Stonehenge Apartments

Stonehenge ApartmentsWEST REGION
FCLF LOAN $355,000
Renovation of 16 affordable apartment homes 

"FCLF understands the changing issues and challenges that non-profit housing organizations face. We truly value FCLF as a partner in accomplishing our mission of service to the working families of our community." – Harold Sample, Executive Director, Workforce Housing Ventures

In San Antonio, Florida, located in East Pasco County, the Stonehenge Apartment complex provides affordable rental homes for low-income families. The apartment complex was in need of new roofs on all buildings, and repairs to the parking areas. Additionally, the complex owner had outstanding debt on extensive renovations that had recently been undertaken on the 5-building complex.

With a loan from FCLF, Workforce Housing Ventures, the owner at the time, was able to pay off the existing debt – at lower rates and extended terms – and complete the work needed on roofs and parking. These renovations have significantly improved living conditions at Stonehenge Apartments, and allow the rent on these 16 apartment homes to remain affordable for low-income families.

Since the original loan to Workforce Housing Ventures, the Stonehenge Apartment complex was purchased by Pasco County Housing Authority. The FCLF financing was transferred to the new owner, as part of our commitment to preserve affordable rental housing throughout Florida.

The lending team at Florida Community Loan Fund demonstrated the flexibility of their financing to create a new structure for this loan, with equal proceeds coming from two of FCLF’s lending programs: the Community Development Fund and the Florida Preservation Fund. Drawing financing from the two lending programs enabled the loan to proceed with a low interest rate, maintaining the long-term viability of this affordable multi-family housing complex.

Since 1995, Workforce Housing Ventures has assisted in assuring the availability of decent, affordable housing to all persons, with a special emphasis on low- to moderate-income households in the workforce community. 

Stonehenge Apartments 2To view more photos, visit our Flickr page.

"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

"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

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

Dignity Health

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

Sister Mary Heyser, RSHM

"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

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“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

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

Neighborhood Renaissance

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Florida Community Bank

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Third Federal Savings

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Casa San Juan Bosco

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BBVA Compass

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Woodlawn Community Academy

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Camillus House

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Boys & Girls Clubs of Manatee County

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CenterState Bank

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Metropolitan Ministries

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Cade Museum for Creativity & Inventi…

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.