Dunbar Improvement Association

Dunbar Improvement Assn exterior of apartmentsSOUTHWEST REGION
$4.3 MILLION FCLF financing
Refinance and rehabilitation financing
100 Affordable rental apartment for seniors

Florida is home to 3.3 million people age 65 and older. By 2030, this number will exceed 6.3 million. There is already a critical need for affordable housing for this age group, which is expected to increase in the coming years as this demographic continues to grow.

In Fort Myers, Florida, Dunbar Improvement Association operates the Palm City Gardens Apartments, which offers affordable rental homes for 100 very low- and extremely low-income seniors. The complex consists of 13 one-story buildings and was built in 1987. Available homes are studio and one-bedroom apartments, and with existing income restrictions the average resident pays $150 per month in rent.

With financing from Florida Community Loan Fund, the Dunbar Improvement Association is refinancing an existing loan and at the same time undertaking extensive renovations on Palm City Gardens. The renovations will include converting 48 apartments to barrier-free living spaces, new ramps and sidewalks, new roofs, plumbing and HVAC system replacement, and energy efficient upgrades which will save money for the residents.

Refinancing the existing loan will result in monthly cash flow savings for Dunbar Improvement Association, which can be reinvested into the community. In an area where 32% of residents live in poverty Palm Gardens Apartments is providing affordable rental homes for 100 area seniors.

Learn more at http://palmcitygarden.com/

Dunbar Improvement Assn, apartment entrance

Button View More

"Our partnership with FCLF allows us to build an attractive, state of the art facility that patients, staff, and community will be proud of." – Bakari Burns, President-CEO

Orange Blossom Family Health

"We couldn't achieve our mission of creating strong neighborhoods without FCLF's help. Their staff is always friendly, quick to respond, and efficient." – Bonnye Deese, Executive Director

BAND

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

Sabadell United Bank

"We couldn’t have pulled this project together without FCLF as partners. This is the start of great work in Jacksonville’s historic Springfield district." – Kevin Gay, Exec. Director

Operation New Hope

"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 shows a clear strategy and demonstrated evidence of addressing prevalent community needs." – J. Reymundo Ocañas, Director, Corp Responsibility

BBVA Compass

"Without FCLF's support, we would not have been able to deliver the services our area so desperately needs. We look forward to a lifetime relationship." – Tom Griffin, CEO

The Transition House, Inc.

"FCLF understood our context, embraced the project vision, and were willing to make an investment that others deemed as too risky." – Lynn Brockwell-Carey, Executive Director

Brevard Neighborhood Development Coaliti…

"BankUnited understands the challenges facing our communities; we applaud FCLF's efforts. Thank you for making our community a better place to live." – Katrina Wright, VP Comm. Dev.

BankUnited

"Aida Palms will be a lasting asset to the City of Lakeland. This revitalization wouldn't be possible without financing partners like FCLF." – Mitchell Rosenstein, Principal, Green Mills Group

Aida Palms

“The partnership with FCLF is very exciting for us – an essential component in providing greater access to fresh healthy food in downtown New Port Richey.” – Jeff Wright, Owner

Wright's Natural Market

"It is really working. FCLF is really touching low-income people." – Florida Community Loan Fund Founding Board Member

Sister Mary Heyser, RSHM

"We look forward to continuing our successful relationship with FCLF and working together to meet the needs of our communities." – Nancy Merolla, VP/CRA Officer

Florida Community Bank

"FCLF plays a significant role in sustaining vibrant and thriving communities. We are pleased to support your ongoing community based efforts." – Ernie Diaz, South Florida Market President

TD Charitable Foundation

"Our partnership with FCLF helps the American Dream of homeownership come true." – Michael Roberts, Exec Dir

R.E.A.C.H.

"Thanks to FCLF, we are one step closer to providing a permanent housing solution for veterans and others seeking quality housing at an affordable price." – Carrie Davis, Executive Director

Wealth Watchers

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

Neighborhood Renaissance

"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

"FCLF demonstrates a mission-oriented philosophy that is compatible and supportive, broadens our platform and deepens our portfolio of products and services." – Kent Adcock, CEO

Habitat for Humanity of Lake-Sumter

"I recommend FCLF for attracting investment to the Florida Preservation Fund... I believe that says something about investor comfort." – Nancy Muller, Policy Director

Florida Housing Finance Corp.

FCLF Videos

View video testimonials from FCLF partners.
  • Florida Community Loan Fund and Orange Blossom Family Health, Bringing Healthcare to FL Communities
  • Florida Community Loan Fund and R.E.A.C.H. Strengthening Communities in South Florida
  • Florida Community Loan Fund helped Boys & Girls Clubs of Manatee County with New Markets Tax Credits
  • FCLF and Operation New Hope, Restoring Jacksonville’s Springfield Community
  • FCLF and SW Florida Collaboratory, Bringing Stability to a Fort Myers Neighborhood
  • FCLF and CDC of Tampa, Stability in East Tampa Neighborhoods
  • FCLF and The Transition House: Building Blocks for U.S. Veterans
  • FCLF and Wendover Housing: Building Blocks for An Aging Population
  • FCLF and CFHC: Building Blocks for Low Income Healthcare
  • FCLF, Reflecting on the Past, Shaping the Future
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.