Emerald Villas, Phase II

Emerald Villas renderingCENTRAL REGION
$2,050,000 FCLF financing
96 affordable rental apartments for low-income seniors

Pine Hills, one of the oldest and largest neighborhoods in Orange County, Florida, began as an upper middle class community, but has seen decline in recent decades. A 2010 Orange County plan called for redevelopment of Pine Hills in order to bring needed improvements to the area, including an increase the availability of affordable housing. With the growth of the elderly population in the area, there is a substantial demand for affordable housing with a focus on seniors. No new elderly housing has been built in the community for at least the last 20 years.

Emerald Villas Phase II will provide 96 units of new, affordable rental housing for low-income seniors in the Pine Hills community. The project will be developed by a partnership between Orlando Neighborhood Improvement Corporation, ONIC, and Related Urban Development Group, RUDG. The apartments will be reserved for households with incomes of 60% or less of area median income (AMI), and on-site amenities include a library, fitness room, pool and outdoor activities, business center with computers, laundry area, and more. ONIC will manage the site, including providing supportive services for residents including recreation, education, counseling, and personal enrichment. These services will be provided through a network of local partners including Pine Hills Community Center, Wayne Densch YMCA, Pine Hills Performing Arts Center, and Evans Wellness Cottage.

Florida Community Loan Fund provided a $2,050,000 term loan for Emerald Villas Phase II. The project will be financed through the LIHTC (Low-Income Housing Tax Credit) program, with additional funding from Orange County and Florida Housing Finance Corporation.

ONIC is a Central Florida-based nonprofit organization, and since 1989 they have developed affordable housing for ownership and for rent. RUDG was founded in the Miami area, and has expanded to develop multifamily properties throughout Florida.

www.orlandoneighborhood.org
www.relatedgroup.com

Button View More

"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

"FCLF has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

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

Sister Mary Heyser, RSHM

“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

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

JPMorgan Chase Foundation

"Without the FCLF initial loan to purchase land, we might not have been able to move forward with farmworker housing." – Peter Routsis-Arroyo, CEO, Catholic Charities, Diocese of Venice

Casa San Juan Bosco

“FCLF will help us have significant ongoing impact in West Lakes as we help families set roots in this community.” – Camille Reynolds, Executive Director

Hannibal Square CLT

"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

"FCLF is a difference maker! Their team provides solutions to bring about real change in a community." – Tim Marks, President & CEO

Metropolitan Ministries

“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 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

"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

"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

“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

"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

“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

"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…

"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

“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

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

R.E.A.C.H.

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.