls Clubs of Manatee County

“Thanks to FCLF adults with disabilities are living independently, fully included in their community." – Sheryl Soukup, Exec Dir

Residential Options of Florida

"We commend the important work of your organization, are glad to support its efforts." – Beverly Dabney

JPMorgan Chase Foundation

"FCLF understands and is a part of what we are doing: helping families have the American dream of owning a home." – Isaac Simhon, Executive Director

Housing Programs, Inc.

"Our relationship with FCLF provides the capital to achieve long-lasting impact." – Terri Murray, Exec Dir

Neighborhood Renaissance

“The collaboration with FCLF and using NMTC financing allows us to bring the most ambitious projects to life to benefit the communities we serve.” – Elodie Dorso, President & CEO

Community Health Centers of Pinellas

“We are proud to partner with FCLF on this project, which expands access to innovative, quality, comprehensive primary healthcare in our communities.” – Annie Neasman, President & CEO

Jessie Trice Community Health

“We cannot thank FCLF enough for this partnership, creating permanent housing for our neighbors in need, and their commitment to Florida communities.” – Shannon Nazworth, President & CEO

Ability Housing

"FCLF has a keen knowledge of Florida challenges & opportunities. We are confident our investment will be used to improve lives." – Kathleen Rizzo Young, Sr. VP, Community Development


"FCLF staff shares our vision and commitment to serve needy families and provide a high quality education to all children." – Thomas Cole, Founder

Emma Jewel Charter Academy

“FCLF addresses local community needs, which aligns with our core values. We appreciate your commitment to our communities.” – Mellissa Slover-Athey, Comm Reinv Ofcr

CenterState Bank

"We appreciate the accomplishments your organization attains." - Robert Sucher, Executive VP

Sabadell United Bank

"The Fathers Table Foundation appreciates the services FCLF provides and the impact on the communities you serve. We believe in your organization and your mission." – Dan Gilardi, President

Fathers Table Foundation

“Expanding our facility with NMTC financing provides the Overtown community resources necessary to provide a fighting chance to break down barriers and break the cycles of poverty.” – Tina Brown, CEO

Overtown Youth Center

"We appreciate how the work of FCLF primarily benefits low- to moderate-income individuals and areas and supports the needs of our community." – Maria J. Thompson, Community Development Manager

Third Federal Savings

"We consider FCLF a valued partner and strong advocates for low-income communities and families. We look forward to many more years of working together." – Jennifer Westerbeck, Vice President

US Bancorp CDC

Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.