$1.1 MILLION FCLF FINANCING
Line of Credit for new construction or purchase/rehab and sale of affordable homes
26 homes, single and multifamily, for sale and rent
15 temporary construction jobs
"With financing through FCLF, we are able to continue providing affordable housing for low-income households who have great needs. We are proud when we can rehab a rental home without displacing a family, or offer an affordable home for ownership to a new family. These are the ways that, working together, we can build strong communities." – Christopher Jackson, President
In St. Petersburg, Florida, as in many areas throughout the state, there is a need for mentoring and leadership programs in low-income communities. In 2009, Pathway 2 Success was founded with a commitment to provide housing, rehabilitation, and guidance to youth, veterans, ex-offenders, abuse victims, and those with disabilities. In addition to Florida, the organization has worked in North and South Carolina, Arizona, and Indiana.
Pathway 2 Success focuses on the Midtown community south of downtown St. Petersburg, in an area that has seen recent economic redevelopment efforts. Through its outreach and work with disadvantaged populations, Pathway aims to build community leaders who will then serve as positive role models to their peers. Programs include working with children and teens to graduate from high school and resist negative peer pressure, as well as offering financial education, rehab services, and counseling to veterans, abuse victims, and ex-offenders. The goal is for all of these individuals to prosper and become model citizens.
Pathway's programs are funded in part through partnerships and donations. The founders have also begun to acquire and renovate real estate, and create housing that can be offered to program participants through rent agreements, or sold to provide income to further the organization's programs.
Florida Community Loan Fund has provided a Line of Credit to Pathway 2 Success. The first loan, in 2014, allowed Pathway to acquire 6 homes which provided housing for rent to low-income households and helped fund mentoring programs. Additional line of credit financing helps build new or acquire and renovate affordable homes. When homes are sold to a low-income household the line of credit can be used for another new home. In 2020 FCLF provided emergency working capital as part of its COVID-19 relief financing.
The financing through FCLF allows Pathway to increase the number of homes that can be developed by creating additional capital that will improve low-income neighborhoods in and around St. Petersburg.
For more information, visit www.pathway2success.org.
Pictured: above, sample Pathway 2 Success home after restoration. Below, a home in need of rehab, and Pathway 2 Success founders in a newly remodeled home.