SOUTH REGION
FCLF LOAN $715,503
NEW CONSTRUCTION LOAN
4 single family affordable homes
21 temporary construction jobs

L.B.W. Homeowners’ Foundation of Coral Gables, Inc. (LBW) is a non-profit founded July 4, 2001, with the purpose of reviving and attracting individuals back to the historic McFarlane Homestead Subdivision neighborhood while preserving its Bahamian culture; creating economic development; acquiring and restoring historic landmarks; and developing infill homes that complement the historical nature of the neighborhood. The neighborhood was listed on the Register of Historic Places in 1995. The organization is composed of volunteer local homeowners.

LBW has obtained County grants to develop four new homes which are included in this FCLF loan, all located in the MacFarlane Historic Neighborhood in Coral Gables, Florida. This neighborhood was listed on the Register of Historic Places in 1995. Miami-Dade County and its Office of Historic Preservation have demonstrated an interest in spurring re-development and replacement of housing and new development of services within the neighborhood. Each lot was developed into an affordable, 3-bedroom/2-bath for sale homes, consisting of approximately 1,265sf. The homes are available for sale to Miami-Dade residents who qualify under the 80% or below Miami-Dade's median income limits. Qualified buyers will also receive a buyer subsidy.

This project is an important component of revitalization of this low-income neighborhood, both as an historic area of Coral Gables and the western portion of Miami-Dade County. LBW has partnered with Redevco, Inc. for construction and property management

For more information on homes available through LBW Homeowners' Foundation, visit www.redevco.org.

To view more pictures of LBW homes, visit our Flickr page.