Gardens of Homestead

Gardens Homestead rendering SOUTH REGION
$1 million FCLF loan
Acquisition / Rehab financing
233 units of affordable housing

“We are extremely thankful to FCLF for providing this much-needed funding for the community. With rising interest rates and costs, every dollar really matters, and we were so lucky to have FCLF as a partner on this transformative project.” – Sydne Garchik, Principal and Founder of MRK Partners

Florida Community Loan Fund provided financing towards the purchase and renovation of 233 units of affordable rental housing on scattered sites across Homestead and South Miami-Dade County. The Gardens of Homestead Apartments offer a mix of one- and two-bedroom apartments, with a minimum of 171 units being affordable to households with incomes at or below 50% of the Area Median Income (AMI).

The rental apartments, located in 18 separate buildings, were acquired by Homestead Portfolio LP and are currently undergoing rehabilitation by MRK Partners (MRK). MRK understands that revitalization extends beyond just affordable housing That’s why they are dedicated to delivering services that enhance the well-being of both their residents and the communities they serve.

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 Gardens of Homestead to further help the project be successful.

https://mrkpartners.com/portfolio/gardens-of-homestead-apartments/

Gardens Homestead rendering 3

Return To Top

"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

"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 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.

“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 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

Neighbor Up Brevard

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

Metropolitan Ministries

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

Sabadell United Bank

“Our partnership with FCLF makes an enormous difference in overcoming the challenge of providing affordable housing." – Jo Ann Nesbitt, President/CEO

St. Jude Great Commission CDC

"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

“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 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

HSBC Bank USA, N.A.

“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'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

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

JPMorgan Chase Foundation

"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 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

“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

"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

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

Sister Mary Heyser, RSHM

Return To Top