$330,000 FCLF Financing
New construction loan
2 affordable homes for sale
"Florida Community Loan Fund has been great to work with. We look forward to making a lasting impact in Miami in affordable housing for working families." – Steve Blazekovic, Director, Neighborhood Housing Foundation
The affordable housing crisis that exists across the country is especially noticeable in high-population areas of South Florida, and Miami in particular. The Neighborhood Housing Foundation (NHF) was created for the purpose of developing affordable housing in Miami to address the issues facing new homebuyers. Under the City of Miami’s Affordable Housing Development Program, NHF is able to obtain blighted or abandoned lots and homes, with an agreement to build or renovate affordable housing. Low- to moderate-income households are eligible to purchase these homes and may have access to down payment assistance and other funding sources.
With financing from Florida Community Loan Fund, Neighborhood Housing Foundation is building a 2-unit residence, which consists of two 2,200 square-foot homes for sale to first-time homebuyers. The homes will include energy-efficient features and appliances, and each has a rooftop “green living” patio. The project is located in the Little Haiti neighborhood of Miami, an area that has seen investment and gentrification pressures in recent years. The site is close to area schools and small businesses, just off of a major transportation corridor giving residents easy access to jobs, businesses, and education.
With this project, NHF is replacing a blighted property with a new duplex and providing 4-bedroom homes, which are rare among affordable housing. The property was provided by the City of Miami’s AH Program.
Pictured above, a rendering of the completed project. Below, the site before demolition.