CENTRAL REGION
$2,570,000 FCLF Financing
$8.9 million total project costs
Construction/term loan
77 units permanent supportive housing for formerly homeless
"We cannot thank Florida Community Loan Fund enough for their partnership. This is a unique project that has brought together a diverse group of stakeholders. FCLF’s investment in creating permanent housing solutions for our neighbors in need is a testament to their commitment to all of Florida’s communities." – Shannon Nazworth, President & CEO
Florida has one of the most severe shortages of affordable housing in the nation. Statewide, only about 6 percent of rentals built from 2000 to 2015 were deemed affordable, according to University of Florida housing market researchers.
In Eatonville, Florida (Orange County, north of Orlando), the Wayne Densch Center has provided affordable housing since 1998. Started as traditional housing for adults leaving substance abuse treatment, the complex evolved into permanent housing with supportive services for low- and very low-income residents. With steady use over time, these apartments in a low-income community deteriorated, and were in need of repairs and upgrades.
Ability Housing will undertake substantial renovations of the existing apartments – including complete interior and exterior upgrades, new playground, parking lot improvements, and new landscaping. Where there were formerly 64, the completed project will result in 77 apartments with on-site supportive service for the residents. All of the units will be available to low-income households, with at least 20% of the units set aside for very low-income households. The renovated development will also serve formerly homeless households, with 70% of the units (54) set aside for these households, 50% (39) set aside as permanent supportive housing, 10% (8) set aside for persons with a disability, and 10% (8) set aside for veterans. A case manager will help coordinate services for residents.
Florida Community Loan Fund financed $2.5 million toward the $8.9 million project. Additional funding comes from Orange County Community Development Department, and other public and private sources. FCLF also sponsored Ability Housing for the Federal Home Loan Bank of Atlanta’s Affordable Housing Program (AHP), for which the Wayne Densch Center was awarded $500,000. Groundbreaking for the project took place in December 2017. Construction began in the 3rd quarter of 2018 and should be complete in about a year.
Ability Housing will lease the Wayne Densch Center from Florida Hospital Foundation, the current property owner, and will also manage the complex. After a period of time, Ability Housing will assume full ownership. The Wayne Densch Center is Ability Housing’s first project in Central Florida. The organization has up to now focused on Northeast Florida, particularly the Jacksonville area.
Learn more about FCLF and Abiltiy Housing in this video:
Learn more about the Wayne Densch Center and the groundbreaking in these articles:
Pictured above, rendering of the Wayne Densch center upon completion. Below, the groundbreaking took place in December 2017.
