NORTHEAST REGION
$2.85 Million FCLF Financing (2 loans)
Construction financing
28 units of affordable and supportive housing
“At Abundant Life Ministries, our aim is to lead with faith, serve with compassion, build with purpose, and leave a legacy of hope. We are grateful to Florida Community Loan Fund for partnering with us on Phoenix Crossings and helping us turn that vision into a place where individuals and families can find stability, support, and a true sense of home. This partnership allows us to extend our mission in a meaningful way and create a community where residents can heal, grow, and build a brighter future.” – Sandra Shank, CEO, Abundant Life Ministries
Abundant Life Ministries’ CEO and Founder Sandra Shank has always had a heart for those who are hurting. Through her work with public schools and the foster care system, she experienced first-hand the devastating impact of an unstable home in the life of a child. This inspired her to found Hope House in 2003, whose first resident was a 13-year boy embarking upon his first experience in foster care; within weeks the home was filled to capacity. Under her leadership, Abundant Life Ministries is developing Phoenix Crossings, a new affordable and supportive housing community in Bunnell, Florida.
Located in Flagler County, Phoenix Crossings will consist of two 2-story buildings totaling 28 rental apartments. The units are reserved for households earning 50% or less of AMI (area median income), with agreements in place to ensure long-term affordability for 50+ years. The community residents will include youth aging out of foster care, adults with disabling conditions, and extremely low-income families and individuals. Supportive services will be provided by ALM and partner organizations, focusing on trauma-informed care and healing.
Florida Community Loan Fund provided construction financing of $2.85 million for Phoenix Crossings. FCLF received a Capital Magnet Fund (CMF) award from the Community Development Financial Institutions (CDFI) Fund, which allowed FCLF to offer more favorable terms to Phoenix Crossings and help ensure the project’s success. Additional financing for the project has been provided by Flagler County, Florida Housing Finance Corporation, and other public and private sources.
Phoenix Crossings is the result of a partnership between two experienced nonprofits: Abundant Life Ministries-Hope House (ALM) and Rural Neighborhoods, Inc. (RNI).
- ALM began in 2001 to provide residential group care to qualified individuals and to offer services to at-risk and abused teens, in Flagler and Volusia Counties. The organization has since expanded to include additional supportive housing and mental health services to uninsured and underinsured area residents.
- RNI was created in 2004 to specialize in land acquisition and development. The nonprofit organization has created more than 2,200 affordable housing units in 15 Florida communities and will manage the construction of Phoenix Crossings.
As noted on the Abundant Life website: “The need for affordable housing is on the rise statewide, and availability is on the decline. Phoenix Crossings aims to help bridge the gap for families facing eviction or housing insecurity, providing a permanent, supportive housing community that residents of Flagler County can call home.”
Pictured above, a home developed by Abundant Life Ministries.
