Saint Stephen's Way

Saint Stephen's Way renderingCENTRAL REGION
$8.25 million FCLF financing

Construction loan
40 supportive housing units + community center

Saint Stephen’s Way was formed in 2012 as a faith-based nonprofit with the sole mission of providing affordable housing with supportive services to homeless families with school-aged children in Brevard County. For several years the organization searched for a suitable property; the search led to 8 acres of undeveloped land on Crane’s Creek near downtown Melbourne. The land was donated by the People of Destiny Christian Fellowship Church, formerly the Tabernacle Church, which had been entrusted with the property owned by a missionary couple who wanted the land to be used for God’s work.

With construction financing from Florida Community Loan Fund, SSW will build forty 3-bedroom apartments in 8 buildings, along with the Holman Community Center, named for missionary Nellie Holman. An existing single-family home on site will house administrative offices and a caretaker’s residence. SSW will meet critical housing needs for families with incomes below 50% of the area median income in Brevard County, and provide access to resident services from area agencies including Housing Authority of Brevard’s Resident Opportunity and Self Sufficiency (ROSS) Program, as well as supportive services offered by key service partners including Catholic Charities, Brevard Health Alliance and others. Through the 40 apartments and related services, SSW expects to serve 40 families, (between 124 and 240 area residents), annually, and the project is estimated to create 3 permanent jobs and 50 temporary construction jobs.

Saint Stephen’s Way is located in a census tract where the average household income is at 36% of the Area Median Income (AMI), 37% of residents live below the poverty line, and 63% of residents are minority. The City of Melbourne is in support of the project and will permanently defer a portion of development and impact fees for the project. Long-term affordability of the homes will be ensured through a land use restriction agreement with the City.

City of Melbourne Mayor Paul Alfrey said in February about the Saint Stephens Way project: “When the stress that parents’ face due to poor living conditions and the worry of how they will be able to afford their rent is removed, their children's emotional and behavioral problems greatly improve. As a consequence, when the financial burden is removed from parents' shoulders, financial resources can now be invested into the children's health, education and future.”

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 SSW to further help the project be successful.

Button View More

“We are proud to partner with FCLF on this project, which expands access to innovative, quality, comprehensive primary healthcare in our communities.” – Annie Neasman, President & CEO

Jessie Trice Community Health

“FCLF provides stability for families, strengthens the region, and helps Truist fulfill our purpose to inspire and build better lives and communities." – Sandy Hostetter, Central Florida Region P


"It is really working. FCLF is really touching low-income people." – Florida Community Loan Fund Founding Board Member

Sister Mary Heyser, RSHM

"We commend the important work of your organization, are glad to support its efforts." – Beverly Dabney

JPMorgan Chase Foundation

"Thank you to our friends at FCLF. Your staff has been patient and helpful. We'll make you proud!" – Bill Lazar, Executive Director

St. Johns Housing Partnership

"Aida Palms will be a lasting asset to the City of Lakeland. This revitalization wouldn't be possible without financing partners like FCLF." – Mitchell Rosenstein, Principal, Green Mills Group

Aida Palms

“Thanks to FCLF we’re able to provide brand-new safe, affordable homes for 90 families in a sustainable mixed-use, mixed-income community." – Mitchell Rosenstein, Founder & Principal

Green Mills Group

"Without the FCLF initial loan to purchase land, we might not have been able to move forward with farmworker housing." – Peter Routsis-Arroyo, CEO, Catholic Charities, Diocese of Venice

Casa San Juan Bosco

"FCLF plays a significant role in sustaining vibrant and thriving communities. We are pleased to support your ongoing community based efforts." – Ernie Diaz, South Florida Market President

TD Charitable Foundation

"FCLF staff shares our vision and commitment to serve needy families and provide a high quality education to all children." – Thomas Cole, Founder

Emma Jewel Charter Academy

"Cade Museum is proud to be partners with FCLF and JPMorgan Chase. Thanks to the NMTC Program, we will provide a transformative asset to our community." – Jennifer Denault, COO

Cade Museum for Creativity & Inventi…

“FCLF is much more than a financing entity; they are the ultimate partner. They are on the front line protecting and building resources for the most vulnerable in our community."– Seth Eisenberg

Purpose Built Families Foundation

“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

“FCLF will help us have significant ongoing impact in West Lakes as we help families set roots in this community.” – Camille Reynolds, Executive Director

Hannibal Square CLT

"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

"BankUnited understands the challenges facing our communities; we applaud FCLF's efforts. Thank you for making our community a better place to live." – Katrina Wright, VP Comm. Dev.


"The Fathers Table Foundation appreciates the services FCLF provides and the impact on the communities you serve. We believe in your organization and your mission." – Dan Gilardi, President

Fathers Table Foundation

"FCLF understood our context, embraced the project vision, and were willing to make an investment that others deemed as too risky." – Lynn Brockwell-Carey, Executive Director

Neighbor Up Brevard

"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

"Our relationship with FCLF provides the capital to achieve long-lasting impact." – Terri Murray, Exec Dir

Neighborhood Renaissance

Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.