Silver Creek Apartments

SilverCreek renderingSOUTH REGION
$3 million FCLF financing
90 affordable multifamily rental homes

"Thanks in part to Florida Community Loan Fund’s long-term senior loan, we’re able to develop Silver Creek, a new, mixed-income, mixed-use community in Miami. This sustainable development will provide brand-new, fully-amenitized, and professionally managed homes for 90 families who might otherwise struggle to find safe and affordable housing." – Mitchell Rosenstein, Founder & Principal, Green Mills Group


 South Florida is among the least affordable areas in the U.S. for renter households. A 2017 study shows that 63% of renter households in Miami-Dade, Broward, and Palm Beach Counties are cost burdened – spending more than 30% of income on rent. There is a great need for affordable rental housing.

Silver Creek Apartments will provide 90 affordable rental homes for families in Miami, with 81 units reserved for very low- and low-income households and the remainder available as workforce housing. Rent restriction agreements will maintain affordability of these apartments for at least 50 years, with monthly rent as low as $365 per month. Silver Creek will be built to certified green standards and include Energy Star-rated appliances, all of which help reduce costs for residents. In addition, the seven-story building will feature a game room, fitness center, and other amenities. The project is located close to public transportation – bus and metro rail – and area businesses, with easy access to downtown Miami, job centers, and three hospitals. The ground floor will also have retail space for lease.

Financing from Florida Community Loan Fund is providing a $3 million permanent loan for Silver Creek, a LIHTC (low-income housing tax credit) project that is being developed by Green Mills Group with a total cost of over $25 million. Additional financing is provided by TD Bank and Miami-Dade County. Tax credit equity is provided by the investor, TD Bank, through Raymond James Tax Credit Funds.

Learn more at www.greenmillsgroup.com

Pictured above, architectural rendering of the Silver Creek Apartments complex.

 GreenMillsLogo

"Our partnership with FCLF helps the American Dream of homeownership come true." – Michael Roberts, Exec Dir

R.E.A.C.H.

“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

“FCLF addresses local community needs, which aligns with our core values. We appreciate your commitment to our communities.” – Mellissa Slover-Athey, Comm Reinv Ofcr

CenterState Bank

"Trinity Health is happy to partner with FCLF. We look forward to seeing the impact in the communities you serve." – Sr. Kathleen Coll, SSJ, Administrator, Shareholder Advocacy

Trinity Health

"FCLF is a difference maker! Their team provides solutions to bring about real change in a community." – Tim Marks, President & CEO

Metropolitan Ministries

"Without FCLF's support, we would not have been able to deliver the services our area so desperately needs. We look forward to a lifetime relationship." – Tom Griffin, CEO

The Transition House, Inc.

"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

"Thanks to FCLF, we are one step closer to providing a permanent housing solution for veterans and others seeking quality housing at an affordable price." – Carrie Davis, Executive Director

Wealth Watchers

"I appreciate FCLF for lending in rural areas, where many other lenders are exiting. From the first moment we spoke with FCLF staff, we felt we had a partner." – Jamie Kerr, President, AMCS Dev.

Griffin Heights

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

JPMorgan Chase Foundation

"Our partnership with FCLF allows us to build an attractive, state of the art facility that patients, staff, and community will be proud of." – Bakari Burns, President-CEO

Orange Blossom Family Health

“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 look forward to continuing our successful relationship with FCLF and working together to meet the needs of our communities." – Nancy Merolla, VP/CRA Officer

Florida Community Bank

"We are delighted to partner with you to serve those most in need in our communities." – Eileen S. Coogan, President & CEO

Allegany Franciscan Ministries

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

Neighborhood Renaissance

"FCLF shows a clear strategy and demonstrated evidence of addressing prevalent community needs." – J. Reymundo Ocañas, Director, Corp Responsibility

BBVA Compass

"FCLF has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

"FCLF was instrumental in making this important project a reality, bringing us one step closer to ending chronic homelessness in Miami-Dade County." – Dr. Paul A. Ahr, President & CEO

Camillus House

“The partnership with FCLF is very exciting for us – an essential component in providing greater access to fresh healthy food in downtown New Port Richey.” – Jeff Wright, Owner

Wright's Natural Market

FCLF Videos

View video testimonials from FCLF partners.
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  • Florida Community Loan Fund and R.E.A.C.H. Strengthening Communities in South Florida
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  • FCLF and CDC of Tampa, Stability in East Tampa Neighborhoods
  • FCLF and The Transition House: Building Blocks for U.S. Veterans
  • FCLF and Wendover Housing: Building Blocks for An Aging Population
  • FCLF and CFHC: Building Blocks for Low Income Healthcare
  • FCLF, Reflecting on the Past, Shaping the Future
Our Vision Opportunity and dignity exist for every person and community in Florida.
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