Pirouette Group

Pirouette before 1CENTRAL REGION
$678,000 FCLF financing (2 loans)
9,952 sq ft residential & commercial
13 affordable apartments, retail and office space

The city of Melbourne in Brevard County is known for its great beaches, proximity to aerospace and high-tech, and revitalized historic downtown district. But there is also a need for affordable housing and property improvement in area neighborhoods, some of which experience poverty rates as high as 37%.

The Pirouette Group was formed to help improve one such low-income neighborhood. Since 2001, founders Mark and Lisa Herendeen have owned and managed properties in Melbourne that are affordable to low-income individuals and families, with a focus on quality of life to create a safe environment and detour criminal behavior. At one apartment building owned by the Herendeens, there has been a 60% decrease in police calls – saving money for the City in reduced police response and arrests while providing a safe, affordable home for residents.

With financing from Florida Community Loan Fund (FCLF), the Pirouette Group purchased and will renovate 2 adjacent commercial buildings totaling 9,952 square feet: a 13-unit apartment complex, a duplex, and spaces for 2 retail establishments and 4 offices. While major renovations are underway to bring the properties up to current standards, tenants will be able to move into newly remodeled apartments as they are completed.

With additional funding from the City of Melbourne’s SHIP program, this project is an example of how public-private partnerships can revitalize a low-income community.

Pictured above and below, the Piroette Group apartmens and retail space before renovation.

Pirouette before 2

"We consider FCLF a valued partner and strong advocates for low-income communities and families. We look forward to many more years of working together." – Jennifer Westerbeck, Vice President

US Bancorp CDC

"We're thrilled to partner with FCLF to make our project a reality to serve generations of kids in our community." – Dawn Stanhope, President & CEO

Boys & Girls Clubs of Manatee County

“We cannot thank FCLF enough for this partnership, creating permanent housing for our neighbors in need, and their commitment to Florida communities.” – Shannon Nazworth, President & CEO

Ability Housing

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Emma Jewel Charter Academy

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Dignity Health

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Griffin Heights

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Wealth Watchers

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HSBC Bank USA, N.A.

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Aida Palms

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BAND

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Sister Mary Heyser, RSHM

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Woodlawn Community Academy

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BankUnited

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Florida Housing Finance Corp.

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Trinity Health

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BBVA Compass

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Camillus House

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