$28 million TOTAL PROJECT
$13.5 million FCLF FEDERAL NMTC ALLOCATION
housing and supportive services for homeless
serving 1,068 annually
100 temporary + 71 permanent jobs
In Miami-Dade County, the homeless population increased by 30% from 2014 to 2015. At the end of the 2016 school year, 5,000+ school children were registered as homeless. In Miami’s urban core, home to the County’s largest concentration of homeless, Lotus Village will reach many of these high-needs individuals.
Lotus House has provided shelter and a support system to homeless women, youth, and children in Miami’s Overtown neighborhood since 2004, with an innovative, holistic approach that addresses not only the immediate causes of homelessness, but also the deeper issues – which are often gender-specific – such as physical vulnerability and trauma. The center provides shelter, meals, clothing, day care, counseling, social services, adult education, job readiness training, employment coaching, and moveout assistance, among other services.
With financing through the New Markets Tax Credit Program, Lotus Village replaced the organization’s former collection of aging, deteriorating structures, with a new 5-story, 100,000 square-foot center. In addition to 140 living units which provide emergency and longer-term shelter, the campus includes on-site day care, a commercial kitchen to prepare meals and provide job training, healthcare services, classroom and counseling space.
From this all-new building, Lotus Village will be able to double its former capacity, serving 490 women and children each night and providing care for 1,068 annually. Daycare will be available for 125 to 200 children annually, and more than 500 clients will benefit from additional job training and other counseling services. The on-site healthcare center will be available to residents of the Overtown neighborhood – not just Lotus Village residents – reaching 5,000 annually.
Total costs for Lotus Village are projected to be $28 million. Florida Community Loan Fund provided $13.5 million in Federal NMTC Allocation. Bank of America is the investor on the project. Additional Federal NMTC were provided by Bank of America ($4 million) and Enterprise Community Partners ($9 million). This transaction was finalized in September 2016.
- Miami, Florida; Overtown / Park West CRA
- 39% of Area Median Income
- 2.38x National Unemployment Rate
- 42% Poverty Rate
Pictured: architectural renderings of the Lotus Village project upon completion, and one of the aging buildings that will be replaced.
In January 2018, Lotus Village moved into its new NMTC-financed facility. Learn more in this Lotus Village newsletter.