$500,000 FCLF financing
Line of credit for acquisition & rehab
7-8 affordable homes
“The Florida Community Loan Fund line of credit we received will help us to have significant ongoing impact in West Lakes. Along with our colleagues at the West Lakes Partnership, we intend to continue to renovate distressed homes, providing quality homeownership options for families looking to set roots in this community.” – Camille Reynolds, Executive Director
The West Lakes neighborhood in Orlando consists of typical Florida homes built from the 1950s to 1970s. Over the decades, the area has been severely impacted by concentrated poverty and high vacancy rates. Blight and vacant houses have been an ongoing issue. In recent years, the area has seen significant investment and improvements brought about by LIFT Orlando, the City of Orlando, and other partnering organizations.
Hannibal Square Community Land Trust has been dedicated to creating and preserving quality and affordable housing since 2004, providing opportunities for low-, very-low, and moderate-income families to secure housing that is controlled by the residents on a long-term basis. Originally focused on providing affordable housing in Winter Park, Florida, the Hannibal Square CLT has expanded its strategy to include housing in Orlando’s West Lakes neighborhood and other areas of Central Florida.
With a line of credit financing from Florida Community Loan Fund, Hannibal Square CLT has joined forces with West Lake Partnership to purchase and rehab 7-8 homes in West Lakes. The homes, both single and multifamily, are located on scattered sites throughout the area. Renovations and improvements will include energy efficient appliances, water-saving plumbing fixtures, upgrades to flooring, exterior, and any other areas that need attention. In addition to increasing quality housing stock available in the area, Hannibal Square CLT will work with new homebuyers to obtain financial counseling and available down payment assistance.
Returning quality, affordable homes to the West Lakes community will help create a stable environment for both long-standing and new residents, and allow these families to have more of their income available for other necessities such as food, health costs, and a better quality of life.
Pictured above: Example of a Hannibal Square Community Land Trust affordable home. Below, a “before” photo and a rendering after renovations.