NORTHEAST REGION
FCLF LOAN $440,000
ACQUISITION LOAN to preserve rental affordability
8-unit apartment complex
"Thank you to our new friends at FCLF for helping us acquire this property, and for your help and patience as we gathered all the details. We'll make you proud!" – Bill Lazar, Executive Director, St. Johns Housing Partnership
St. Augustine, Florida, may be the nation's oldest city, but it is also a city in need of affordable housing. With a loan from FCLF and its Florida Preservation Fund, the St. Johns Housing Partnership will ensure that these 8 apartments remain available at affordable rental rates for low-income households.
For 15 years, St. Johns Housing Partnership (SJHP) has worked to create a positive impact on affordable housing and affordable living in St. Johns and surrounding Florida counties. Headquartered in St. Augustine, SJHP began as a basic emergency home repair program. Since that time the organization has grown and expanded, and now offers home repair and weatherization, foreclosure prevention, services for residents such as credit counseling, first time homebuyer education, financial literacy, and provides home for sale and for rent. SJHP helped over 100 homes a month undergo the weatherization process between 2009 and 2012.
The apartment complex on Masters Street (pictured) in downtown St. Augustine consists of 8 2-bedroom apartments in a 2-story building, all of which must be leased to households with low-income. Financing from Florida Community Loan Fund allowed St. Johns Housing Partnership to purchase the apartment building, helping preserve affordable rental housing options in the downtown St. Augustine area.
View photos from St. Johns Housing Partnership on FCLF's Flickr Page.
