$288,000 FCLF Financing
Acquisition of 4 affordable rental apartments
“As a nonprofit affordable housing provider, Community of Hope struggles with attaining traditional bank Financing; Florida Community Loan Fund made funding more affordable housing simple. The families we serve are more in their debt then we are!” – Drew Warren, Executive Director, Community of Hope
Community of Hope was founded in 2005 when church members in Brevard County came together to provide affordable and transitional housing and programs for families while they work to stay together, with a focus on families with children and ending the cycle of poverty. By 2015, COH had acquired 29 homes, providing 89 qualified residents with housing and programs including budgeting, parenting classes, goal setting, and reaching self-sufficiency.
With financing from Florida Community Loan Fund, COH purchased a 4-unit apartment building to continue their housing and services programs. COH will collaborate with the Brevard County Housing Authority and the Florida Dept. of Children and Families to identify families for these homes, with a focus on families who have been approved by the courts to reunite but lack adequate housing to do so.
For more information visit www.hopeofbrevard.com